[Zamper]

Hello,

First of all I'd like to clear that I'm not from USA, however I had some movements on my bank account of large amount of money and I received a letter from taxes center that they need to know what were these movements and what is my monthly incoming, I explained that I'm a bitcoin trader and they want receipts of the trades to verify this information and pay the correct tax me only for the profit and not the whole amount.

I got involved in bitcoin around in December 2016. They want to see all my receipts of buy/sale of my bitcoins since 2016 and I'm just a trader in LBC,Hackforums,Bitcoin talk forums , sometimes I deal over skype.

I found some receipts of me buying bitcoin but there is only a few and I'm not sure what could happen if I don't find all receipts.


I'd like someone to guide me through this, I obviously want to pay the tax but only for the profit not for my whole investment, that would be ridiculous.

I know many HF members have experience on bitcoin taxing, especially from USA members. So share your opinions on this.

Thank you.
🤝

[Steam]

Visa Reloadable Load N Go, never use your main bank to cash profits to.

[Pain]

Visa Reloadable Load N Go, never use your main bank to cash profits to.

Oh yes load 30k onto a visa load n go!

[Steam]

Oh yes load 30k onto a visa load n go!

It's linked to a bank account. Got any better suggestions?

[Shelob]

How much are we talking about here, and where are you from?

[ririki]

You will simply have to prove what have you done with that income.
Try to provide as many information as possible and get an accountant.

If you won't be able to get all of that, they may want from you to tax your entire revenue.

Edit: You can also probably say that the bitcoin purchase was an investment for your business and you made from it just and only $$$$.

[Pain]

It's linked to a bank account. Got any better suggestions?

I was being sarcastic as loading in a visa is stupid.
You should of been smart and have done lower amounts at a time.

[Steam]

I was being sarcastic as loading in a visa is stupid.
You should of been smart and have done lower amounts at a time.

The sarcasm was obvious, however it doesn't matter. There is no limit, there is no restrictions, stop trying to trump people.
You haven't suggested anything different to what I have...

[PerfectStorm]

Oh yes load 30k onto a visa load n go!

Yeah why not. Smart way to do it.

[F.B.I]

It's linked to a bank account. Got any better suggestions?

Cash from local bitcoins sent to a drop address.

Pay your taxes though I'm not advocating for breaking the law.

[Steam]

Cash from local bitcoins sent to a drop address.

Pay your taxes though I'm not advocating for breaking the law.

Breaking the law or not, I can see why people want to do this.
Australia and Sweden for example are extremely high in taxes.

Honestly, what the ATO doesn't know doesn't hurt them

[PARAZORA]

Take it as a lesson, next time dont move high amounts of money trough your bank accounts unless you plan to tax that.

Localbitcoins, only cash
aliases.

[bruhz]

disgusting, they have so much better things to do yet they find random members who dealt $100 in btc

[Suspect.]

disgusting, they have so much better things to do yet they find random members who dealt $100 in btc

OP said “Large amounts” which clearly means much more than 100, OP should’ve been more careful had he Split the amount into a 1/4 per transfer he wouldn’t of been caught also had he waited a while In between each transfer even better.

[GettingRich]

This is really sad bro
Been using crypto since 2012 and no letter arived to me yet