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Does it even make sense to take profits in my case?

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by COINS NEWS 18 Views

I am from germany. If i sell less than 12 months after buying, i pay 42% (fourty fucking two percent, you read that correctly) taxes on my profit. If I hold it longer than 12 months, i dont have to pay any taxes on my profit.

Lets say I bought some coin 1 month ago and it is now worth quite a bit more than when i bought it. I expect the market to crash before my "12 month" timelimit is over. So I see two options right now:

  1. Sell with profit in the next couple of months and throw pretty much half of it away as taxes

  2. Hold until the next bullrun in a couple of years and cash out without having to pay taxes (assuming tax rules dont change and will still be the same when i cash out in a few years)

Does anyone have any advice? Im pretty pissed off to be honest. No one can tell me that taking almost half of someones gains isnt theft. They dont even say thank you when they do it.

submitted by /u/squid456-
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