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/biz/ - Business & Finance

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16235642 No.16235642 [Reply] [Original]

what happens if i dont report my capital gains? can i get away with saying they were immaterial?

>> No.16235650

>>16235642
>what happens if i dont report my capital gains?
assuming you're talking about crypto, nothing

just don't get any ideas about cashing out kek

>> No.16235656

>>16235650
>cashing out

>> No.16235658

>>16235650
it was robinhood crypto. i rebought what i sold like 10 minutes on coinbase after so i shouldnt have to report it anyway

>> No.16235661
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16235661

>>16235658
>robinhood crypto
not your keys, not your coins

>> No.16235667
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16235667

>>16235661
exactly, which is why i sold and rebought on coinbase so i had the keys
ddddd

>> No.16235686

>>16235658
Robinhood will report your transactions to the IRS. Just pay your 10-12% taxes. Besides, you're bound to lose whatever meager gains you made before the end of the year, so you should be able to take a nice loss and write it all off. You still have to report it either way.

>> No.16235699

>>16235686
op has to pay taxes on his cash out, the pay taxes again for purchasing crypto on CB

>> No.16235810

>>16235699
He doesn't have to pay taxes for CB until he sells.