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<p>[QUOTE="Cloudsweeper99, post: 877491, member: 3011"]If you asked your accountant for 5 years in a row and haven't received an answer, you need a new accountant.</p><p><br /></p><p>Taxes are, of course, just part of the game. I don't know what you mean by "commissions" unless you have hired someone to sell them for you. There are no "commissions" on coin sales or purchases -- only the bid/ask spread. If you use the search function, I'm sure you can find many threads on the topic of taxes. But what is there to say? You can (1) keep the coins, defer the tax on the unrealized gain, and let it ride; (2) sell the coins, realize the gain and pay the tax; or (3) wait until a downturn in the coin market so you can sell at a loss and not worrry about the gain or tax. But what you have really isn't a tax issue. It is an asset allocation issue. It sounds like you may have substantial money tied up in the coins. It is up to you and your advisor to determine whether this is right for you.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 877491, member: 3011"]If you asked your accountant for 5 years in a row and haven't received an answer, you need a new accountant. Taxes are, of course, just part of the game. I don't know what you mean by "commissions" unless you have hired someone to sell them for you. There are no "commissions" on coin sales or purchases -- only the bid/ask spread. If you use the search function, I'm sure you can find many threads on the topic of taxes. But what is there to say? You can (1) keep the coins, defer the tax on the unrealized gain, and let it ride; (2) sell the coins, realize the gain and pay the tax; or (3) wait until a downturn in the coin market so you can sell at a loss and not worrry about the gain or tax. But what you have really isn't a tax issue. It is an asset allocation issue. It sounds like you may have substantial money tied up in the coins. It is up to you and your advisor to determine whether this is right for you.[/QUOTE]
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