Cryptocurrency Q&A
Do you have to pay tax if you cash out Bitcoin?
Do you have to pay tax if you cash out Bitcoin?
SolitudeSerenade
Tue Dec 10 2024
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6 answers
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I'm wondering if I have to pay any taxes when I cash out my Bitcoin. I've heard different things about it and I'm not sure what the actual rules are.
6 answers
Silvia
Thu Dec 12 2024
Profit earned from converting Bitcoin to cash is considered income.
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Valentina
Thu Dec 12 2024
Converting Bitcoin to cash can result in a taxable profit.
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Margherita
Wed Dec 11 2024
This type of income is subject to comprehensive taxation, which includes resident tax.
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Lorenzo
Wed Dec 11 2024
Similarly, using Bitcoin to pay for a purchase is also treated as income if a profit is made.
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BitcoinBaronGuard
Wed Dec 11 2024
Individuals are required to file a tax return and pay taxes if their income from Bitcoin exceeds 200,000 yen.
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