This hits a little too close to home

[Anonymous No.11309577]

Who else still hasn't paid their taxes on 2017 crypto gains?

[Anonymous No.11309585]

>>11309577
Link to story:
https://www.eonline.com/news/974088/mike-the-situation-sorrentino-sentenced-to-8-months-in-prison
He got busted for tax evasion

[Anonymous No.11309592]

And nothing of value was lost

[Anonymous No.11309608]

Me! Had to pay enough to pay taxes for like 16 hours kek. But they'll want their $13k no matter what.. Fuck those guys

[Anonymous No.11309717]

i already paid mine. I think I ended up paying like 12k total

[Anonymous No.11309735]

>>11309717
I cashed out a large sum in January of this year but didn't declare it on my taxes. I'll do it in 2019 though. Mine will probably be around $25k.

[Anonymous No.11309778]

>>11309577
Jokes on you, I have no gains for you to tax. I win again!

[Anonymous No.11309788]

>>11309735
are you doing them yourself? i called like 6 accountants and all of them kinda laughed at me. Had to use a referral from someone

[Anonymous No.11309826]

Do any burgers here plan to report their crypto-to-crypto trades next year? The whole thing is kinda bullshit... I have yet to cash out, but when I do I don't want the IRS breathing down my neck asking me where it all came from.

[Anonymous No.11309841]

>>11309577
I only ever sold for a loss

[Anonymous No.11309842]

>>11309826
when NEETs start getting killed in armed military police raids for not paying crypto to crypto taxes I'll take note

[Anonymous No.11309870]

>>11309788
>hello? you want to file taxes on your crypto gains? you actually fell for that meme?

[Anonymous No.11309896]

>>11309735
>I'll do it in 2019

You'll do it behind bars

[Anonymous No.11310006]

>>11309870
it went more like
>uhhh we sorry we don't have anyone who can help you

[Anonymous No.11310021]

>>11309826
I did last year using bitcoin.tax it was pretty easy. If you don't have big gains you can prob get away with not reporting those but if you cash out a large sum they will most likely come asking where it came from.

[Anonymous No.11310096]

>>11309788
I think I can do them myself. Records of all my trades are on the exchanges so it shouldn't be too hard for me to pull everything together.

[Anonymous No.11310145]

>>11310021
What happens after you officially declare it? Do you have to report your gains for each following year? (I would assume so)

[Anonymous No.11310303]

>>11309577

Amazing who gets busted for tax evasion and who doesn't

https://www.youtube.com/watch?v=QCUxOkSt8SY

[Anonymous No.11310334]

Do you guys just figure how many dollars in vs dollars out or do things get funky as hell with alts?

[Anonymous No.11310345]

>>11310334
I think before 2018 you could get away with just reporting net capital gains but after 2018 every trade is taxable hence why i filed early

[Anonymous No.11310396]

>tfw I get constant calls and visits from the IRS
I just want them to go away

[Anonymous No.11310413]

Based IRS for making these threads and reminding us to self-report our crypto gains. Thanks for the help, agents!

[Anonymous No.11310427]

>>11310345
>after 2018 every trade is taxable hence why i filed early
Fuggin Trump

[Anonymous No.11310428]

>>11309896
>You'll do it behind bars

Nobody is going to jail unless its insane gains. The entire situation is bullshit. Nobody even knows how to do it and in many peoples situation its impossible to even properly report.

[Anonymous No.11310441]

>>11309842
Crypto is considered a commodity now so crypto to crypto trades are not relevant anymore. This shit cannot possibly get more confusing.

[Anonymous No.11310450]

>>11310396
It's almost like you should have bought Bitcoin anonymously like everyone used to do through direct bank deposits from a branch. Funny how the lesson was there the whole time and people just ignored it. If you want to "wash" 100k and then buy 70k mining rig and 30k cash even today you still get your money back pretty quick. People are dumb as all tuck I spose

[Anonymous No.11310480]

Oh shit someone from new Jersey is going to jail for tax fraud color me surprised

[Anonymous No.11310483]

>>11310450
How are we going to rationalize the fact that 90% of people are simply never going to pay crypto taxes and they will get away with it. That's a huge problem with the entire fucking situation. IRS you are obligated to step up your game. Making some shitty threads on 4chan is not going to be enough. Literally nobody is ever going to pay. And think about people who are older in age too. Someone with only about 30 years of life left in them can easily hide their gains for the rest of their lives. One significant economic collapse and people will be out of work and crypto will be easier for them to earn than fiat. So if you fuckers don't get your shit together you will simply not be collecting taxes anymore from anyone ever again.

[Anonymous No.11310530]

>>11310483
bro, any time that shit touches your bank acccount, they know about it. IF you ever want to exchange crypto to fiat using the banking system, talk to a fucking accountant. IF you buy bullion and sell that for cash, you should be good. But don't repeat stupid shit like this. Coinbase reports your withdrawals to the IRS-- that's the whole point of KYC. They can't link any wallet to you without a warrant, but the minute it gets converted to usable money they're on your ass.

[Anonymous No.11310569]

>>11310530
>bro, any time that shit touches your bank acccount, they know about it. IF you ever want to exchange crypto to fiat using the banking system, talk to a fucking accountant. IF you buy bullion and sell that for cash, you should be good. But don't repeat stupid shit like this. Coinbase reports your withdrawals to the IRS-- that's the whole point of KYC. They can't link any wallet to you without a warrant, but the minute it gets converted to usable money they're on your ass.

I'm not talking about me MOTHER FUCKER. I'm talking about the situation. Nobody is paying taxes and honest people are being punished while fuckers like you shill on 4chan. My fucking tax dollars are going to shit like this are you worthless fucks are lollygagging around doing nothing about it. GET TO FUCKING WORK!!! Stop posting shit on 4chan and actually begin solving the problem in a way that is easy to understand. All I am seeing right now is everyone getting away with never having to deal with taxes ever again while I am getting raked over the coals for piddly fucking gains. It fucking angers me you worthless piles of shit.

[Anonymous No.11310617]

>>11310569
calm down, pal, I'm with you. Just trying to give good advice. My stepdad did 5 years in the federal penitentary system for tax evasion, so I was redpilled on the IRS from an early age-- like watching money masters on VHS level redpilled. I don't work simply to avoid paying into the federal system of enslavement.

However, I caution people not to take bad advice. If you use coinbase, they know about the money and you won't get away with it. Some dumbfuck could take your post at face value and think "hell no one else is doing it, fuck it" and then they get their shit pushed in.

The main reason I'm in crypto is because it's the most realistic shot we'll ever have at destroying the IRS, so I say godspeed to you.

[Anonymous No.11310687]

>>11310617
>Just trying to give good advice.

Your advice fucking sucks. Literally everyone but like 15 people are tax free for the rest of their lives. You are punishing honest people you assholes. You cant threaten somebody with jail time in a crypto situation because they can destroy the money. This is not a situation the IRS can control and its going to work out well. the IRS and honest people are 100% cucked right now and NOTHING CAN FUCKING SOLVE IT!!!

> Some dumbfuck could take your post at face value and think "hell no one else is doing it, fuck it" and then they get their shit pushed in.

Nobody fucking is motherfucker. NOBODY. You can just look at the biggest wallets in any coin and easily determine that money movement absolutely never correlated with taxes at fucking all. You have a percentage of fucking less than 10% of people still from 2017 after the bull run and I have not seen SHIT about actual fucking results. FUCK YOU!!!! I want to see results you FUCKERS. I dont even have that much money!!!! I am not doing well at all and I got hit hard as fuck!!!!

> The main reason I'm in crypto is because it's the most realistic shot we'll ever have at destroying the IRS, so I say godspeed to you.

In all seriousness if I don't start seeing some news about the IRS getting a huge growth spike and record numbers of people paying crypto taxes by next year then its going to be time to start taking to the streets in protesting this shit. The FUCKING IRS is completely worthless right now. And if I see another massive bankster bailout then I am noping completely out of fiat even if it kills me. It probably will. And my crypto dies with me.

[Anonymous No.11310713]

>>11310096
I have some trades on random chink exchanges that I forgot the password too. Fuck

[Anonymous No.11310728]

>>11310713
Same
I've just bought and hodled this year though. Just use the amounts coming in and out of your wallet.

[Anonymous No.11310752]

>>11309577
shum (should have used monero)

[Anonymous No.11310781]

>>11310687

The trick is to just accumulate. When I see an alt at a price I want to buy in, I buy some ETH on coinbase, send it to binance and buy the alt. It takes about a half hour, then I just don't trade it from there.

[Anonymous No.11310793]

>>11310687
Go talk a walk, eat a sandwich and/or masturbate, you are way too stressed right now.

[Anonymous No.11310816]

>>11309788
>>11309826
>>11310096

It’s easy man, just upload your transaction history to bitcointax and it’ll do it all. I just sent the forms bitcoin tax spat out to H&R Block along with my other stuff, paid like 50 bucks and they did all my taxes and filed everything. Super fucking easy and peace of mind. Also, report your crypto-crypto trades, they are taxable events. Report all your losses too bc I think the losses can carry over to next year or just reduce your taxes overall.

[Anonymous No.11310832]

>>11310569

Dude, calm down. Believe me, the long dick of the IRS will fuck them one day. Tax shit doesn’t have the presumption of innocence- they hold people accountable unless they can PROVE they’re innocent. Also someone, somewhere is building an AI tax bot that will retroactively identify unreported gains. Just pay Uncle Sam and sleep peacefully.

[Anonymous No.11310839]

>>11310793
Fuck you
This entire thread is a stress thread. Its the IRS stressing the fuck out. The shills are panicked. Honest people are getting butt fucked and its not fucking fair. Not like regular unfair, I am talking it will be time to start protesting unfair. There is going to be a breaking point on this. So unless you want to start seeing anarchists picketing outside IRS offices its time to get shit together on this. There is a lot of reasons for this kind of stuff to begin gaining traction. And butt fucking honest people while bailing out banksters is a good one. If we see neets getting gunned down in their homes over this then you can bet your ass this going to cause backlash. And putting someone in jail over some confusing ass shit like this is also complete bullshit too. Honest people are literally the biggest targets right now and its fucked up.

[Anonymous No.11310852]

>>11310832
AI doesn't work that way. Its pattern recognition and prediction not a fucking calculator.

[Anonymous No.11310946]

if u guys think taxes suck try being a canadian cuck

[Anonymous No.11310992]

>>11310852
You're correct about this. The trick is not to get audited.

Reprot whatever you cash out as long term cap gains. Wash whatever you cash out through monero or a btc tumblr. Claim you got it form mining.

If it's not linked to your bank account, they can't track it.

[Anonymous No.11311022]

>>11310992
I should've thought about doing this but I did kyc on Bittrex and Gemini right when I started trading.

[Anonymous No.11311061]

>>11311022
Just wash it and cash out through another account. Only fucking retards would pay tax on trades that are virtually untraceable.

I'm just warning anons not to fuck around with Coinbase withdrawals.

[Anonymous No.11311120]

>>11311061
Then how do you withdraw it?

[Anonymous No.11311147]

>>11311120
if you did kyc through kraken and gemini cash out on a fresh coinbase. Or if you're doing less than 38k buy bullion from JM and cash out for cash at the coin shop.

[Anonymous No.11311170]

>>11311147
>a fresh coinbase.
Doesn't that just reintroduce the problem?

[Anonymous No.11311175]

Lol I owe about 5k in taxes, but I've never cashed out and I lost it all through hold meme. Went from 300$ to 21,500$. All I have on coinbase is 300$ deposit and tx to finance coffers. Only about 500$ now. Had 21,500$ on Dec. 31 to Jan. 1. I'm not worried nor care.

[Anonymous No.11311204]

>>11309577
dude looks like an accountant in that pic

[Anonymous No.11311205]

>>11310428
Its not BS at all. Its actually really simple. Make gains - pay taxes. Every trade is a taxable event just like trading stocks. You dont see stock traders complaining about how difficult taxes are do you? I paid almost 35K in taxes for 2017. Just download the trades from the exchange and send them to a CPA. Its almost like blockchain is an immutable ledger.

[Anonymous No.11311206]

>>11311147
coin shops report bullion sales.

[Anonymous No.11311211]

>>11311170
if you wash the btc or xmr first there's no c2c trades linked to your real identity so you'll only pay cap gains

[Anonymous No.11311216]

>>11310687
>even if it kills me. It probably will. And my crypto dies with me.
lol I've been getting these feelings lately too
heck I am paying tax if I cash out, but if I get fucked with one for time I'm not rolling over I'm ready to die

[Anonymous No.11311219]

>>11309577
I'm actually finishing it up right now right before the deadline. It looks like I'm ending up with a 8k refund from my prepayment

[Anonymous No.11311222]

>>11311206
i did not know that anon. Is there a threshold or do they even report $100 transactions and require ID to sell bullion?

[Anonymous No.11311238]

>>11310839
>If we see neets getting gunned down in their homes over this then you can bet your ass this going to cause backlash. And putting someone in jail over some confusing ass shit like this is also complete bullshit too. Honest people are literally the biggest targets right now and its fucked up.
hahaha I couldn't agree with you more
but it's what we've come to expect from the US government

[Anonymous No.11311382]

>>11309778
so much winning

sick of winning

[Anonymous No.11311408]

>>11309577
Looks like caught himself in a sticky... situation.

[Anonymous No.11311436]

>>11309585
>as serious as any other form of theft from the government
Glad I moved to CRYPTO ISLAND. Imagine living in an indoctrinated KEK LAND, boys.

[Anonymous No.11312045]

>>11310816
UNLESS you move your coins from one exchange to another. It ended up saying I had 11 free eth...

[Anonymous No.11312057]

>>11312045
>TFW I traded between 4 exchanges + mining

If I ever cash out I'm probably just figuring out what tax bracket I'm in, just pay that percent and hope they don't fuck me.

[Anonymous No.11312087]

>>11311222
cap is $5000-$10000 depending on where your at before they report it. so 2 or 3 oz of gold a day at several different coin shops shouldnt throw up any red flags

[Anonymous No.11312123]

>>11312045

I had this problem too on cointracking and bitcoin tax was doing my fucking head in, I think mine was 8 eth

[Anonymous No.11312185]

>>11312087
Until you deposit the money to try to buy a car or some shit. It's basically just food and gas money.

[Anonymous No.11312388]

The whole point of crypto is that it will allow for people with money to arbitrage countries' tax systems, and make it nigh impossible to tax the smart and productive in any meaningful way. It's the end of socialism.
And here you faggots are, self reporting. In detail.