Bro when the dip happens your exchange won't let you buy
so annoying man. I tried signing out and logging back into Gemini but now it doesn’t even accept my password
these dips get bought so fast it's quite insane actually
I’m on sudoku watch
do you have to pay gains tax if you sell on coinbase / binance, but dont withdraw the money to your bank?
do you have to pay gains tax if you sell on coinbase / binance, but dont withdraw the money to your bank?
Great question. Following for answer
do you have to pay gains tax if you sell on coinbase / binance, but dont withdraw the money to your bank?
yes any crypto transaction that you made that generates profit is a taxable event
yes any crypto transaction that you made that generates profit is a taxable event
That includes swapping coins or no?
That includes swapping coins or no?
is that a crypto transaction?
these dips get bought so fast it's quite insane actually
Wild tbh. I’m just buying smaller amounts Incase this is it
do you have to pay gains tax if you sell on coinbase / binance, but dont withdraw the money to your bank?
Yeah every transaction
But its tax free if its below your capital gains allowance
bears absolutely annihilated. imagine not buying that free money dip
Some weird s*** went down on Kraken I guess. Probably an algo malfunctioned lol
Yeah every transaction
But its tax free if its below your capital gains allowance
How strict uk gov about it?
yes any crypto transaction that you made that generates profit is a taxable event
so you have to declare every single sale you do?
how could the government even know how much money is on your exchange account anyway? unless you withdrew to your bank account.
asking for a friend of course
How strict uk gov about it?
Probably very lol
Honestly our system isn't that bad compared to other countries, our capital gains allowance is like 12k
Irelands is 1.2k euros
Probably very lol
Honestly our system isn't that bad compared to other countries, our capital gains allowance is like 12k
Irelands is 1.2k euros
stop scumming
so you have to declare every single sale you do?
how could the government even know how much money is on your exchange account anyway? unless you withdrew to your bank account.
asking for a friend of course
Well since you're a normie all of this is auto generated for you by coinbase. And none of it really matters until you're making six figures and up. And by then you should be looking into professional services if you are doing anything beyond buy and hold investing