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/biz/ - Business & Finance

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24649492 No.24649492 [Reply] [Original]

How do taxes work internationally. Say I'm an American and EU dual citizen, I bought all of my bitcoin on coinbase, held for 2 years, and sold my bitcoin on a european exchange living in like Portugal or Germany. Do i still owe taxes to the IRS? To whatever country I cash out? What if I make my permanent residence in Europe and move there before I sell?

>> No.24649542

>>24649492
nope you still have to pay both european and american taxes. If you were a dual citizen with isreal you could get out of any american taxes pretty easy

>> No.24649558

>>24649542
how would the IRS know if I sold my BTC i sent to my own wallet and sold on binance in Germany?

>> No.24650112

>>24649542
this anon is correct

irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z

>>24649558
because transactions are verified by network nodes and recorded in a public distributed ledger

>> No.24650183

>>24649492
All homosexuals should be culled

>> No.24650234

>>24649558
FACTA
Your German bank reports to the US unless you've hidden your American citizenship from them.

>> No.24650264

>>24649558
Binance doesn't let you cash out to fiat. Your eventual conversion back to fiat will be reported if it comes off an exchange that allows fiat in/out. Whether that gets back to the IRS IDK.

>> No.24650276

>>24650183
You're right, but I need to see them make out first

>> No.24650335

>>24649492
I want to pump Alison Brie's honkers!

>> No.24650376

>>24650264
>>24650234
>>24650112
guess im going to be a gay cuck and pay my taxes, fuuuuuuuck

>> No.24650416
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24650416

>>24650376
dont cash out and you dont have to pay taxes

>> No.24650431

>>24650416
dont you have to pay taxes upon selling BTC to fiat? like even without putting any money back to my bank, if i make a sale on coinbase doesnt that fall under capital gains?

>> No.24650566

bretty sure the IRS is an evil organization

>> No.24650654

You can file your crypto-trades as a non-profit as long as it benefits all the members who join and as long as you praise Sminem

>> No.24650750

>>24649492
Move to somewhere else like Portugal, renounce your US citizenship, and never step over there again. Then just don’t pay shit to the US.
Why would you ever want to return there anyway?

>> No.24650803

>>24650750
family mostly, my dads a millionaire (assets not like money in the bank) and i guess getting stuff from him in his will would be difficult if i flee the country lol

>> No.24651020

>>24650803
That's the easy bit anon. That's what BTC is for. Liquidate in one jurisdiction, buy BTC away from an exchange, and sell it for local fiat in person.

Your problem is how to not pay tax on stuff that's on an exchange. That's where you dun goofed.

>> No.24651038

Holy shit
This meme is a huge sell signal