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Hypothetical numbers & query.

karltimber · 2024-03-04 13:28:16

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…

04-03-2024 1:28pm

#1

karltimber

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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.

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Comments

#2 04-03-2024 3:44pm

Louie Large Police
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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.

1