NFTs

Out of context: Reply #192

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  • microkorg0

    Wonder what the deal is with the tax man and crypto made from selling NFTs? Like if you made a load of sales do you have to declare it? Or would it only be if I converted crypto currency income to FIAT and put into my bank that i'd have to declare.

    With more companies looking to accept Bitcoin as payments, banks are never going to know your money comings and goings which means taxman is never going to know either.

    microkorg 0Permalink
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    • Found some info http://shorturl.at/a…microkorg
    • Personal Investment = Capital Gains tax at cashout
      Business Activity = Income Tax      microkorg
    • As taxman couldn't request access to cryptowallet account like they could with a bank to look into your ins/outs so they are relying on you declaring truthfullymicrokorg
    • Any money one makes is taxableGnash
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