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Title: Buy Bitcoin in U.S and Sell in Another Country. TAX? Post by: masterh on December 26, 2017, 03:53:29 PM So here is the scenario.
I buy the bitcoin in U.S using website like Coinbase. (my bank account is linked) I send it to other exchanges in another country where they don't Tax crypto. I sell it there, put money in local bank and I send money back to U.S bank. I made Gains on a server that's registered in that country. Is it Taxable? I say maybe $50k, they won't care. But if it becomes larger amount and more frequent transaction, the bank might get suspicious? Isn't it like you send Iphones to overseas, sell it there for profit and send money back? do you have to pay Tax for this? |