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Cash out or hodl

jester77 · 2021-10-29 08:10:49

I'm in Germany, and it is looking like they will change their tax rules regarding crypto. So I can cash out now tax free, or hodl and probably pay substantial tax in the future whenever I would cash out. I don't need the cash now, and I have already cashed out more than I have put in over the years. So anything I currently…

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29-10-2021 9:10am

#1

jester77

Registered Users Posts: 11,264 ✭✭✭✭

Join Date: October 2003

Posts: 10879

I'm in Germany, and it is looking like they will change their tax rules regarding crypto. So I can cash out now tax free, or hodl and probably pay substantial tax in the future whenever I would cash out. I don't need the cash now, and I have already cashed out more than I have put in over the years. So anything I currently have is just profit.
What would you do?

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#2 29-10-2021 11:45am
massdebater

Registered Users Posts: 2,251 ✭✭✭

Join Date: November 2009

Posts: 2171

Not sure what the current rules are there but, if you don't have to pay tax on gains currently, you should maybe try raise your cost basis if possible eg swap Bitcoin for wrapped Bitcoin and back again or something like that if you can, so you'll only be taxed on any gains from current values. I have no idea about German taxes though so maybe ask on a German forum if you can?

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