Local Bitcoin - Moneygram

If someone uses moneygram to send large amounts of money to get bitcoins, do you have to include the money you send on your taxes? I've tried searching everywhere to find this answer but I can't find anything. Only reason why I ask is because I thought western union said you have to. Also, if you do have to include it, what would you put it down as? Thanks to anyone who can help.


Comments


[1 Points] None:

Just don't file taxes. Problem solved.


[1 Points] robynbanxxx:

I sure didnt claim any bitcoins on my tax return


[1 Points] DooshNozzzle:

if you make money from bitcoin sales you have to pay capital gains tax on it.

but if it's not tied to your ID then just don't report it, duh


[1 Points] Dabigmons:

I think sending money via Moneygram in large quantities might cause some issues but I have never had large amounts of cash to send so I wouldn't know I am poor.... I highly doubt you would need to include money you spend like this on your taxes but any profits probably.

I found this FUNDAMENTAL REQUIREMENTS OF YOUR ANTI-MONEY LAUNDERING COMPLIANCE PROGRAM http://corporate.moneygram.com/Documents/Corp%20site%20docs/Compliance/US%20Agents/pocket_insert_1.pdf


[1 Points] None:

By law you should report it, BUT they will never know if you don't tell them. You don't fill out any tax paper work for money gram, moneygram doesn't not know your social security number so they can not report the amount of money you sed or receive to the IRS. You are especially fine if you have received cash payments from money gram. Hope this helps


[1 Points] None:

They know!


[1 Points] GetjobyoufukinSLOB:

how much is "A Lot"?

That means different shit to different people.

$500, that shit doesn't matter

$5000 eyebrows could be raised

$10,000 - welcome to the watch list broksisiiisi