Literal welfare faggot here (well, social security, and I don't fuck men, so I guess I'm not a faggot in the literal sense)...
So I bought 108 bitcoin years and years ago, back when it was looking pretty grim, which is now worth ~600k, I've decided I'd like to get out, but how do I explain the sudden massive influx of cash?
I can help you user but you'll have to trust me.
Capital appreciation. U have verifiable proof of purchase price, and sales price. Not much else too it.
I can help you at the cost of 1 btc
1GGKxJoKYwF4ZVnChMgG6j5c5qmVK6RosN
Larping pajeets need to gtfo.
But i don't, or can I produce a record of the price on purchase from a buttcoin wallet?
I'm a little unaware on the concept, as the whole reason I got this opportunity waa dumb luck, wrote down the wallet info, got otherwise distracted, found it years later.
If capital appreciation covers it and I can prove it or at least make it reasonably acceptable... alright then.
Lovely cons, friends. They'll work one day, I'm sure of it!
I poo in the loo, I even burn in the sun.
I don't frequent Veeky Forums, just figured this would be a better place to ask about a huge windfall than adv, because they're literally retarded, do you have a problem with streetshitters?
They will likely make you pay back what you have received in welfare and SS. Do you have anyone that can "gift" them to you? You will have to pay taxes for the gift at the cost basis, but you will anyway. That way you won't have to pay back anything. You just won't qualify any longer.
ILL HELP YOU FOR 5% OF YOUR MONIES
Just cash out 2 BTC locally and gtfo of the US
Fuck the US, dont pay taxes there
Live for a year in another country with no capital gains tax and then cash out
1Lz4TNYqWEemPHR2P3EMtejG3BX4yb6AjH
assuming youre in the US
You have a good amount of money OP. Go find a CPA who knows about cryptos, yes they do exist, and have a long talk with them. You will probably have to pay back your ss your recived over the years.
So the real question is do you think you can grow the sum you have know and live off of it, or not? If you can pay what you owe and cash out, if not cash out small amounts as needed.
checking
get bitpay card and just take out atm cash+ send me 1 btc 1F5uj54BSzsUJfvXZiDSSNpqUeriX26zU3
Do not listen to this retard. If he gifts 600k worth of btc then the IRS is going to come for him in due time (if he lives in the US). OP, you just need to file your taxes, pay on capital gains, and deal with the 300k actuality of your profits than "600k". 300k is a lot for the average man, and since you're living on benefits I'm assuming you live on around
If you have 600k in crypto I would leave the USA to avoid the tax.
continue to get gibbs and sell some coin on localBTC for cash so you can increase your quality of life
you are foolish to sell now for a measly 600k when it will be 10 million dollars in 10 years
deal with this in the future
doesn't work that way. if you're a US citizen you have to pay US taxes no matter where you live.
more like 5 years.
I agree with this. Don't sell everything now. Sell a few so you can upgrade your lifestyle a bit, and cash out a little at a time if you need to. But keep most of them. BTC is going to 6 digits sometime in the not-to-distant future.
Come on OP, go for a million
>On welfare
>Feels the need to assure people on an anonymous taiwanese cavepainting forum that he isn't gay
>Trying to hide money from the same institution that's been providing for him