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/biz/ - Business & Finance

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6773138 No.6773138 [Reply] [Original]

How does day trading affect filing taxes? Do I need to account for every transaction?

>> No.6773161

>>6773138
yes, all of them, and be careful too, if you forget any it's the slammer.

>> No.6773245

>>6773161
This is just so wrong. There's no difference in how much you'd be paying if you compare net profits against the sum of profits and losses on each individual trade. The IRS won't care how you do the math as it ends up being the same either way.

No one will come after you if you end up paying a fair amount

>> No.6773363

>paying taxes
Dude literally just don’t even bother claiming even if it’s a lot of money who gives a fuck they won’t do shit

>> No.6773383

>>6773245
The reason is they have to ensure every cent of your income is legit.

>> No.6773413
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6773413

>>6773245
>Make gorillion dollars selling drugs
>Launder through Monero
>Cash out
>IRS won't ask any questions as long as you pay the 20%
No

>> No.6773438

>>6773138
let me ask all you morons a question, why the fuck are you even using banks when there are so many options to get money in and out anonymously

>> No.6773621
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6773621

>>6773438
Like what? TOR? No thanks, I'd rather my crypto not be laced with crack

>> No.6774589

>>6773245
>anon day trades and doesn't report any of his transactions
>makes a nice 100k over a year
>finally cashes out and "generously" gives the IRS 15%
>gets audited because all his trades were short term so he actually owes 30%, and he committed tax fraud by lying about the amounts he bought and sold on form 8949 so his numbers would match
enjoy your garnished wages and jail time