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/biz/ - Business & Finance

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File: 92 KB, 732x904, 2021-02-18 05_08_55-0.0035697 _ BNBBTC _ Binance Spot - Brave.png [View same] [iqdb] [saucenao] [google]
29104692 No.29104692 [Reply] [Original]

Let's talk. So if I theoretically transfer 1 BTC to a Binance.com account that I opened over a VPN through Chile, traded for BNB, traded for shit on Pancakeswap or whatever, 10x my stack, then after mopping up my humungous spilled load, I transfer 10 BTC back to my US coinbase account and cashed out into my US bank...

HOW FUCKED AM I? Long story short, I don't even mind paying the man so I can live without fear of some knock on the door, but can't I just tell the IRS that I 10x my BTC. Isn't that enough. I don't even know where to begin tracking let alone putting on my tax return what occurred on CZ's wild ride.

Let's talk taxes in relation to this 'centralized decentralized smart chain'.

>> No.29104893

>>29104692
kinda fucked
you might have your assets frozen at some point

>> No.29105076
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29105076

>>29104692
create fake contracts of existing tokens made by you; set up transactions and report those if they ask

>> No.29105200

>>29104692
you're in sketchy territory

>> No.29105255

bring it back to a kys exchange for fiat and it should be capital gains tax

>> No.29105329

>>29105076
Explain further
>>29104692
Should be fine I figure. Where did the BTC come from?