Online Casinos in general: Declare crypto casino wins for tax purposes? (Page 3)

morallyreprehensible wrote on August 21, 2024 at 11:34 am:

Nah. If you take your time with selling and the price changes too much upwards, then of course it does. But since you usually do everything in a short period of time when gambling, you usually don't 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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mdwa2 wrote on 05.09.2024 at 18:36:

Have you looked in your folder?

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mdwa2 wrote on 05.09.2024 at 18:36:

Have you looked in your folder?

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morallyreprehensible wrote on 06.09.2024 06:46:

For last quarter 22 and first 3 quarters 23 that was.

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mdwa2 wrote on 06.09.2024 at 21:04:

And now you don't do that anymore or what?

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morallyreprehensible wrote on 06.09.2024 at 21:52:
What should I do?
I only have the tax calculated for coins where I definitely have to pay tax. For Bonk, Pepe and Shib with which I have made price gains. But I don't use them for casino either. So that's a completely different topic.

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mdwa2 wrote on 07.09.2024 00:09:

And for coins that you play with in the casino and win and then send back to the exchange and sell in euros and then transfer to your bank account, you don't do that?

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morallyreprehensible wrote on 07.09.2024 at 22:55:

For the second time: Nope. Why should I? No capital gains, no tax due. So.

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mdwa2 wrote on 08.09.2024 at 16:37:

And how do you want to tell the tax office that you receive € 750 in LTC or BTC from the casino, for example, and then sell it for € 750, perhaps minus the exchange's sales fee, and send it to your bank account. What if the price rises by 5% at the moment you pay out? At €750, that would be €787.50 in the end, a win of €37.50, which would already be a price gain, wouldn't it?

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mdwa2 wrote on 08.09.2024 at 16:37:

And how do you want to tell the tax office that you receive € 750 in LTC or BTC from the casino, for example, and then sell it for € 750, perhaps minus the exchange's sales fee, and send it to your bank account. What if the price rises by 5% at the moment you pay out? At €750, that would be €787.50 in the end, a win of €37.50, which would already be a price gain, wouldn't it?

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morallyreprehensible wrote on 08.09.2024 at 17:36

Even if that were the case, no tax would be due as it doesn't exceed the exemption limit.

But you seem to talk your mouth off anyway without anything getting through to your brain.

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mdwa2 wrote on 08.09.2024 at 21:42:

And let's assume I do this so often and then exceed the allowance?

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morallyreprehensible wrote on 09/09/2024 07:07:

You already got that answer here.

Just read and understand

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Mallpall wrote on 09.09.2024 at 07:48:

Seems more like he doesn't want to understand that - the way it was described here, anyone should be able to understand it.

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