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Laura26, on 10th May. 2024 at 01:32 am CEST
How do you report your crypto betting winnings in taxes?
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How do you report your crypto betting winnings in taxes?
Nobody has liked this post so far
This post has been translated automatically
How do you report your crypto betting winnings in taxes?
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Yes, because if they ask me where I got the wins from and I say for example Stake, that doesn't look so good either or because they are banned so to speak? How do you do that? It's a little bit higher wins in my case
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How do you report your crypto betting winnings in taxes?
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Means if you buy 1 BTC for 20k you hold the 6 months and it rises to 40k and you say okay I go out you have to pay tax on 20k because you have not held 12 months, if you go out after 12 months with 20k plus it does not have to be taxed.
I am not an expert but normally the win on stake counts as a win and wins don't have to be taxed.
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How do you report your crypto betting winnings in taxes?
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In principle, it's no different than when you Deposit 10 € and pay out 100 €
Otherwise it is as Supermode has already said. If the coin itself rises when you leave it and the win happens to the coin itself, you have to pay tax on it.
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How do you report your crypto betting winnings in taxes?
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Yes, but isn't Stake forbidden according to the law of 2021, then I shouldn't have used it at all?
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How do you report your crypto betting winnings in taxes?
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How do you report your crypto betting winnings in taxes?
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Lol... What a bullshit
It's the other way around. Who is supposed to give information if you don't transfer at an exchange?
Even if the tax office is not stupid (which is doubtful), they have their limits with crypto. They don't even manage to take (ex-)eu-licensed eWallets a la Paysafe Hops
Just because the tax office wants something doesn't mean they'll get it....
The morality of this is something everyone has to decide for themselves
The fact is that crypto is (still) one of the most secure transaction methods... as long as you use it correctly.
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How do you report your crypto betting winnings in taxes?
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Then you haven't experienced all the busts that I've been following for the last 5 years, as I happen to work in the field.
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How do you report your crypto betting winnings in taxes?
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Hello, this is not quite as true as you make it sound. Clearly it is not allowed to bet on these gambling sites, but the sites are still normally accessible from Germany, even without VPN or otherwise. Even the operators themselves have nothing against German players and do not try to prevent this, at least with very many sites
No one can prove that you intentionally played on these unlicensed sites while you knew about the lack of licenses. As long as you have stopped from the knowledge
Also, what does this have to do with "dirty coins"? You can get them or not get them anywhere, why coins in gambling sites should be dirtier is not directly clear to me, whereas it may well be that the probability is minimally higher or not. Also, the major crypto exchanges would not accept dirty/mixed coins
Also, if it is punishable, then why do the courts give rulings in which players get their losses back from these gambling operators? Aren't the players themselves punishable then? Even according to the law of 2021? And what do the tax offices have to do with it?
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