[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 10 KB, 217x320, 29e.jpg [View same] [iqdb] [saucenao] [google]
10581860 No.10581860 [Reply] [Original]

Initial: 2k (March 2017)
ATH: 450k (Jan 2018)
Current: 65k

taxes owed: 60k

J U S T

>> No.10581875

Initial: 20k
ATH: 250k
Current: 65k

taxes owed: 0k

Patience.

>> No.10581885

>>10581860
Initial $800
ATH $60k
Taxes wtf thank dog I don't live in IRS cuntry wtf they have their own army with automatic rifles lol bite me if I lived there i'd brush my teeth with piss every morning just to remind myself how cucked I am

>> No.10581891

>>10581860
so you're still up 3k? Not bad

>> No.10581915

>>10581891
if I was 100% honest I'd owe 60k in taxes but I only wrote 30k on my extension notice. Seeing as how everyone who invested in crypto has been thoroughly justed, most people down on initial, I think I can get away with spoofing some numbers on my chink exchanges.

>> No.10581930

Why would you pay taxes on crypto you haven't cashed out.
I don't know where you're from, but I only had to pay taxes on my realised gains after cashing out.

>> No.10581988

>>10581860
Initial 3k (June 2016)
ATH : 330k
Current: 20k

Taxes still owed 45k

Is this real life

>> No.10582004
File: 50 KB, 600x435, display_dd12b740013dbb5d460a0785f99f661a.png [View same] [iqdb] [saucenao] [google]
10582004

>1k initial
>22k
>8k (after buying $7k more)

>> No.10582022

Is there such a thing as a crypto wash sale? I was thinking of selling my shitcoins and rebuying them the next day to lower my tax liability. All my shit is short term cap gains already.

>> No.10582033
File: 97 KB, 1024x595, 1511951373203.jpg [View same] [iqdb] [saucenao] [google]
10582033

>>10581915
Oh god, you're so retarded that I hope you go to jail for tax evasion. Why would you even declare taxes on trades you executed on some scam chink exchanges? Imagine being so cucked, holy fuck.

>> No.10582282

>>10582033
So where do you claim the money came from when you cash out half a mill? Withdraw it all in cash from BTC atms? What do you do when the IRS asks where all your shit came from despite reporting no income?

Even if I wanted to play that game, I had no choice. Coinbase was my first entry into crypto and they forward all that shit to the IRS. So the gov already has me on the books for crypto. They see my transfers to chink exchanges and if you underreport you will be audited because they are looking at market performance averages. And when all of this information was due, the market was doing quite well.

Just fuck off. I've spent far more time researching this than you and have engaged in multiple discussions with other smart anons.

>> No.10582382
File: 42 KB, 480x480, 1527461714018.jpg [View same] [iqdb] [saucenao] [google]
10582382

I have NEVER been above what ive invested

>> No.10582413

> Initial
$5k DCAing January-July 2018
> ATH
IDK never been above $5k but I’ve been in the green at some points
> Current
$2.2k
> Taxes
Don’t know but I’m sure I’ll be fucked later

>> No.10582428

>>10582004
fkn kekd. sorry anon

>> No.10583377

>>10582282
>Coinbase was my first entry into crypto and they forward all that shit to the IRS.

if you seriously don't realize that there's an extremely simple way around this you're an absolute retard

but i guess we need tax cattle and good little sheeps like you. Make sure you don't jaywalk either, oh and if you're driving at 3AM and come to a 2-minute red stop light with no traffic in either direction for miles, make sure you wait until it turns green before you go. It's the law you know!