welter
@fun
has anyone withdrawn $20k or more of btc/eth to their bank account? how is it taxed? what's the best way to withdraw crypto to bank/cash with litte to no tax?
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matthewb.eth
@matthewb
offramping isn't the taxable part, it's swapping ETH to e.g. USDC for which you'll pay capital gains depending on your cost basis typically I'll swap ETH to USDC via DEX to get a better rate than a CEX and then offramp the USDC. my accountant recommended Koinly for tax reports and it worked fine.
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matthewb.eth
@matthewb
some context here: https://warpcast.com/matthewb/0x4172b067
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