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/biz/ - Business & Finance

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File: 193 KB, 901x1204, average british woman.jpg [View same] [iqdb] [saucenao] [google]
2321855 No.2321855 [Reply] [Original]

Do I actually have to pay capital gains tax on BTC, ETH or LTC that went up in value while 'stored' in a Coinbase account? Technically, no specific coins were owned by me, all I was holding was an agreement between myself and Coinbase saying they agree to give me X amount of crypto if I ask for it.

>> No.2321906

>do I have to pay income tax?
Are you a fucking retard?

>> No.2321931

>>2321906
Is it income if you give someone money and they give you more money back?

>> No.2321976

>>2321855
No way in fuck is that an average British woman. Also you'd probably have to check with an accountant on that one but I'm pretty sure it follows the spirit of capital gains since the coins were in your control (I.e. You can transfer or sell them at any time). Like how when you put money in a bank account you don't actually "have" the money anymore, the bank does, but you are still considered the owner of it. At least that's how I'm thinking of it.

>> No.2321984

>>2321931
Okay this is a new low for intelligence on this site.

>> No.2322061
File: 10 KB, 255x200, 5899816+_47354a0f25706112675a3f0d054140e6.jpg [View same] [iqdb] [saucenao] [google]
2322061

>>2321931
>Is it income if you give someone money and they give you more money back?

what the hell kind of retard are you? some kind of irradiated super tard?

>> No.2322154

>>2321855
you are the beneficial owner you fucking dumb as rocks retard. Try telling your bullshit to the judge before you get sent to the pokey.

>> No.2322210
File: 267 KB, 320x317, kisu.png [View same] [iqdb] [saucenao] [google]
2322210

>>2321931
No that's actually how easy it is to launder money.
The colombian drug cartels have big businesses to run their money through just for fun.

>> No.2322228
File: 24 KB, 644x408, fuKCCKCK.jpg [View same] [iqdb] [saucenao] [google]
2322228

>>2322210
>The colombian drug cartels have big businesses to run their money through just for fun.
Why though, that must take up a bunch of their money, time and effort? Wouldn't it be easier to just do what I said?