You'll have to pay taxes when you collect some profit. The question is when you'll collect it. I assume not this year, so you're not paying it yet. When it's relevant, write to me and I'll give you some advice.
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HonzaCZ
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Hello, can someone advise me regarding taxes in the Czech Republic?
If I buy some stablecoin and then use it to purchase some crypto which I will then exchange only for stablecoins, I won't have to pay taxes until I convert the amounts into fiat currency?
So I need to keep track of how much stablecoin I bought and the resulting sale to fiat currency, and from that, using FIFO, the difference will be calculated which will then be taxed?
If I don't know the initial investment, then I'm in trouble and have nothing to rely on to determine the initial price?
Thank you very much for the explanation.
If I buy some stablecoin and then use it to purchase some crypto which I will then exchange only for stablecoins, I won't have to pay taxes until I convert the amounts into fiat currency?
So I need to keep track of how much stablecoin I bought and the resulting sale to fiat currency, and from that, using FIFO, the difference will be calculated which will then be taxed?
If I don't know the initial investment, then I'm in trouble and have nothing to rely on to determine the initial price?
Thank you very much for the explanation.
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