|
Title: Capital Gains Tax Post by: awigaxeh-443 on March 17, 2012, 03:37:58 AM Canada
Earnings X 50% X ordinary income tax bracket $100 X 50% X 43% = $21 USA Short term gains: ordinary income tax rate Long term gains/Eligible Dividends: 15% BITCOIN DOES NOT COUNT AS PER THE 15% therefore you are taxed the normal rate. Title: Re: Capital Gains Tax Post by: Gabi on March 17, 2012, 01:01:42 PM I suppose bitcoin is taxed only if you sell it for dollars. Otherwise it's just a virtual thing.
Or now they will tax also my EVE Online ISK? After all i could sell them for bitcoins... Title: Re: Capital Gains Tax Post by: awigaxeh-443 on March 17, 2012, 01:20:18 PM Look one way or the other, you're going to have to convert it to dollars, right? I mean you can't keep it virtual forever.
Unrealized tax gains cannot be taxed. Title: Re: Capital Gains Tax Post by: memvola on March 17, 2012, 02:54:39 PM Look one way or the other, you're going to have to convert it to dollars, right? I mean you can't keep it virtual forever. I for one don't have any plans to convert my "personal" bitcoins back to fiat money in the near or distant future, with the exception of acting as a middleman. However, when I spend coins, it us usually converted to fiat by the other party, and therefore taxed, so you are effectively right. Or now they will tax also my EVE Online ISK? I guess the question is, what if you accumulate all your profits as something that cannot be taxed, but can be exchanged? Title: Re: Capital Gains Tax Post by: Gabi on March 17, 2012, 03:23:39 PM I can exchange EVE Online isk for bitcoin, but this doesn't mean i have to report my isk as income. Same for wow gold and whatelse.
Title: Re: Capital Gains Tax Post by: awigaxeh-443 on March 17, 2012, 03:46:54 PM I can exchange EVE Online isk for bitcoin, but this doesn't mean i have to report my isk as income. Same for wow gold and whatelse. Tell me where I can do this? Title: Re: Capital Gains Tax Post by: Gabi on March 17, 2012, 03:50:58 PM Selling them for bitcoin for example?
Title: Re: Capital Gains Tax Post by: awigaxeh-443 on March 17, 2012, 03:56:40 PM Exchanging... I play Eve Online as well.
|