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PaperclipPerfector  1yr ago (text post)   4597 thread views

Small-Scale Question Sunday for June 2, 2024

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

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Welp. I found my password for a very old btc wallet from 2013. It contains more than I thought. Nothing life changing, but a significant chunk of change.

What do I do with it? I just opened the wallet file with multibit classic. Where should I transfer the balance to secure it better? Hardware wallet or something?

How do I explain this to my country's tax administration?

You shouldn't need to explain anything until you sell it, unless your country has some kind of asset reporting requirement. Like Fuck said spending it directly in small chunks is probably safest.

We do have an asset reporting requirement for any and all crypto. Probably related to our wealth tax.

Buying any goods or services with crypto must be reported for taxation too. The amount used for the purchase would get over 20% gains tax on it.

Not sure what I could spend it on anyhow without risking being discovered, if I were to try to keep it secret. But I'm a perfectly law-abiding citizen. Yup.

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