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RE: AMFEIX - The First Blockchain Fund Built On Smart Contracts
Take a look at the tax law for the US. Since 2008 the new tax law has said that Americans owe taxes on every trade, even if they are just selling BTC to buy an altcoin. Just do a search.
yes I get this.. but why should it be any different if it is in a fund?
Well you don't owe taxes on someone ELSE's trading. Think of investing money into a mutual fund with say Vanguard. Do you even know what trades they are making on your behalf? Of course you don't. You just pay taxes on the profits when they go into your account. Same thing.