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Online Casinos in general: Declare crypto casino wins for tax purposes? (Page 2)

Topic created on 14th Aug. 2024 | Page: 2 of 3 | Answers: 43 | Views: 3,443
gamble1
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Declare crypto casino wins for tax purposes?

16th Aug. 2024, at 06:00 pm CEST#16
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mdwa2 wrote on 16.08.2024 at 14:46:

Oh so that's why you just assume that now?

I assume that because wins are always tax-free in every possible context as long as they are profits and not the result of targeted speculation or work

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rambo23
Rookie

Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 11:38 am CEST#17
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morallyreprehensible wrote on 16.08.2024 at 16:11

What is there not to understand? Gambling winnings no matter where in what are tax-free here. Period.

However, gamblejoe itself states that wins generated from online gambling outside the EU are taxable 😅

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MisterL
Expert

Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 01:11 pm CEST#18
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wins are confiscated + penalty

see ulli hoeness

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rambo23
Rookie

Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 01:22 pm CEST#19
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MisterL wrote on 18.08.2024 at 13:11: wins will be confiscated + penalty

see ulli hoeness

Hoeneß has evaded taxes. He had to pay them back plus a fine. He had no wins from unlicensed casinos. You often read here that someone didn't have to pay anything back etc. But legally speaking, wins from casinos that are not licensed in Europe are taxable. That's what it says on gamblejoe. So I have no idea how you other two users always come up with the idea that it is basically tax-free.

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Hanshanshans
Elite

Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 01:46 pm CEST#20
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rambo23 wrote on 18.08.2024 at 13:22:But legally speaking, wins from non-European licensed casinos are taxable. That's what it says on gamblejoe. That's why I have no idea how you other two users always come up with the idea that it would basically be tax-free.

Where is that stated here?

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moralischverwerflich
Expert

Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 02:17 pm CEST#21
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https://www.businessandmore.de/steuer-und-recht/item/726-steuern-gluecksspiel-die-wichtigsten-fragen-und-antworten.html

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gamble1
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Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 04:52 pm CEST#22
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morally reprehensible wrote on 18.08.2024 at 14:17: https://www.businessandmore.de/steuer-und-recht/item/726-steuern-gluecksspiel-die-wichtigsten-fragen-und-antworten.html

So already no GJ the link I think was car correction ?


You don't pay taxes on it either, take a look at what exactly is in your link:

In order not to pay taxes, the wins must have been made in the EU. The wins must come from providers who have a gambling license from the EU and pay tax on their turnover in accordance with the regulations.

For example, if the winnings come from a casino with a license from a Caribbean country or from Las Vegas and the winnings here exceed €10,000, cash imported must be declared to customs . Winnings from a country outside the EU must be declared, but no taxes are levied . However, these wins can be confiscated, as only gambling with a Provider licensed in the EU is legal.

This is only about the import, but you are not accusing yourself of a criminal offense, namely "participation in illegal gambling" would not be particularly clever

Apart from that, the link is quite outdated because currently only DE casinos are allowed without exception and therefore everything is prohibited

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rambo23
Rookie

Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 06:09 pm CEST#23
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gamble1 wrote on 08/18/2024 16:52:
So already no GJ the link I think was car correction ?


You don't pay taxes on it either, take a look at what exactly is in your link:

In order not to pay taxes, the wins must have been made in the EU. The wins must come from providers that have a gambling license from the EU and pay tax on their turnover in accordance with the regulations.

For example, if the winnings come from a casino with a license from a Caribbean country or from Las Vegas and the winnings here exceed €10,000, cash imported must be declared to customs . Winnings from a country outside the EU must be declared, but no taxes are levied . However, these wins can be confiscated, as only gambling with a Provider licensed in the EU is legal.

This is only about the import, but you are not accusing yourself of a criminal offense, namely "participating in illegal gambling" would not be particularly clever

Apart from that, the link is quite outdated because currently only DE casinos are allowed without exception and therefore everything is prohibited

https://www.gamblejoe.com/ratgeber/steuer-auf-gluecksspiel-gewinne/


It's about the link.
Might be stupid but not that stupid. I understand that you use Coinbase. You are aware that Coinbase 2026 will report all transaction data to the tax office or make it available 😅

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Anonym

Declare crypto casino wins for tax purposes?

18th Aug. 2024, at 07:57 pm CEST#24
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rambo23 wrote on 18.08.2024 at 18:09

https://www.gamblejoe.com/ratgeber/steuer-auf-gluecksspiel-gewinne/


It's about the link.
Might be stupid but not that stupid. I understand that you use Coinbase. You are aware that Coinbase 2026 will report all transaction data to the tax office or make it available 😅

Where did this Coinbase thing come from?

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gamble1
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Declare crypto casino wins for tax purposes?

19th Aug. 2024, at 12:01 am CEST#25
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Liked this post: Avatar von moralischverwerflich moralischverwerflich

rambo23 wrote on 18.08.2024 at 18:09

https://www.gamblejoe.com/ratgeber/steuer-auf-gluecksspiel-gewinne/


It's about the link.
Might be stupid but not that stupid. I understand that you use Coinbase. You are aware that Coinbase 2026 will communicate all transaction data to the tax office or make it available 😅

Yes and ? My transactions clearly show that I don't hold any coins, I don't earn anything from the price, so what should the tax office be interested in? Really nothing

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Anonym

Declare crypto casino wins for tax purposes?

19th Aug. 2024, at 08:08 pm CEST#26
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gamble1 wrote on 19.08.2024 at 00:01:

Yes and ? In my transactions it is clear to see I do not hold any coins I do not earn anything on the course so what should the tax office be interested in? Really nothing

Do you think they can tell the difference?

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gamble1
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Declare crypto casino wins for tax purposes?

20th Aug. 2024, at 03:21 am CEST#27
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mdwa2 wrote on 19.08.2024 at 20:08:

Do you think they can tell the difference?

Of course they can, I only do minus

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moralischverwerflich
Expert

Declare crypto casino wins for tax purposes?

20th Aug. 2024, at 05:39 am CEST#28
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mdwa2 wrote on 19.08.2024 at 20:08:

Do you think they can tell the difference?

Of course they can. You can see what price was bought and sold at.

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Anonym

Declare crypto casino wins for tax purposes?

20th Aug. 2024, at 06:05 pm CEST#29
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morallyreprehensible wrote on 20.08.2024 05:39:

Sure. You can understand at what price was bought and sold.

Yes, but if you get your cryptocurrency from a casino or a wallet and sell it immediately, then you haven't traded it, have you?

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moralischverwerflich
Expert

Declare crypto casino wins for tax purposes?

21st Aug. 2024, at 11:34 am CEST#30
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mdwa2 wrote on 20.08.2024 at 18:05:

Yes but if you get your cryptocurrency from a casino or wallet and sell it immediately then you haven't traded it have you?

No. If you take your time selling and the price changes too much upwards, then of course you have. But since you usually do everything in a short period of time when gambling, you won't normally have any problems. Especially as the purchase and sale price is always different from the real price. Rough example:

If the real LTC price is €60, the exchange will sell it to you for €61 and buy it for €59. So you already have a €2 buffer per coin when selling. But this is really just a rough example. This way, you won't have any problems if the price rises by a few % while you are gambling.


I've already had a tax calculation thing done via an exchange, where everything is automatically transferred to purchases and sales. That was last year or the year before last🤔 I'll have a look in the folder when I get the chance. There was also zero on the bottom line for "tax to be paid"
So I don't seem to be doing anything wrong the way I'm doing it. That's why I don't care what some people say about my statements.

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