Avoiding crypto tax

Poland my friend.
No cryptocrypto tax here, ez life.

I like Poland but what would I need to do to get a passport? I'm not slavic

When you see this you know we are in a bullrun.

can't help you with that unfortunately, just moved in myself from EU not long ago

>US
>not ordinary income
lmfao

i've heard that the US govt makes you prove you've paid all taxes over last 10 years in order to give up your citizenship. Real prison colony shit but wouldnt surprise me

You launder them OP.
Just like drug money.

Attached: hacekr.gif (573x322, 3.81M)

if youre a fan of getting your wealth robbed by lukashenko-chan then go ahead

We're taxed 33%, dingus

Yeah Portugal gets mentioned ad nauseam on here.

IIRC even if you renounce, you still have to pay taxes before you renounce. See exit taxes.

On spain is taxed as capital gains that map is bullshit.

Does USA tax you on unrealized capital gains if you renounce?

Capital gains?
How would they figure your cost basis?

For example I have a bunch of crypto on various wallets, some purchased thru US exchanges, some p2p ca. 2013, some exchanged via crypto pairs etc. What happens when I try to pull some into rubs through qiwi / sberbank?

That's fine, I haven't sold anything. The goal is to renounce so I don't have to break laws

They probably would want to but how are they gonna know what I have in my wallet?

fair enough. but also most non shithole countries make you live there for like 8 years before you can even qualify for citizenship. dontthink you can renounce USA until you have another passport

No, but most traders here don't even know what realized gains are. If you bough and held the coin, it is unrealized. If you are actively trading, you realize the gain (or loss) with each trade and those gains are applied to that tax year.
The most tax efficient way to buy and sell crypto in the us is to simply hold for at least a year and then sell. The maximum long term gain would be 20%.
For those that have been trading and not tracking/declaring, you are technically in violation, though it would likely never come up unless you are audited, or moving some serious funds, (like 20k+)
As for renouncing citizenship, that will almost certainly trigger an audit.

Doesn't the Puerto Rico residency thing work any more? I thought you could move there for six months and cash out as much as you wanted.

You can also cash out up to about $34K (I forget the exact amount) with 0% long-term capital gains tax if you just hold for a year.

All that without doing anything illegal or renouncing your citizenship or anything.

Absolutely based.
Ones with the big vision know, citizenship will be gladly traded for btc in the future.

>0% long-term capital gains tax if you just hold for a year.
This, and it is up to $53,600.
Long term capital gains tax caps out at 20%

Will gubment get the ginance.com?
In minecraft of course

They seem to be taking a random screening approach to crypto and yeah, the IRS has options in virtually every nation the us trades with, which is effectively all nations.
In most cases, the person is charged back taxes, plus a fuck you penalty. Under normal circumstances, they reserve the right to audit anyone up to 3 years later, 6 years for especially large earnings, and there is no statute of limitations on willful obfuscation (fraud).
Considering the permeance of blockchain and the fact the IRS can freeze any bank account globally, there is going to be a lot of people absolutely fucked in the coming decades.

Oh damn that's perfect for me.