We’re trying to make our fantasy baseball league payout in crypto. We thought PayPal would be our platform, but you can only buy and sell and not transfer person to person. My question is there a wallet where we can send to the league winners and not pay Capitol gains?
There will be withdrawal fees when the winner cashes out, but that will be anywhere.
Yeah becasue people are regularly reporting the cash they win in fantasy sports/work march madness pool to the IRS ::eyeroll::
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This is basically a thread asking how to defraud the IRS.
Yeah becasue people are regularly reporting the cash they win in fantasy sports/work march madness pool to the IRS ::eyeroll::
Cash and crypto aren't the same. False equivalency.
It's not though because crypto is completely legal and accepted nationwide as currency.
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This is basically a thread asking how to defraud the IRS.
It's not though because crypto is completely legal and accepted nationwide as currency.
I'm reacting to the asking for help avoiding paying capital gains. Also, regardless that most people know it is currency, the IRS treats it differently. I just don't think it's a good idea to be discussing this on a public forum.
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In comment 15160790 okayrene said:
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This is basically a thread asking how to defraud the IRS.
Yeah becasue people are regularly reporting the cash they win in fantasy sports/work march madness pool to the IRS ::eyeroll::
Cash and crypto aren't the same. False equivalency.
Not reporting winnings to the IRS whether it's cash or crypto is the same. Just a different vehicle. Its like getting paid under the table to avoid taxes.
And AFAIK there is no capital gains on the transfer of stocks, only on the sale, the person who transfers the shares could be subject to a gift tax if it exceeds a certain $$$ amount, but no idea if crypto is different in this regard. but I come back to my one question.