How to deal with legal/tax issues from RWT selling?

Discussion in 'Cryptocurrency, Finance, & Gambling Discussion' started by Crastle, May 11, 2020.

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How to deal with legal/tax issues from RWT selling?
  1. Unread #1 - May 11, 2020 at 12:39 PM
  2. Crastle
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    How to deal with legal/tax issues from RWT selling?
    I made like 75b this quarantine (chucking at arena) and I am going to cash out today. I am expecting a ban but don't care, I just play rs to stake.

    Anyways, I'm looking at a large amount of cash coming into my bank account from BTC conversion. Anyone know if I need to report this income to the IRS? My understanding is that, in my country, RWT isn't prosecutable by Jagex, so the money is 'clean'.
     
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  3. Unread #2 - May 11, 2020 at 4:32 PM
  4. bargain booze
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    How to deal with legal/tax issues from RWT selling?
    yes you need to pay tax on it in there eyes you earnt it legit
     
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  5. Unread #3 - May 11, 2020 at 4:58 PM
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    How to deal with legal/tax issues from RWT selling?
    Yes, it is income it does need to be reported.
     
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  7. Unread #4 - May 11, 2020 at 6:07 PM
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    How to deal with legal/tax issues from RWT selling?
    It definitely needs to be reported. Don't get into trouble with the IRS over what's probably no more than $10-20k in taxes.
     
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  9. Unread #5 - May 12, 2020 at 8:28 PM
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    How to deal with legal/tax issues from RWT selling?
    75B, damn that's some nice "rainy day" winnings right there.... LOL. Congrats man.
     
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  11. Unread #6 - May 13, 2020 at 9:48 PM
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    How to deal with legal/tax issues from RWT selling?
    Damn those are some nice winnings to cash out on RS... grats man
     
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  13. Unread #7 - May 21, 2020 at 3:02 PM
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    How to deal with legal/tax issues from RWT selling?
    So essentially sell for BTC, then sell to a supplier like me who would be transferring the money to you in fiat. Claim it as paid services you're doing for the person buying all the bitcoin from you. I have a legally registered corp I can help you with if you need someone to buy all the bitcoin in a clean way.

    Good luck!
     
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  15. Unread #8 - May 23, 2020 at 1:54 AM
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    How to deal with legal/tax issues from RWT selling?
    This is the best way to do it. You could reliably transfer BTC to Coinbase and then cash under your own name as a Sole Proprietor and claim "services rendered" et al.
     
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