/biz/ - Business & Finance

heres the other pages
guys please advise me what to do

Pay your fair share faggot

>>15003877
Jews gotta Jew

you guys said i just had to pay taxes when i cashed out
i made so many fucking trades this is impossible
wtf is gonna happen

>>15003940
In worst case scenario you get to go to jail and get raped by jamal

What platform were your trading on? One with KYC?

Amend tax returns with these.

>tfw moves abroad years ago
>transferred hundreds of thousands to my friends crypto addresses and cashed out here
>IRS has no fucking clue where I live
>No tax letter
Feels good

>>15004053
yeah i did KYC on coinbase bittrex poloniex and traded on binance without KYC

were you part of the coinbase subpoena?

>>15004095
I should note that I’ve traded hundreds of thousands worth of crypto via Coinbase and Gemini, like wtf for the IRS really not know how to reach me?

>>15003877
I thought you only had to pay taxes when you withdrew your money? I have tons of money that I've made from trades and have stored in DAI. Am I going to get taxed on this? I use Binance to trade

>>15004110
>I thought you only had to pay taxes when you withdrew your money?
me too thats what everyone here kept telling me so thats what i did. i paid taxes on everything i cashed out and now i get shit bullshit letter

>>15003877
>virtual currencies

nope do not have any linden dollars or wow gold. thank you.

>>15003890
delete facebook
hit the gym
lawyer up

unironically we have 2 choices as a crypto community
we can continue the crabs in a bucket mentality and watch as each of us fall one by one.
or
we could form a lobbying group to change crypto tax laws (or lack of) in our favor or at least in a more sensible approach
i feel like we will continue down the option one road however

>>15004125
They can't possibly tax us based on our trades and transactions. These are points on a screen that people give value to, it would be like taxing people for exchanging trading cards which people also assign a value to but themselves are worthless scraps of cardboard. Godspeed OP, just give them the information they want and assume you haven't done anything wrong.

These fuckers aren't getting my internet points.

>>15004125
no you dingaling. you have to record trade to trade. if you bought 1 BTC at 5k, used it to buy $link and sold back to BTC making 2 BTC at 5k.. then bought the top of REN and exited losing 1.5BTC.. and cashed out your .5 via cbase.. you still owe for your stinky gains.. they were realized when you used them to buy REN. not to mention i made this easy by keeping the BTC price static ay 5k.. shit is a mess.

look, dont freak out. get a crypto tax person to help you and just prepare to pay. you arent going to jail anon. worst case, set up a payment plan, and pay the plan by getting a crypto loan. they arent taxed and you can hold off long enough to hit the bull run of the century. relax.

>>15004125
Imagine getting your tax advice from a bunch of degenerates on a Mongolian basket weaving message board
The absolute state.

>>15003877
what year were you making trades big trades on coinbase/bittrex/polo

>>15004066
This. I used this form, auto generated it from some tool online that scrubbed my trades with API tools or some shit.

Idk if I recieved a letter yet but I put like 10k in 2017 but never cashed out anything cause I got hacked but in the process day traded a lot up to that point. What would I do? I literally have no money.

>>15004197
>just give them the information they want
i can print out everything i got but idk how to calculate this and amend my returns. seriously i made thousands of trades how can they expect me to do this

>>15004202
but thats like impossible because i made thousands of trades. i paid taxes on what i actually cashed out this is fucked

>>15004210
i got into crypto 2015 and been trading since then

>>15004234
what tool? and was it accurate?

were you part of the coinbase summons?

>>15004331
>got into crypto 2015
nice. wish i did this instead of gambling

>>15004359
i dont think so. whats coinbase summons and how do i find out if im part of it?

>>15004384
I think he's talking about the thing where people who had 20k+(?) on coinbase received a warning in the mail about making sure to tax your crypto

>>15003877
Honestly everyone should be replying that they got the letter in error, and inquire as how to respond further.

>>15004331
Hire a CPA who is also an "enrolled agent".

There are online tools that will import all the numbers and do the math for you. Some of them will even print out the forms. The CPA/EA will have the tools if you can't find them online.

The only issue is that you have to go into your crypto accounts and GET THE NUMBERS. Look up your trading history, copy all the data, and save it to a fucking text file. Do it now before the exchanges dump their records due to data retention policy time limits.

By having a CPA/EA sign off on your return, the IRS will know that (1) you've gone over the information and have probably done it correctly, and (2) you've got someone who knows the processes if they go after you, so they're less likely to try to shaft you.

There's a CPA who is posting all over r/bitcoin the last few days, trying to drum up business. Maybe go there and look for his posts and get in touch with him. Or just look in the phone book locally to you (if you're in a big city where they're likely to have heard of crypto).

>t. Byran Stiernagle, Program Manager

he's gonna nail you down like a bull

>>15004815
REMINDER: if you give "Anyone" info and access to your accounts, they could STEAL everything you fucking own. You better learn how to download the info yourself. Think i'm fucking joking? Even if the "Fiat World", many IDIOTS have given "Accountants, Lawyers, Advisors their personal Bank Info... then lose everything. Sometimes, they don't even fucking care and do it right out in the open. "Anon gave me Power of Attorney" blah blah. Anon ... you choose to "invest" in this HELLHOLE of a scam market.... now your finding out what it's all about. Good Luck! This reality is going to cause lots of ROPE SALES in the near future. 99% of this fucking board CANT even convert their Coins into "Real Money" or assets without going through 10,000 fucked up loops. Fuckin morons think they used VPN or FAKE NAMES ... and then when they try to get the REAL MONEY -> FUCK! Get used to Apple gift certificates you fuckin useless wanna be millionaires. " EOY $1000 -> I'm gonna be richer than the Rothschild, but cant even cash out a lousy $1000 bucks LOL Play silly games... win silly prizes.

>>15004206
This is why I still come here, top kek

you getting audited
coinbase sent them all your info along with addresses

imagine paying taxes on unrealized crypto profits lol

>>15005166
>imagine paying taxes on unrealized crypto profits

imagine not knowing the requirements of the (((system))) and being caught by surprise by the taxman

also see >>15004202

HOLY FUCK. AMERICANS ARE P A T H E T I C! Can't even trade cryptocurrency easily. Here in Canada, it's a simple 20% capital gains tax. Get fucked burgers. W is for Walmart

>>15004125
Is the US the most cucked country in existence?

>>15003877
If you're serious about doing crypto long term, GTFO from burgerland before they suck you dry. No shame in doing what's best for yourself, fuck everyone else.

>>15005290
>Is the US the most cucked country in existence?
Land of the free my friend ;)

>>15005272
>"Americans are pathetic"
>"simple 20% capital gains tax."
leafs man

>>15005272
But capital gains are treated as an income stream in Canada and thus affect your income bracket, get educated

reason i route for privacy coins and decentralization. We need Noia Network to help add a decentralized layer on top of the internet. The government needs to stop spying on us

>>15005319
Shhh... I'm trying to make burgers feel bad. Don't ruin this

>>15003877
>>15003890
>>15003891
GET REKT NIGGER YOURE GOING TO PRISON LOL

https://www.youtube.com/watch?v=h4izBNlpt6s

>>15005290
Are other countries really much better though?

>>15005412
Every country in this cursed shithole of a planet is fueled by absolute greed, corruption, and suffering, so no.

>>15005134
you type like a boomer

got one of these, threw it away, MAKING IT OR DEATH FAGGOTS

>land of the free

>>15004815
Thanks, Ill start contacting CPAs this afternoon.

>>15003877
Get a tax cryprto lawyer dude

If I get one of these I'm going to do what I do every year at tax time, which is mail a dog turd in an envelope to the IRS.

No taxation without representation. No taxes by tyrants who do not abide by the constitution. No taxes for genocidal maniacs trying to wipe whites off the face of north america.

>>15005134
This is true

all us shitcoin traders fucked and can't cash out now

Fucked

>>15003877
>buy pussy coin on some shitcoin exchange
>pussy coin moons 10,000% relative to cock coin
>sell your pussy coin for cock coin
>your USD net worth has now gone up to million dollars relative to cock coin
>the liquidity of cock coin is only 70 USD
>in January cock coin gets delisted due to being a scam
>you owe 500k in taxes
This is the level of reasoning the govt is using.

>>15004331


Use bitcoin.tax anon. It'll import your trades from each exchange using a read-only API.

calculate taxes every year. Then go to a CPA and tell him your situation that you need to amend your tax returns and show him the letter. He might offer you to talk to a lawyer if it is real bad.

Essentially then the cpa will amend your taxes. Assuming you paid only on gains then you will probably just have to pay for a fee to refile taxes plus CPA fee. The IRS just wants proof of what you did in all the trades as a whole and not just "gee i made a mil and I'm paying 15% tax on it"

Also anon. Prior to 2018 you might even get a refund if you did like vs like exchanges since those were legal in crypro. On bitcoin.tax you can do that too to set your cost basis to figure your pnl out and taxes.

>>15004066
I had a tax firm do this for me, it was like hundreds of pages of this form filled with transactions

>>15003877
>bros im scared
HA HA HA HA HA HA HA HA
All those years of arrogance >MUH FREEST NATION IN THE WORLD, you burger cunts are getting what you deserve!
Get fucked up the ass without lube.
Enjoy that police state that has been created for you.

>>15007352
Enjoy getting stabbed to death by muslims

>>15004095
Just wait till they raid your foreign bank account.

>>15005290
>Is the US the most cucked country in existence?
It's tricky. We're the most cucked in some ways, less so in others. We're definitely in the top 5 no matter how you weigh each category of cuckery.

>>15007360
Rather that then getting cucked to the point of bankruptcy hahaha
Pay the taxman cuckie

>>15007360
COPE
>Live in a police state
>With the most evil tax laws in the world
>in the country with the worlds highest prison population
>prisoners get raped & worse
>MUH Enjoy getting stabbed to death by muslims
HA HA HA HA HA HA HA
Can't tell you the last time I saw a mussie, you arrogant cunt.
Stay arrogant, stay dumb, thats what (((they))) want

>>15007439
>Lives under shira law
>tells other people to cope
Interesting

>>15004202
But your REN losses offset your LINK gains you faggot.

>>15003877
>I don't know what to do
just write the truth and pay what they ask you dumbass. its not rocket science

>>15003940
>you guys said i just had to pay taxes when i cashed out

The people who said that are fucking idiots. Every trade between cryptos is a taxable event.

Hire an accountant.

>>15007478
>Lives under shira law
B R A I N W A S H E D
What I find interesting is why you cunts stay so arrogant about the police state that is the United States. The idea you have of the US is what it used to be like...in the '40's if not before. You don't even know what freedom is anymore.

>>15007531
Sure thing muhammad

>>15007541
Is that the best you have...Really!?!?!?!
Fucking Mutts bringin down the IQ of one of the lowest IQ boards on all the four channels

>>15007563
Okay you sure got me muhammad. You can go brag to your flipper babies.

>>15004108
>cuckbase
>Gemini
Good job falling for the Jew's crypto exchange. Winklevoss TWINS as in twin towers since freemasons love duality. And coinbase run by (((them))) and Lex Luthor.

/biz keeps fucking disappointing me with the level of diet wokeness that keeps permeating to the surface. Whew.

>>15007481
no early morning youngfag.. you can only offset a set amnt for short term gains. t.coffee drinking educated boomer.

>>15007304
Same reasoning they use to shoot up churches, schools and public places...The US Gov't is satanic trash.

Kindly write back to the PRIVATE IRS that you'll gladly pay if you can get an itemize list of expenses your tax paying dollars were used for. Those cunts haven't been audited once. Fuck 'em.

>>15007572

>>15007624
Cool picture muhammad. Surprised you can read it.

>>15007644

>>15003877
This is exactly why you should buy high and sell low!

>>15007652
Nice one muhammad.

>>15007660

>>15007664
It makes me laugh how many of your own statements apply to the state you live in muhammad.

>>15007578
>boomer
What's it like falling for NeoCon after NeoCon while you lie to yourself saying you're free?

How many days did POTUS say when referring to the number of days ahead of schedule for building Berlin Wall 2.0?

47

What two numbers do freemason faggots get a hard on for?

33 & 47

Wake the fuck up, old ass dusty bitch.

>>15007667
Stop fucking sliding mossad bitch. You fucking played yourself, Mark, Dennis, Chester, Phil, Dan, Ari, Schlomo or whatever pedo like name you want to insert in your safe space.

>>15007689
Cool story muhammad.

>>15007667
>apply to the state you live in
Where do I live? More American arrogance incoming!
Stop making assumptions!
Stop thinking your free!

>>15007699
Whatever so you muhammad.

>>15007671
Pic related...another ((33)) popping up.

Imagine being so asleep that you're falling for another crusade like false flag perpetrated by two sides of the same Zionist shekel.

How many people were sacrificed at the animation studio on fire in Japan?

33.

You played yourself, /biz.

>>15007720
((33)) year old towel head plant in the news...

Just like Hillary's emails. You really think you're watching justice unfold? Whew. This is all for show. I thought you knew...

QUANTUMBRO, OUT.

Tried telling you, anons. If you know, you know.

>>15007715
>Whatever so you muhammad.
How does that make sense?
Why are you mutts such bootlickers?
Why can't the mass majority of Mutts admit you live in a police state?
Things are only going to get worse if you ignore the issues.
Enjoy your Freedumbs

I never made any gains so (((they))) can't rob my money

AHAHAHAHAH

>>15007759
You're really determined to show us all how assblasted you are muhammad.

>>15007750
One more for good measure. Pic ultra related.

Remember the "Emergency Banking Act of 1933," anons? Of course you don't. You don't learn for your past so you're bound to repeat it.

Just like the "Emergency Act" to build a wall to keep ameribros in...you think this crypto letter is bad? Wait for the fireworks.

>>15007314
What about the exchange on and off ramp? I bought all my bitcoins with cash. In the early days I lost them all on gambling sites. Then a few years later I bought 10 btc for 50k, also using cash (10 transactions for 5k each). How can I prove to the IRS I bought those bitcoins and what my cost basis was? Can I just use the cost basis of btc when the btc hit my exchange account since I transferred them every day as soon as I bought them. Ie use the deposit times of each bitcoin as my cost basis? If you look through my bank statements cash withdrawals it all adds up so surely that will work? This is important because my portfolio is now only worth 10k

>>15007892
Also is there any guarantee they’ll believe I lost the hundreds of other bitcoins I bought in online gambling sites? I don’t even have the PC or wallet I used to make the transactions. This shit is why l

This shit is def from bittrex trading

>>15007768
>You're really determined to show us all how assblasted you are
P R O J E C T I N G
What a great use of your time, instead of fixing the issues for yourself you troll people online with arrogant statements!
The jews really fucked you Mutts up good.

>>15003877
what exchange did you use to trade?

>>15007954
>This shit is def from bittrex trading
This. Thank Kek I've got 2 verified accounts on Bittrex & Binance. Whew! Fuck the FED.

>>15007988
Dubs confirm it's shittrex or cuckbase. And they'll want more once crypto starts mooning. Give to Caesar what is Caesar right? Even if they create a "law" that says you have to give up your first born? You sheep won't detest to slavery...in fact, you'll want more of it.

Welcome to Stockholm syndrome. If you can fold at a simple letter, watch (((them))) send a letter in the mail asking for your guns.

If you give a kike a cookie, they'll ask for some milk laced with baby boy blood...

>>15007972
Sure muhammad sure.

>>15008112
i stoped trading on binance about 6 7 months ago. As soon as link went on cuck base i buy and hold from there. Im concerned binance might have sold it users out to be able to trade in the states

>>15007786
wasnt the 1933 act to save the financial system though...?

>>15008333
>wasnt the 1933 act to save the financial system though...?
You mean how the Federal Reserve finessed American's out of their own gold for pieces of paper that only have value because Big Brother says so. Any nation that says, "Fuck the FED," gets BTFO (Blown tf out) like Gaddafi. Libya, Iran, NK, Syria, and Venezuela don't have centralized banks and that's why (((coincidentally))) NeoCon, freemason manchurian Trump is systematically getting boomers and zoomers to fall for "WMDs" all over again.

The Bavarian Illuminati was born May 1, 1776. On May 1, 1933, the 157-year-anniversary of the order, much of the nation's gold was fleeced for worthless paper, by the force of the federal law.

Federal = 33; Order = 33; Masonry = 33; Secrecy = 33

1+2+5+10+20+50+100= 188

Look up Trump's name in Gematria...you get 88. As in ouroboros like the chan logo. Meaning they want to keep up in this mind fuck FOREVER.

Bavarian Illuminati in Gematria comes out to 188

See pic. A lot of 13's huh?

Thirteen comes out to 45 in gematria (jew dark magic bullshit) as in "Impeach 45"

Both sides know because it's all a show aka LARP.

Nice trips, anon.

>>15007899
If i were you talk to a CPA about that.

I would say this. If u went and gambled with dollars and lost you wouldnt report those transactions becuase there isn't any upside to it. You cant claim gambling losses. To the upside if you win they tax you. That's why most gamblers just dont pay tax since it's 100% unfair, similar to crypto.

So the bitcoin that you bought and moved to exchanges and all the rest should be accounted for and say the cash price you bought them for. Pretty simple and you have transaction times. Remember no one gived out free crypto since 2010/2011 so you had to have been paid for it so it'd understandable. Plus you have the bank statements as well to back up those claims.

Just be careful anon talk w a cpa...you'll pay but it'll be better off if a CPA stamps and signs off on your tax return for something like this at this point.

>>15008495
>Iran, NK, Syria and Venezuela don't have central banks
Imagine someone actually being this dumb to believe that

>>15008660
“We’re Going to Take out 7 Countries in 5 Years: Iraq, Syria, Lebanon, Libya, Somalia, Sudan & Iran..”

Don't ever play yourself. Venezuela says crypto and almost gets rekt. Same bullshit FUD is stateside and /biz can't see the resemblance. Cope.

>>15008727
https://en.wikipedia.org/wiki/Central_Bank_of_Iran
https://en.wikipedia.org/wiki/Central_Bank_of_the_Democratic_People%27s_Republic_of_Korea
https://en.wikipedia.org/wiki/Central_Bank_of_Syria
https://en.wikipedia.org/wiki/Central_Bank_of_Venezuela

imagine being this retarded and schizo you believe something that can be disproven after 5 seconds of google search

>>15004202
holy shit land of the free

>>15008765
What's underneath (((them)))?

You thought NK was an actual country without realizing it was a hub for clowns.

<wiki
Full stop.

>>15008802
get your meds schizo. you are even more nonsensical than the average schizo poster

>>15005290
In every way other than gun rights (and even then we're still worse than Switzerland), yes.

>>15003940
Hire an attorney and cpa, because crypto to crypto is cashing out. It’s a taxable event every time you trade one coin for another.

Why would you listen to people in here saying they'll never pay?

>>15003877
Can't prove you ever got the letter

>>15003940
Flee to Philippines and fuck ladyboys
Some advice: Cryptoniggers don't get to go to White Collar prison.

>>15009200
Depends if it's sent recorded delivery or not.

>>15003940
>i just had to pay taxes when i cashed out
imagine actually being this stupid. having years to research the issue and consult with experts but instead just believing the answer that required the least amount of effort. baka

>>15007386
>bank account
oh sweety... you don't know yet?

>>15003877

>>15003877
>>15003890
Hit up a very good accountant or a tax attorney in your area

>>15003877
did that arrive certified mail OP? did you have to sign to receive?

>>15003877
https://www.zerohedge.com/news/2019-07-26/irs-sends-1000s-fishing-letters-crypto-users

>>15011830
That article's expert still recommends reporting every crypto trade because "better safe than sorry."

>>15003877
If anything I would just troll them and report the Items that I bought and sold in League of Legends and Dota.

>>15003877
>muh freedom
This just made my day, thanks OP!

>>15011830
That's pretty obvious from the language of the letter. You'd have to be an idiot to voluntarily submit your non-fiat transactions.