Bitcoin Forum

Is it true that if yo sell your bitcoin in US (all states?) you are subjected to 15% capital gain tax?

Do you have links to the content you shared here, I would like to add more information about this. I will move to the US to live and this has a great influence on a bitcoin investor like me. I have to pay taxes and this fee is quite heavy for me.

It is difficult to comment on anything if we do not have the necessary information on this issue. However, there is a contradiction in your question. If you mean tax on the sale of bitcoin, then it will be a tax on profits. Capital gains tax is paid once a year or another reporting period, if the cryptocurrency for this reporting period has increased in value and just lies in your wallet.
A 15 percent profit tax is a moderate tax. There are countries in which it is installed in a larger amount, there is a much smaller amount or even such a tax has a zero rate.

Not an american but a quick tappity tap on the old google turned up this nice explanation with numbers.

https://masterthecrypto.com/cryptocurrency-taxes-crypto-tax-impacts/

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It's interesting how much taxes a government is able to prove and clay claim to in a pseudo- anonymous environment. I feel people really need to step up their game in regards to the tools they have at their disposal to help maintain a certain anonymity from those that pry.

I feel like I've seen something pretty much every time I post that assists in obscuring connections between people/wallets and coins, I just can't put my finger on it...

I guess in a way fortunately for myself I'm not currently in a Hodl pattern, so for the most part my country doesn't care.

Concidering cryptocurrency is decentralized I am not sure of how tax plays a role in this and if it does there are certain criterias. Depending on who you're selling to, the exchange or other variables it plays a part in the capital gain I guess. But as I said I am not sure and a question like this you should check other sources of information to know for sure.

Capital gains tax is kinda tricky in the U.S.A., unlike other countries where capital gains tax is fixed on all brackets in the U.S.A. how much capital gains tax you will pay will depend on what tax bracket you belong which will vary. Now for how much tax will be imposed to you it is for you to find it out as you are the one who knows what bracket you are part in. Also it will depend on what kind of asset you are holding as short and long term assets will also have different capital gains tax. The period on how long you are holding the cryptocurrecy will determine if it is short or long term.

the tax code is unfortunately a lot more complicated than that.

are you a resident/citizen of the USA, or nonresident alien? that can make a big difference.

if you're a nonresident alien, it really depends what country you're a citizen of because the USA has tax treaties with lots of countries. these treaties can reduce or eliminate your american tax liabilities (including capital gains). see more here: https://www.irs.gov/businesses/taxation-of-nonresident-aliens-1

for nonresident aliens, passive income (like capital gains) is taxed at a 30% rate unless a tax treaty dictates a lower rate.

residents and citizens are taxed differently. capital gains are taxed according to the standard progressive tax brackets (same as other income), unless the capital gains are from property held for 1+ years ("long term capital gains"). depending on your overall income, long term capital gains are taxed at 0%, 15%, or 20%.

Concidering cryptocurrency is decentralized I am not sure of how tax plays a role in this and if it does there are certain criterias. Depending on who you're selling to, the exchange or other variables it plays a part in the capital gain I guess. But as I said I am not sure and a question like this you should check other sources of information to know for sure.

This is in case of using a tracable blockchain. Income through minig is also subjected to the tax reforms.

I think this is a hoax news as bitcoin is decentralized and US government still haven't legalize it so there is no question of 15% tax implentation on it.

i do not know whether it is a scam or speculation or a hoax or actually reality, but 15% gain is somewhat fictional as the blockchain is decentralized and US have not even legalised it yet.

Not so sure about this thing. I will try to look for it in the web. Also waiting to see what others know about this.

Every country is of course different, because they can be taxed in their country, but if it really happens that in the US is taxed, of course many will move there, yes I also want to know the link, he said.

The IRS has made clear that digital currency like Bitcoin already falls under current tax regulations. They released a memo in 2013 (https://www.irs.gov/pub/irs-drop/n-14-21.pdf) defining it as property. Income from transactions involving property is taxable in the US.

They also published a reminder (https://www.irs.gov/newsroom/irs-reminds-taxpayers-to-report-virtual-currency-transactions) earlier this year:

maybe this news is worth checking into the legitimacy of this news, if there is a high bitcoin tax, it is not possible to turn off the bitcoin business, but I don't think this news is true. become a commodity tax if bitcoin is categorized as merchandise.

I think this is true, US IRS consider Bitcoin as an asset, it is similar to stamps, coins or other collectables, if you trade and make a profit, then you are subject to short or long term capital gain tax.

From what I know the 15% capital gains tax is not fixed (it may belong to just a certain tax bracket) in the United States as it will be different across the board depending on how much income you are earning each fiscal year. I won't go into detail as articles found in Google would definitely help you more but just like the Income Tax the rate in capital gains tax will be different from each bracket. Another thing to put in mind is it a little bit more complicated as there is also a classification of short (1 year or less) and long term (greater than 1 year) assets both of which will have different tax rates as well on their respective boards.

Oh man I hope you're not based on the US lol. Then again, even if you aren't, your income from crypto would still be most likely subjected to income tax. If you're not paying because crypto is decentralized, I suggest you read up on your country's tax laws before you get into trouble.


15% is apparently low as far as US capital gains tax go. Short term capital gains tax are rated much higher.

I think this is a good decision. Because there will be more confidence in digital currencies. :)

true in America the ownership of bitcoin starts to be taxed but about the amount of tax determined is still unclear, Americans are indeed chasing taxpayers who don't want to pay taxes, even the American tax authorities or abbreviated as IRS starting hunting taxes back to foreign countries, crypto currencies or bitcoin in any country will be taxed sooner or later.

Does the information valid? Do you experience it or just heard about it? It's hard to give any opinion for the case since bitcoin is decentralized, tax has nothing to do with bitcoin. And I guess this is just a hoax news to make people worry about bitcoin and perhaps walkout from bitcoin world.

Whenever it's true or not, if you're supporting on what platform that you're currently use, it's ok to pay the tax as long as it can operate,right ?
Let say if the tax is high enough, you can make some petition that able being sign together so the government can notice the tax if this is really happen.

Unlike my government that still against crypto , but I'm currently paying 10% from my local exchange !

15% capital gains is a good deal to me because I don't think any country would charge anything less than 10% as it relates to capital gains and if the full principle of capital gains is being implemented here, there is no need to worry because aside the fact that, it will be only on the gain made when conversion is made to fiat, it also allows the cost incurred in buying the coin and other incidental costs incurred such as transaction fees and mining fees to be deducted before the balance is then taxed. With that 15% is something that will encourage voluntary compliance.

15% is too high and will encourage tax evasion. This is not difficult with crypto as there are many privacy coins and ATM machines to stay anonymous