/biz/ - Business & Finance

>>	Anonymous Wed Oct 7 19:42:02 2020 No.23112440 [View] File: 212 KB, 850x1154, 8.jpg [View same] [iqdb] [saucenao] [google] >>23112338 I also read that they sold off DirecTV at only 20% of what they paid for it 5 years ago, not the best sign.

Anonymous Sat Jun 1 17:54:57 2019 No.13956939 [View]
File: 212 KB, 850x1154, __altera_fate_extella_fate_extra_and_fate_series_drawn_by_gogatsu_fukuin__sample-e2b525d2e1b69fc85b6338a79fce9706.jpg [View same] [iqdb] [saucenao] [google]

When do you pay taxes on crypto earnings?

For example, if I invested $1000 in a coin worth 1$, and then the value of the coin doubles, I just made 1000$ in profit right?

But then if the coin dips after and the value halves to what it originally was, I just lost 500$. So If I payed taxes on the 1k earnings I just got taxed even though in the end I ended up losing 500$.

How do I avoid this happening? When am I supposed to report earnings or losses? Logic would tell me I'd only report when I withdraw it to USD but the government isn't logical.

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/biz/ - Business & Finance

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