/biz/ - Business & Finance

>>27670810
gains?

yes, plus tip

Yes, because I'm not a nigger.

>>27670810
sauce

>>27670810
i want to put my face in between her boobas if you know what i mean

>>27671003
From the movie clue in the 80's. She died I think in real life.

>>27670810
The real question is, do you have to pay taxes on your crypto losses?

>>27671065
Guess she didn't die. But God sake don't look at her current pic.

>>27671026
I bet it feels like clouds... fluffy even...

Only if you transfer fiat to your bank account. Otherwise they don't give a fuck.

>>27671026
Stop being so cryptic. What are you trying to say?

>>27670810
Yes. They're not that bad and I've got bags of old shitcoin I can sell at a loss to offset my capital gains taxes.

>>27671181
right? if they aren't going to cover for my losses they have no right on my gains...

Yes I pay 40% taxes on my gains

>>27670810
>paying taxes on unrealized gains
do mutts really??

I am a dutiful american citizen and I would never ever even consider going against my civic duty to pay for shaniquas kids and tyrone's jordans and shlomo's middle eastern wars.

But it'd be a pretty funny practical joke if someone just did all their crypto-to-crypto swaps on non-KYC'd exchanges and then converted everything into USDC instead of cashing out and then lending that on a DeFi platform and living off the staking rewards while paying for everything with a crypto-backed credit card. Just as a practical joke though.

Yes I pay every penny so it can be used on niggers/spics/single moms, gender studies in Pakistan, and fighting 20 year wars for Israel :^)

>>27670810
BOOBA

>>27671003
>>27671065
>>27671242
still would ram rod this thick boomer mama

>>27670810
Yes it's the law and we always follow the law.

>>27670957
this

>>27670810
We have a legitimate government again yet?

>>27670810
No, In the country I currently reside there are no taxes on crypto and I “cash out” by going to the gold shop and paying them crypto for gold which I can then trade for cash if I need

>>27671384
americans

>>27670810
if i only ever trade between USDT or USDC and other crypto then do I have to pay taxes?

>>27671325
>>27671347
unironically this is how you make it

>>27671384
Isn't that the newly appointed head of whatever

>>27670810

i jacked off to her so many times growing up

>>27671372
I bet ole biden would squeeze your tits even if you aren't female and are over 12!

>>27670810
I hate America and hope it dies. The Jewish control system we have in place is destroying every single aspect of life on the planet. But yes I still pay my taxes. I'm not going to fuck with the Rabbi in charge.

If you think the IRS isn't paying attention, you're in for a world of pain.

>>27671732
Secretary of health? no that’s his sister

>>27671732
nah its not the tranny

>>27670810
>reporting crypto on taxes
lmfao

hiding from your government
can't escape
international data sharing agreements
gigabytes worth of data analyzed in seconds
millions of people's records
don't pay taxes and
you'll be sorry

>>27672845
what is this, a fuckin haiku?

>>27670810
only if you did not hold them long enough

>>27672941
trust the plan
sealed indictments
IYKYK
Q

>>27670810
hhhhhhhhnnnnnnnnnnnnnnnnnnngggggggggg

>>27671001
>I'm a nigger

>>27671277
Even using coinbase?

I mean I declare my capital losses. I'll get to use the last of my roll-over losses from 2017-2018 investing fuckups this year!

>The first question on Form 1040 is about cryptocurrency. It reads: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” Taxpayers only need to answer “yes” or “no” to this question.

they're coming for you.

>>27673287
What a bullshit fucking question. Why would I have to report purchases with no realized gains/losses?

>>27670810
Just send it in $9000 increments to family to wire over to your bank account. Gifts cant be taxed

>>27671384
i hate women

>>27673287
>the government will tax your Robux

>>27671347
Won't that crypto card have kyc? Surely they aren't giving a card to you without a ssn

I'm thinking of only reporting my cap gains when cashing out but not the technicality cap gains like converting one coin to another. Think the IRS will fuck me for that?

>>27671181
>>27671328
>They don't know about capital loss writeoffs

To answer OP yes of course, I pay all the required capital gains in Monaco

>>27670810
>paying taxes
I will maybe 1 time ever. Also I love that fat titty broad from Clue. her and the hostess from Terror Vision were peak 80s titty.

>>27670810
real shit but how does taxing crypto even fucking work?
Like just don't say you made any money with it what the fuck are they gonna do, search through the ledger and claim you have a billion in BTC in a wallet somewhere?

If you didn't receive a 1099 from your exchange or broker, the IRS doesn't know about it

>>27673476

>>27673287
They are taxing WOW gold now?

>>27670810
>crypto gains
kek

This guy’s ID is literally ‘C .U. CK’ please come ridicule him: >>27671702

He needs many (YOU)’s. This is literally history guys. Biz has found the ultimate KEKold of the board. Come drop a (you) to mark yourself in the archive history books.... let’s get this to a record number of you’s don’t give the cu ck a break! Let’s break record you’s

>>27671347
even funnier if you just loan out your btc for USD

>>27673287
so answer ''no"

>>27673797
Once you convert back to fiat you'll have to declare it on your taxes. You can't just dump thousands of dollars in your bank account, it raises red flags.

>>27671001
Maybe not, but you are funding all of their activities

>>27674031
this is why you just convert it to usdc if there going to be a massive dip like eoy 2017

>>27674031
HOLD up are you saying that the government has access to what happens in my bank account? I thought that shit was PRIVATE because it's held by a private company?
All kidding aside I assume this is how tax evaders game the system by keeping their shit in offshore accounts, no? or a trust?

>>27673668
Let's say you pay off your crypto card with USDC. That's a 1:1 stablecoin so there's no gains/losses when "selling" it. You already converted your crypto to USDC on a non-KYC exchange somewhere else. See what I mean?
Again, I would never do this, it's just a practical joke.

>>27673513
Especially funny considering they don't bother elaborating on or defining what "virtual currency" even means.
is USD a virtual currency when I just pay for things digitally online? What rewards card points from grocery stores and pharmacies? Are the bottle caps my character collects in New Vegas a virtual currency here? What about WoW gold?

And couldn't I argue that crypto isn't even a "virtual currency" when the IRS explicitly states that crypto is NOT a currency and instead counts as "property"?

>>27674226
In the US any financial transaction of $5,000 or more is investigated by the FBI. If you just went out and put $5,000 of mattress cash into the bank it would be investigated.

>>27674226
High end magic cards

>>27670810
When cashing out on an exchange I KYC'd with: Yes.
When buying shit directly with coinjoined bitcoin, monero or lightning: No.

>>27674404
well what about multiple financial transactions of $4999

>>27671384
Holy fuck please tell me that's not the op lady. Why is life so cruel? Holy fuck what?

>>27674025
>coinbase or whoever reports that you have made a transaction to the irs
>"no" on 1040
>????
>perjury

>>27674404
Yes, every 5K transaction gets investigated. Ha, my male titties are milking.

>>27674517
yes, colleen camp is her name

>>27674404
I thought it was 10k leads to an automatic IRS notification

>>27674226
Yes, this is one of the primary reasons for crypto existing in the first place. An immutable blockchain with no central authority getting to shut things down and manually change things unilaterally. No government that can remotely freeze your accounts and assets if you're a bad goy

>>27674488
That might be a little on the nose, but generally thats a bit part of how you successfully launder money and move cash around. Numerous smaller withdraws or deposits skirt oversight.

>>27674569
>I thought it was 10k leads to an automatic IRS notification
10k is the law, but some banks do 5k to cover their ass

>>27674532
honest question, what happens if you just leave this question blank
Or if they try to charge you with perjury, couldn't you just feign ignorance ("what the fuck is a virtual currency? Oh, bitcoin? Why didn't you say so!")

I lost my ledger with all of my Monero on it.

>>27671384
NOOOOOOOOOOOOOOOOoo

>>27674466
>>27674258
So what if you buy crypto from a KYC exchange like Coinbase, then move it into a wallet like Ledger, and then later sell it on a non-KYC exchange? Wouldn’t the IRS be able to look at your bank account and see cash coming from this other exchange? Would you just report those deposits as income to be safe?

>>27671001
>not a nigger
yeah, youre a cuck

>>27675051
You'd probably get away with it because your non-KYC exchange doesn't really know who you are and therefore can't snitch on you to the IRS. However getting large deposits that can't be accounted for can get you on the radar of the IRS so I would just be a good goy and pay the tax.

>>27670810
Yes as extra earnings once I cash out

>>27670957
Fpbp

>>27675051
You can't sell to fiat on a non-KYC exchange. And even if you could, connecting your bank account to do a fiat deposit would act as a defacto KYC anyway.
So yes, there really is no way of withdrawing sizeable sums of crypto to fiat without paying taxes. There's just no getting around that. That's why the goal is to avoid fiat withdraws and find ways around that. Such as paying for things with crypto, taking out crypto-backed loans instead, and so on.

Even then, there are certain situations where even those "tricks" won't ever work. For example, buying a car or a house. Just like how realtors/dealerships automatically report you to the IRS if you buy a car/house in cash, the same would hold true for crypto (as if they'd even accept it anyway). And if you buy a house, that's public information to the gov't, and they'd definitely audit your ass if they see that the unemployed NEET with a couple nickles in his bank account just bought a 500k house. So for big things like this, best course really is to just withdraw fiat and pay your taxes on that portion.

>>27670810
I ran my shit through koinly and even though I made like 100k last year in unrealized gains all my uniswap trades counted as a loss (because of gas I guess?) so apparently I don't really owe anything. Seems wrong but I'm just gonna submit their form.

>>27674258
the file name lmfao

>>27675319
Reporting the income and paying the tax isn’t really a big deal. But if you are trading frequently keeping track of gains and losses for tax purposes is a giant fucking PITA. I would really rather just report income when I cash out, but I don’t want to get brutally butt-raped by Uncle Sam.

>>27675514
Yeah I haven't kept records on my trading stack so I don't even know myself. I use my trading stack to buy shit directly like giftcards (most of my expenses), electronics and hosting fees. If I ever need to cash it out I'll just coinjoin it and/or wash it through monero and just claim it as a long term capital gain.

>>27675457
>withdraw fiat and pay your taxes on that portion.
And how are you going to explain the sudden influx in playbux without looking like a criminal

>>27675457
I’m still a newb getting started, and currently only use Coinbase, but I’m trying to learn and up my game. I have no desire to dodge taxes, but I also have no desire to try to calculate all of my gains s losses every single time I convert one crypto to another or convert to/from stablecoins. I’m basically trying to follow the law and simplify my filing.

Yes, because I'm not american and the taxes here are quite reasonable.

>get gains
>put gains into usdc
>hold for one year
>cash out, long-term capital gains tax
>0 or 10% tax depending on how much I cash out in a year

America may be a shithole but at least I can avoid capital gains taxes legally

>>27675835
I'm not understanding your question. Right now, if I wanted to. I could convert approximately 250k worth of crypto to fiat and start withdrawing to my bank account. My cost basis for this is like 25k. It would be perfectly legal for me to withdraw that. I'd just need to make sure to pay taxes on the gains. There's nothing to "explain". I bought shitcoins when they were cheap and then they mooned.

>>27675876
The laws are retarded, which is the main issue. If you want to keep it above board, you have to report every single swap. Even though this is a pain in the ass and the end result shouldn't be any different than just reporting the sum total of fiat in and fiat out and paying tax on the difference.
If you do your crypto-to-crypto swapping somewhere without KYC (such as a dex like uniswap, or VPN to binance, whatever) technically you're still supposed to report that. It's just that the likelihood of them coming after you for that is practically zero. Take that as you will.

>>27675802
>wash it through monero
I've seen this mentioned, would you mind explaining the process?

>>27674258
> filename
Old fag detected

>>27675989
>>0 or 10% tax depending on how much I cash out in a year
where do you come up with this 10% number?

>>27676169
Monero doesn't have an open ledger so your transactions can't be tracked like Bitcoin, ETH, or other Defi shit.

>>27673507
We know pajeet.

>>27670957
/thread

>>27676156
what if I no longer have access to the trade records b/c they're on a platform I can't use anymore?

>>27670810
thats a man

>>27670810
even though my folio is well over 6 figures my staking and rewards aren't high enough to tax and all of my bear market swaps pre havling were at losses, so I might actually get like a 1k write off lmao.

Kind of a perk of hodling if you have diamond hands

should be alot of amusing news reports over the next few years of cryptoneets being hauled off to federal prison

>>27675457
aka do usd coin staking if you get a fuck ton of crypto money

>>27670810
also BOOBA

https://www.youtube.com/watch?v=3LEMOy68DmA

>>27676286
Yep basically. They banned exchanges from trading it in Australia because they can't track it for tax evasion. I think it was interpol in a report that said Monero and Wasabi (a coin join wallet) was enough to stop chain analysis

>>27676156
>DEX
>Uniswap
This is how much of a newb I am. I had no idea what a DEX was and I had heard of Uniswap but knew nothing about it. Thank you.

>>27676156
What about smaller transactions like buying food and paying rent and such? There a way to do that without withdrawing a ton and that being taxed?

>>27670810
MOMMY

>>27676347
Well, the IRS is an extortion racket, and they operate on a "guilty until proven innocent" basis. So if you don't have records because it's an exchange that no longer exists or whatever, such as mtgox, then you probably have to count it as zero cost basis and just get fucked by the IRS.

In such a situation, what I would do is just try to be as truthful about it as possible, giving an approximate date and cost basis to the best of your ability. Just know that *if* they decide to audit you, and you can't come up with sufficient proof to their liking, you may have to go with zero cost basis.

If i hodl for a year I don't have to pay taxes at all. I'm still trying to call the financial ministery to tell me if i have to pay taxes for staking but nobody wanted to give me a clear answer (Goymany)

>>27670957
Lol this

Taxes are voluntary
https://lbry.tv/@alittlebitofeverything:2/aaron-russo's-documentary,--freedom-to-facism-:a

>>27674532
>"Your Honor, Chainlink is a utility token, not a virtual currency"

>>27670810
why would i? crypto isnt real.

>>27674258
100% be caught unless youre making a shit load of money youre already paying taxes on.

its unironically easier to just pay the shit then worry about all of it i just dont like the idea the money goes to everything i hate and i would run the government better than anyone in history

Can I deduct stock market losses from crypto gains?

>>27676547
You are allowed to legally receive amounts of up to $14,000 in gifts from others. Generally, if you are in contact with parents, you can say they gave you the money to help out.

>>27673769
can you just open up a monacoan bank account over the internet?

>>27671384
if she lost weight id still tap it

>>27674846
Ignorance is never ever a defense

>>27676519
DEX = decentralized exchange. Uniswap is an example of one. There's no central authority to it, no identity validation, no reporting to the IRS by the decentralized exchange, etc.

>>27676547
Again, technically you're supposed to pay capital gains when you convert crypto to anything else, even if you're "trading" it directly for goods/services. It's just that for small day-to-day things like consumer purchases, there's very little likelihood of them going after you for this. Akin to how the IRS isn't going to go after little timmy for not reporting the income from mowing his neighbors lawns for a couple bucks

Need to investigate WOW (world of warcraft) currency. Tons of people making pure money there also onlyfans degenerates

>>27676656
In theory yes, in practice no.

>>27674258
just because you don't know the answers to your retard questions doesn't mean the IRS will not fuck you

>>27675457
JM Bullion accepts crypto for metal purchases. They do KYC over a set amount but you get the idea for a practical joke.

>>27670810
https://youtu.be/fJ4NncLChrY

gotcha, for reference it's bittrex I just live in a state where I can't access it anymore

>>27676794
imagine all the loose skin. that shit doesn't just tighten back up

>>27671384
fuggg, I would have bet you money that was a tranny. how is that even possible?

>>27673138
Would like to know too

>>27676876
Go to sleep IRS

>>27676893
forgot to tag
>>27676583

>>27676953
find a fold and fuck it

>>27674488
That's called Structuring, also a crime

>>27676298
look at what she did to herself desu

>>27674569
>No government that can remotely freeze your accounts and assets if you're a bad goy
you had my interest. now you have my attention.
I've known about BTC since it's been shilled on 4chan from the very early days. Never really looked into it or used it besides some of the uh... regular usecases via TOR.

So I'm curious - BTC is not anonymous at all. If you're registered on an exchange using your credentials and that's how you've gotten your coins, can't they prosecute you for tax evasion once they put the pieces together? I assume any US based exchange is essentially a FED honeypot because of jurisdiction/subpoena power.
Tell me there's a way into crypto that keeps the glowlies out

not that I would ever do this (nor should you) but it sure would be funny if some joker bought crypto with fiat only to transfer to a non-kyc exchange, stored any gains in stablecoin and washed any gains in monero hahaha

So just to be clear to be taxed the least amount possible, you need to move your crypto to USDC, hold it for a year, and then sell it so you’ll be taxed as long term capital gains?

can i not found a company on cayman's (or any convenient tax haven) and use my swiss bank account to buy shit?
what's the catch? the rich seem to do that with impunity

>>27676701
I would never do anything of the sort. This is all a joke to me.
That said, even with the crypto card idea, that'd just be for small purchases. You know, the typical cost-of-living shit you pay for with your normal credit card. Groceries, phone bill, whatever. Small purchases. Main point of doing that is just to keep your wealth in crypto and minimize the amount of fiat in the first place

I've got no problem paying taxes for large crypto gains. I just think the idea of keeping track of every little shitcoin flip or direct crypto purchase for steam games or whatever is ridiculous.

>>27675457
GAY

1. Buy a (good) fake passport/ID in a third-world tax haven (or live there for a year)
2. open a bank account there and withdraw
3. splatter shit on a canvas
4. sell your modern art to a rich Thai collector for $50m
5. Write off the purchase
in minecraft

>>27677309
I would assume any stablecoin. The point is the value doesn’t change with time. USDC, DAI, etc.

I’m still trying to develop a trading / investment strategy. I need to learn a fuckton about all of the stuff built on top of Etherium. The world DeFi, yield farming, liquidity mining, etc. makes my head spin. The ideas aren’t complicated, but the topic gets really broad really fast and the jargon can get overwhelming if you don’t already know everything about it.

>>27677210
BTC is pseudonymous. Think of it like having a username on a forum. Someone reading the forum can see your posts and link them to your username. But that doesn't necessarily mean they can connect that username to your IRL identity. But they *might* be able to piece that together based on whether you end up revealing enough information to dox yourself.

you do get KYC'd when you're on a centralized exchange like cuckbase, but that doesn't necessarily mean the private wallet you send your funds to is now "doxed". At best they may suspect that you own a wallet. But they don't know that for sure. If you're really concerned, there's monero.

>>27677551
dangerously based

>>27671026
This is her now.

If you live in a country where the tax collectors are a joke and are understaffed and bogged down in backlog due to corona, then you can just Monero that shit and vanish into the sun set or a tax haven where extradition isn't possible. Also obviously torify everything on top of your dns and vpn with a normal bandwidth exit node in one of the more safer countries or create your own.

Honestly unless you CEX gives a tax form and you don't deposit anything in the bank then who cares. What do you niggers think DEFI is for to tickle your little pickle in front of the class?

And who knows what's going to happen come next year or few (the tax authority isn't going to descend upon the very day after the deadline).

>>27671001
You'd have to be a dumb nigger to say "YES LOL THESE ARE MY WALLETS AND MY TRADING HABITS I DABBLE ON THE DEFI SO NOW YOU KNOW"

>>27675989
putting your gains into usdc is a taxable transaction

>>27677309
>you need to move your crypto to USDC
strictly speaking, converting your crypto to USDC is a taxable event. You'd need to hold the normal crypto for a year, and THEN convert to USDC, to apply for long term gains. Again, strictly speaking.
Holding USDC for a year has no purpose as far as taxes go. There's no capital gains on because it's a stablecoin.

>>27677692
how does it get this way

This guy’s ID is literally ‘C .U. CK’ please come ridicule him: >>27671702 #

He needs many (YOU)’s. This is literally history guys. Biz has found the ultimate KEKold of the board. Come drop a (you) to mark yourself in the archive history books.... let’s get this to a record number of you’s don’t give the cu ck a break... Keep you’s coming

>>27677755
>What do you niggers think DEFI is for to tickle your little pickle in front of the class?
Well, that and the huge APY you get from cutting out the jew banker middlemen.
0.00000002% APY in a savings account compared to like 20% APY for things in DeFi, topkek.

>>27677826
By then it won't matter because war and economic collapse will commence and Western countries are going to be fractured.

>>27676990
Did you cash out? If not, you didn’t actually make any money. You made hypothetical gains. Imagine if you made $100k in profit on your BTC investment. But something happens tomorrow, and BTC plummets to $1000. If you didn’t cash out, you never actually made that $90k you lost between those two days

>>27678005
Then you wouldn't want to be in a stablecoin pegged to the US dollar anyway.
FYI there are other types of stablecoins out there. Not only pegs for other fiat currencies like euros or swiss francs, etc. But also stablecoins pegged to gold. If you genuinely think that total war/economic collapse is on the horizon, that's probably what you want to look into. I have no opinion on the odds of that happening soon though.

>>27677755
So basically, in order to be above board with the least amount of paperwork… CEX to put fiat in, move to wallet, DEX for conversion and trading, then move from wallet to CEX to get fiat out, report income or capital gains.

>>27677644
checked and confirmed. I've been mining Monero on the side just because I like the anonymity of it all. The returns are so bad that I don't think it's gonna be worth it though.
But theoretically if I transferred BTC to Monero I'd be untraceable?

>>27677991
>20%
More like 200-300% and at time I've even seen +1000% but yeah blows that tenth of a tenth percent savings rate out of the solar system.

>>27677826
Well that sucks. I just got into crypto and most likely this bull run is going to be over before the end of the year so I’ll have to cash out before I had my coins for a year. Oh well

>>27677991
Teach me your ways, I am trying to stop being retarded.

>>27678165
A coin pegged to AAVE. I call it AAVE.

>>27675989
No retard... you pay the taxes on profits, you'd hold it for a year to pay 0 taxes when you'd have to pay taxes on the profits you earned to make that USDC

>>27678233
I don't see why not. They'd only know that you bought monero with the bitcoin at that point.

>>27671732

>>27678233
Yes. Even if you don't long-term hodl XMR, you can use it for wash-trading to break the public chain of custody.

>>27678284
redpill me on that ultra-high-yield defi degen shit. I've always steered clear of it because it seems completely too good to be true, like a Madoff ponzi scheme.

>>27671277
And if you haven't transfered to fiat, how do you make use of your gains.

>>27678231
Do not move back to CEX. Start using DEX full-time. Do not report. Pass and collect $200

If using CEX then use Binance.

>>27678579
>he doesn't live as a destitute poorfag NEET while viewing his delta portfolio numbers and jerk off to green lines going up
ngmi

>>27678607
But then how do I get fiat out?

>>27678546
You take in liquidity pools for yield farming and you get paid the dollar amount in terms of coins. They're heading more toward a direction that reward loyal trustworthy stakers and there are decay rate times set by the governance so don't count on any arbitrage funny business just hoppin in and out of the pool like a penis monkey.

https://www.youtube.com/watch?v=G23ywwZQ3Ok

>>27678546
I wonder, does trading a coin like bitcoin to another coin with a public ledger on a non-kyc'd account break the chain of custody as well?

>>27678687
In a uncucked country with secret banking laws not beholden to globo homo or binance in a tax haven that you're a resident of.

>>27678687
Also
>fiat

Why not just convert to BTC and then buy Silver or Gold with it from places like SD bullion? I am more than certain a guy will sell you vast amounts of land for 10BTC worth of gold.

>>27671384

>>27678546
Like with 1nch the funds aren't inflationary. They come from an existing community pool as the existing supply is locked and will only be unlocked in increments next being June and December. Operational costs of this stuff is covered by things like positive slippage funding the DEX

>>27671384
......................

>>27678607
How likely are Binance to get subpoena'd by, say, HMRC in the same way that Coinbase was? (Substitute HMRC for any generic non-IRS tax service, the IRS are in a league of their own when it comes to being anal) And if you never verified on Binance, can they really give away any of your info? Thanks anon

>>27670810
Yes. I actually pay 15% extra.

>>27671625
"yes"

>>27671625
Yes, capital gains tax

>>27679633
Binance is situated in China and will have a crypto payment service like paypal.

>>27670810
Of course not, that's lame and gay af.

Never reported my uniswap trades or my trades on binance. I haven't done the KYC to withdraw on binance either.
I withdraw everything on an Aus exchange I have done KYC for and only pay taxes for sells done on there.

I suppose I'm supposed report my Aave loans some how aswell as its technically a token swap but fuck that too.

>>27680237
This is what I do as well but i'm fucking terrified of the day i have problems withdrawing off of binance.

>>27674404
I guess I get investigated every 2 weeks when my paycheck hits. You don’t know what you’re talking about dude.

>>27674846
They're trying to trap you into a crime. Lying on your tax return is a crime. Negligence is just a penalty.

>>27676789
why would you do that?

You can cash out 900 dollars a day with a burner phone on coin flip ATM’s , nothing feds can do about it yet.

It should be noted that your bank may file a suspicious activity report, generally 5k, but as low as 2k with crypto exchanges.

>>27670810
I don't owe taxes until I cash out, and if they change the law I'll just move.

>>27680878
Look it up, sherlock.

you can tell all the retards here who act like they dont pay taxes have never made a significant purchase in their life
try explaining to your bank where your gains come from or a lender where you got your capital and income when you try to get a mortgage

>>27683992
Can tell you don't know how to read a thread

>>27683992
Don't live in a shithole like the USA or Western Europe.

yes
idk why im so fucking afraid of the IRS

>>27670810
Fund niggers and jews? hell no.

>>27670957
Fpbp. Have a (you).

Does anyone recommend any free or cheap crypto tax software that they use?

>>27685004
Coinstats is the standard even have an export button for it on Newton. When you're making the amount you do in crypto and paying tx fees not sure why tax software is such a big expense

>>27670810
I don't have any gains but if I made a lot of money I'd set up dozens of Vtube accounts and funnel my gains through donations and superchats.

>>27670810
OP is glowing

>>27672193
>his

>>27674404

Deposits of $10k or higher automatically trigger a report to the IRS, not the FBI. It goes back to the 80s cocaine war RICO Act.

>>27677692
shes like 70 what were u expecting

>>27670810
What gains?

>>27670957
fucking jews

>>27674846
>>27676801
Say yes but you're referring to Robux.

>>27670957
This. Laughed in pain

>>27670957
fucking THIS !!!!!!!!!!!!!!!!!!

>>27671384
why, she was stunning

>>27670963

>>27671001
No just a fucking retard. We talk all the time here about never paying taxes. How did you miss every single thread?

>>27671347
Based/10

>>27671384
She did not hit the wall, she ate it

>>27680991
the question is non-binding. they don't have any legal grounds for demanding you answer it honestly. if there was an acquisition or sales tax on crypto and they asked how much you purchased, that would be a different matter. Still, it is no different than the "did you make any out of state purchase?" question.

The reason that question is on there is to give people awareness while doing their taxes that crypto is not somehow exempt from taxes. People are extremely stupid and IRS is frankly doing a service here.

>>27688922

>>27670810
no

>>27670810
i rather go to jail and kill my self before i get raped.
aint gonna feed niggers with my hard earned money.
fuck the government.

>>27680991
indeed you are better off not filing a tax form at all. 80% of the people that went to jail for taxes filed a 1040

aAHhaHAhahHAhhaH no..never :3