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Hypothetical numbers & query.

  • 04-03-2024 01:28PM
    #1
    karltimber
    Moderators, Home & Garden Moderators Posts: 1,914 Mod ✭✭✭✭karltimber


    Hypothetical !!

    So, I have 1 BTC on my hard wallet and it’s 2025 and price currently at $250K.

    Its enough for me, both profit & risk and I want to sell.

    I move it to an exchange, and sell my 1 BTC.


    Q – I know the future CGT tax implications, but do I move the appox €220k directly to my Irish bank account or can I buy a stable coin and move that to my wallet ?

    To keep all holdings off an exchange and eventually and/or gradually move the Euro to my bank account.


    Cheers.



Comments

  • #2
    Louie Large Police
    Posts: 1,045 ✭✭✭ Louie Large Police


    I would just trade it for euro and send to bank account. My buddy did it last cycle, lived in the UK at the time and got a 34k tax bill.



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