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by dogma1138
1913 days ago
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That’s not true, converting one asset class into another or in fact any trade would normally trigger a capital gains tax, it’s currently complicated with crypto because it’s new and haven’t been fully tested yet as far as the law goes. From Tesla’s perspective they don’t care they assume and rightfully so that you are responsible for any taxes and accounting obligations on your end, it’s not any different than buying a Tesla with normal currency from profits you haven’t paid taxes yet on. It doesn’t even have to be a trade with a mutual exchange, if you say want to gift a house to your kids or your spouse and you transfer ownership you’ll be liable for capitals gain tax even tho no sale has actually occurred. |
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