[ 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: 162 KB, 954x1200, 9b7a0986f923884dee790631189a0980[1].jpg [View same] [iqdb] [saucenao] [google]
19035322 No.19035322 [Reply] [Original]

It was fun for a while, but I wanna use the profits I got from BTC for a house now..

How do I cash out?

>> No.19035337

>>19035322
>not cashing out in 2022
why are you doing this to yourself?

>> No.19035368

>>19035322
what did you do till now to find this answer by yourself?

>> No.19035415

>>19035322
What the fuck do you mean? You sell your Bitcoin for $, and then get whichever broker you use to transfer the $ to your account? You ARE using a legitimate broker, right?

>> No.19035420

>>19035322
In the US? Simple. Sell the assets on a payment gateway (coinbase), transfer or wire to your bank, set aside applicable taxes.
Next year file your 1099-B being sure to include every individual trade on the Form 8949 to prove the cost basis of the the capital.
When I did this for the 2017 tax year this packet was 219 pages long.

>> No.19035422

>>19035322
live in the netherlands

>> No.19035488

>>19035422
use bitvavo

>> No.19035492

>>19035488
i know. i just mean that he should i live in the Netherlands since there is no income tax on crypto

>> No.19035536

>>19035322
>cashing out internet money...

>> No.19035697

Send me 5 bitcoin and I willl send 20 back, easy 2x on your money and we can set up the next payment process for cashing out

>> No.19035770

>>19035420
This. Also, I know all the memes about the IRS being bloodthirsty jew hounds sniffing every penny and will ass-fuck you if you deny them even one cent, but its likely that even if you are audited and the 65 year old boomer SOMEHOW determines that you didn't list all of your cryptographically secured currency trades of which they have zero grasp on- you will at most be ordered to pay what you had missed. You can even make these payments over times, with no interest/penalties (unless blatant serial offender).

CB --> Bank. Calculate taxes on the gains yourself and put in a savings account until next tax year (if you made enough to buy a house, you will NOT be receiving an income return next year, but will be PAYING). As goy cattle as it sounds, just pay the taxes and play it safe. Lives not worth living looking over your shoulders.

>> No.19036528

Puerto Rico

>> No.19036745
File: 8 KB, 220x220, IMG_8724.jpg [View same] [iqdb] [saucenao] [google]
19036745

>>19035322
In the quiet words of the Virgin Mary, come again?

>> No.19037027

>>19035322
Can't you just ask the land owner that you'll pay in btc?

>> No.19037038

>>19035322
fuck you

>> No.19037122

>>19035415
Yea man of course, this guy called Antanov messaged me through instagram and he does my trades, all i have to do is wire him cash.

>> No.19037219

>>19035322
>cashing out now
ngmi
https://m.youtube.com/watch?v=jfx7PnMtCeY