How to sell $300k+ Monero without origin of funds? (monero.town)

submitted 1 year ago by moneroworld@monero.town to c/monero@monero.town

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I bought it in the early days and moved several times due to security reasons. As a result, I'm unable to prove its origin. What would be a viable strategy to cash out?

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[-] OsrsNeedsF2P@lemmy.ml 8 points 1 year ago

Depends on your country. Consult a tax attorney, likely the situation would be that it counts as pure profit since you can't prove how much you initially spent to acquire it.

[-] moneroworld@monero.town 2 points 1 year ago

Tax is not a problem at all, even if I have to declare the whole amount as pure profit. My main concern is a failed SoF check, which could potentially lead to a block on my crypto.

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this post was submitted on 29 Oct 2023

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