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Crypto Tax Question - Cash Purchases

otccryptoguy

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Oct 10, 2022
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Right im sure everyone sick of these threads but its what im here for so here it goes...

Bob has been buying cryptocurrency with cash he makes from selling roses he grows in his garden. He sells his roses to people for cash. None of this is reported to the tax authorities as it comes under the minimum amount.

He has been buying crypto currency for years via offline brokers who now vanished from the planet with 0 trace..

He has around 200k in crypto currency of which has been 'mixed' (split into mannny addresses and reffered back to the same end wallet - untraceable from original source)

Bob would like to cash out his crypto so he can buy assets in his name somewhere in the world with the 200k. Ideally bob would have this money cashed out and in his bank account but is worried about paying taxes and having to declare where he initially brought the crypto and has no proof or receipts of this.

How can we help bob?
 

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