Taxation implications for greyscale bitcoin trust

[Seeker0Void]

Hi, I have an interactive brokers account as a Non-US citizen, not using the treaty taxes agreement. So I need to pay 30% taxes on dividends.

My question is, what happens if I buy GBTC? Do I need to report on it specifically? How should I be taxed on that as a Non-US citizen with an IB account?

Thanks!

 

[Martin Everson]

Seeker0Void said:
My question is, what happens if I buy GBTC? Do I need to report on it specifically? How should I be taxed on that as a Non-US citizen with an IB account?
Click to expand...

See below:

https://grayscale.com/tax-documents/

Don't touch that product unless you know what you are doing and have a good U.S accountant or tax advisor.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[GeneralGogol]

GBTC is just like any other stock\ETF. You only pay US taxes on the dividends, but GBTC doesn't pay any dividends. Either way IB takes these taxes from you automatically so you don't need to do anything.

You only pay taxes on your capital gains, to the country you are resident in. Maybe if you die there could be inheritance tax in the US