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To: Vermont Lt

How do you liquidate bitcoin into dollars without triggering a tax red flag? That was always my concern.


59 posted on 12/12/2017 9:47:35 AM PST by fwdude (Why is it that the only positive things to come out of LGBT organizations are their AIDS tests?)
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To: fwdude

Taxes are taxes. Trying to avoid them will result in a bad time for you.

I doubt there is going to be much “localbitcoin” action when we are talking $10k.

My initial, long term holdings started at about $3,400. I could not cash out today without a parade of tax accountants coming through my life. It is in the deep six figure range. What a problem to have.

For the time being, bookkeeping is horrific unless you buy and hold. Then its an easy capital gain calculation.


64 posted on 12/12/2017 10:01:05 AM PST by Vermont Lt (Burn. It. Down.)
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