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/biz/ - Business & Finance

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14100380 No.14100380 [Reply] [Original]

Let's say I'm down -$61,000 in the past year. Is every trade still a taxable event?

>> No.14100390

>>14100380
better question is why the hell are you still trading?

>> No.14100391

depends, and if you did KYC verification you are fucked. Enjoy jail

>> No.14100397

>>14100390
I don't have a job

>> No.14100401

>>14100380
if you lost 61k you can only pay no tax on 3k a yr. thats like 30 years of a 3k deduction. only if you make more than 3k gains in a fiscal year.

>> No.14100408

>>14100380
kys

>> No.14100420

>>14100380
you don't have to report losses but you have to report gains. you can always report old losses in the future if you keep record of the trades.

>> No.14100428

>RenkoBro

The faggot who got every call wrong is down $61k oh nonononohaaahahahahahahahahahahahahah

>> No.14100429
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14100429

>>14100390
KEK

>> No.14100434

>>14100380
also once you owe over 10k in taxes in america at least the irs starts coming after you.

>> No.14100446
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14100446

CPA here,
Yes but there are payment plans available from the IRS. your tax accountant can assist you applying for these programs.

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