Tax on crypto

[cup_saucer]

How do we pay taxes earned on crypto if we have earned any? 

[cup_saucer]

ltt

[princeofheaven]

14 hours ago, cup_saucer said:

How do we pay taxes earned on crypto if we have earned any? 

send your coinbase transactions to the CA he wll take care

[cup_saucer]

antha time untada bhaiya cpa ki.. and moreover.. manam okati koni dantho okati kontam with part of it.. ila chesthara inni opika tho...

 

and one more... coinbase wallet lo ki transfer chesi we didnt transfer to bank account anuko.. thats not an earning yet kada... irrespective of profit or loss

 

[princeofheaven]

27 minutes ago, cup_saucer said:

antha time untada bhaiya cpa ki.. and moreover.. manam okati koni dantho okati kontam with part of it.. ila chesthara inni opika tho...

 

and one more... coinbase wallet lo ki transfer chesi we didnt transfer to bank account anuko.. thats not an earning yet kada... irrespective of profit or loss

 

as long as you did not book USD profit you are fine

[cup_saucer]

Just now, princeofheaven said:

as long as you did not book USD profit you are fine

ante... wallet name says USD wallet kada... so mana real account transfer ayye varaku... "realized income" ani term cheyaru kada.. and we pay tax on only realized income kada.

[princeofheaven]

4 minutes ago, cup_saucer said:

ante... wallet name says USD wallet kada... so mana real account transfer ayye varaku... "realized income" ani term cheyaru kada.. and we pay tax on only realized income kada.

USD wallet is a funny name coinbase gives to their depository account it is  an FDIC account. Pettina USD mida ochina profit mida nuvvu tax kattali

[cup_saucer]

2 hours ago, princeofheaven said:

USD wallet is a funny name coinbase gives to their depository account it is  an FDIC account. Pettina USD mida ochina profit mida nuvvu tax kattali

exactly... so aa usd lo unte its not yet profit kada? as you cant access the hard cash unless you transfer... so thats not the profit yet kada

 

[alooparata]

23 hours ago, cup_saucer said:

How do we pay taxes earned on crypto if we have earned any? 

crypto endhi ra 

[cup_saucer]

On 10/25/2017 at 7:56 PM, alooparata said:

crypto endhi ra 

ra theesi adugu... 

[Manikyam]

1 minute ago, cup_saucer said:

ra theesi adugu... 

yes sir

[cup_saucer]

37 minutes ago, Manikyam said:

yes sir

im talking about crypto currency bhaiya... bitcoin, ethereum, vertcoin.. ee madya db lo gola chesina electroneum are few examples..

 

[karthiksiri]

On 10/25/2017 at 2:24 PM, cup_saucer said:

exactly... so aa usd lo unte its not yet profit kada? as you cant access the hard cash unless you transfer... so thats not the profit yet kada

 

Bro, until you don’t withdraw(trade out) it’s non taxable income... once if you withdraws ur coins then your profits info needs to go IRS

[cup_saucer]

1 minute ago, karthiksiri said:

Bro, until you don’t withdraw(trade out) it’s non taxable income... once if you withdraws ur coins then your profits info needs to go IRS

i get that bhaiya... nen inka vere exchanges try cheyaledu.. so my knowledge is stuck at coinbase. may be anduke i dont know answer..

my question again is.. nen coinbase lo coin sale chesthe usd wallet loki transfer cheyochu... its not accessible to me yet unless i transfer to my account right.. so ee case if i still keep it in my usd wallet. is it taxable.. or taxed only when i withdraw them?

[princeofheaven]

9 minutes ago, cup_saucer said:

i get that bhaiya... nen inka vere exchanges try cheyaledu.. so my knowledge is stuck at coinbase. may be anduke i dont know answer..

my question again is.. nen coinbase lo coin sale chesthe usd wallet loki transfer cheyochu... its not accessible to me yet unless i transfer to my account right.. so ee case if i still keep it in my usd wallet. is it taxable.. or taxed only when i withdraw them?

coin base USD wallet is equivalent to cash man, you can request coinbase to send you a  debit card and you can use it to buy pizza coffee etc. The money is perfectly taxable in USD wallet.

Only in crypto form like ETH BTC it is unrealised profit