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COTI - Currency of the Internet COTI - Currency of the Internet
Kuldeep-

Which country if i may ask ? :D

#coti #cryptocurrency #english
0

20 ответов

19 просмотров
Manumix-

Check what an "Veräußerung" is. That's the taxable event in Germany

0
02.02.2022
Kuldeep- Автор вопроса
Manumix
Check what an "Veräußerung" is. That's the taxable...

so if i buy a coin and sell it and then buy another one and hodl, on which do i pay taxes, first one only right ? unless i sell second one too ?

0
02.02.2022
Kuldeep- Автор вопроса
Manumix
Check what an "Veräußerung" is. That's the taxable...

and i think every trade is taxable, as long as it was in profit ?

0
02.02.2022
Manumix-
Kuldeep
so if i buy a coin and sell it and then buy anothe...

Exactly. Or you just wait 365days between buy and sell and you are tax free. I recommend you to install "Cointracking" to keep your taxes right

0
02.02.2022
Kuldeep- Автор вопроса
Manumix
Exactly. Or you just wait 365days between buy and ...

thanks a lot will give it a shot ? any recommendations on helping with tax returns ? i will have to report this year i believe

0
02.02.2022
Manumix-
Kuldeep
thanks a lot will give it a shot ? any recommendat...

Software Cointracking. Very used on Germany and overall one of the best out there. They have even a Telegram group and peeps are helpful there

0
02.02.2022
Kuldeep- Автор вопроса

cool thanks a lot

0
02.02.2022
Manumix-
Kuldeep
cool thanks a lot

I downloaded it last year to make the tax report for 2020 and previous years. It's a bit tricky at the start, a bit overwhelming I would say but at some point it's easy. Good thing is it keeps track of your gains and losses very well too. 😊

0
02.02.2022
Kuldeep- Автор вопроса
Manumix
I downloaded it last year to make the tax report f...

awesome, do you know what happens in case of things like airdrops OR rewards that you earn from lets say cardano staking ? .. same rule applies ? if u sell after one year then no tax ?

0
02.02.2022
Kuldeep- Автор вопроса

but only when you sell them ?

0
02.02.2022
Manumix-
Kuldeep
but only when you sell them ?

Nop. At the moment of reception. That's why free coins could be risky. Imagine you get 1000 Coins for free (staking or airdrop), total price at reception is 1000USD. Imagine your tax rate is 30% (up to 45% in Germany depending on income). So you owe already 300USD to the to the tax admin. Imagine you don't sell and 6 month later the price of that coins dropped 80% 😖. Well you owe still 300USD but your coins are worth now 200. Yup, that's how it works. Possible solution is to sell that 30% at the moment of reception and you have the cash ready for the taxes.

0
02.02.2022
Kuldeep- Автор вопроса
Manumix
Nop. At the moment of reception. That's why free c...

yeah makes sense, thanks :)

0
02.02.2022
Kuldeep- Автор вопроса
Manumix
Nop. At the moment of reception. That's why free c...

or move to portugal :D

0
02.02.2022
Manumix-
Kuldeep
or move to portugal :D

True 😅 But we can't complain on Germany. I just learned to make looking trades/holds

0
02.02.2022
Kuldeep- Автор вопроса

atleast it is free after one year, worse is USA i guess

0
02.02.2022
Manumix-
Kuldeep
atleast it is free after one year, worse is USA i...

Worse is the whole world appart from a few countries. At least Germany rewards holders

0
02.02.2022
Kuldeep- Автор вопроса
Manumix
Worse is the whole world appart from a few countri...

true , even India is acting like bunch of morons now

0
02.02.2022
Manumix-
Kuldeep
true , even India is acting like bunch of morons n...

Yeah, every country wants its cut. Depends on how in dept they are and how much they like crypto (or feel threatened by it) they are taxing more or less

0
02.02.2022

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