Wednesday, 21 October 2020

Transfer BTC Ownership From Personal -> LLC - Taxes?

Here’s the example scenario:

  • I buy 1 BTC at $10,000 in a Coinbase account owned by my personal name like “Brad Henderson”.

  • 3 months later, this 1 BTC coin is now worth $40,000.

  • I now set up a different account at a crypto exchange. This account is owned by a business entity of mine like “Green Revival LLC”.

  • I transfer the 1 BTC from my personal account under “Brad Henderson” to my business account under “Green Revival LLC”.

THE QUESTION

Do I have to pay any tax at any point here or am I free to simply shift the ownership of my coins like this?

(BTW I am the sole owner of this LLC)

submitted by /u/BlueRiver4
[link] [comments]

No comments:

Post a Comment