How do I sell Dogecoin cryptocurrency in the UK?
May 5, 2021 8:16 AM   Subscribe

Dogecoin being in the news made me check my old laptop, and it looks like I have about 3900 Dogecoin in a wallet. I would like to turn this into actual money.

I would also like to know what the tax situation is around this. These coins are from 2014, and were mined on my laptop, so I did not spend anything to buy them.
posted by anonymous to Work & Money (4 answers total) 1 user marked this as a favorite
 
https://www.reddit.com/r/dogecoin/comments/6dbmqs/cant_figure_out_how_to_sell/di1drbu/

pretty straightforward steps. You'll need to tell the IRS how much you sold and it will likely all be taxed under capital gains tax. There's no easy loopholes to this right now as far as I'm aware.
posted by bbqturtle at 8:39 AM on May 5


(Seller is in the UK, we should look into HMRC guidance and not US IRS)
posted by JoeZydeco at 8:42 AM on May 5 [11 favorites]




You will need to also look at guidance on how to report any income from mining, and then look back to see if you did so. It looks like coins from mining should have been taxed as other income and I can assume this would be considered the basis when taxing the gains when you sell. So it's important for you to know if you reported your mining income in 2014.
posted by muddgirl at 9:46 AM on May 5


« Older What did my Iranian roommate feed me?   |   Moving Forward Newer »

You are not logged in, either login or create an account to post comments