/biz/ - Business & Finance

File: 76 KB, 878x746, taxes.png [View same] [iqdb] [saucenao] [google]

fuck the jews Anonymous Mon Sep 7 22:23:04 2020 No.22310057 [Reply] [Original]

scammed again

>>	Anonymous Mon Sep 7 22:35:44 2020 No.22310294 >>22310057 if you sell at loss you can offset the gains

>>	Anonymous Mon Sep 7 22:36:43 2020 No.22310317 >>22310294 only up to like $3k

>>	Anonymous Mon Sep 7 22:36:44 2020 No.22310318 >>22310057 Are you in profit at least?

>>	Anonymous Mon Sep 7 22:37:53 2020 No.22310334 >>22310317 Holy shit you’re a retard. Please get tax help

>>	Anonymous Mon Sep 7 22:38:22 2020 No.22310343 >>22310057 just turn off the computer lol

>>	Anonymous Mon Sep 7 22:39:35 2020 No.22310362 >>22310057 How fucking accurate is that? And how much did you actually profit?

>>	Anonymous Mon Sep 7 22:40:58 2020 No.22310384 File: 61 KB, 826x350, SUCK MY DUCK.jpg [View same] [iqdb] [saucenao] [google] >>22310334 if he a burger i'm fucking right, KYS faggot.

>>	Anonymous Mon Sep 7 22:41:25 2020 No.22310395 >>22310294 this doesn't show the loss. heh. >>22310318 of course. >>22310362 .....do you know where tax liability comes from? .......

>>	Anonymous Mon Sep 7 22:41:52 2020 No.22310402 >>22310057 Did you file taxes every year? Or is it the first time you’re reporting about your crypto gains to the jews Anon?

>>	Anonymous Mon Sep 7 22:42:56 2020 No.22310419 >>22310317 Lmfao imagine

>>	Anonymous Mon Sep 7 22:43:09 2020 No.22310425 >>22310384 >deduct 3k losses from income >offset cap gains

>>	Anonymous Mon Sep 7 22:43:18 2020 No.22310427 >>22310362 He should be making upwards of one mill before they tax 30%

>>	Anonymous Mon Sep 7 22:43:48 2020 No.22310436 File: 2.06 MB, 350x314, 1590168868994.gif [View same] [iqdb] [saucenao] [google] >>22310334 uh oh he doesnt know

>>	Anonymous Mon Sep 7 22:45:09 2020 No.22310461 Daniqua and LaShaquarius need new shoes. Do your part, jerkwad.

>>	Anonymous Mon Sep 7 22:45:34 2020 No.22310468 >>22310425 short term cap gains are seen as income

>>	Anonymous Mon Sep 7 22:48:36 2020 No.22310523 >>22310057 what's the best platform these days? I've been using cointracking.info but no support for uniswap imports. I feel like I'm gonna get hosed either way.

Anonymous Mon Sep 7 22:50:36 2020 No.22310557

>>22310384
you calculate your capital gains AND THEN apply it to income retard.
>buy something for 100k
>it goes to 200k, you sell
>you owe taxes on that 100k profit
>week later you buy a shitcoin
>it dumps from 200k to 100k
>you made no money this year
>you owe no taxes

not that hard. The hard thing is calculating it accurately because if you move between exchanges and shit, it gets complex.

>>	Anonymous Mon Sep 7 22:51:31 2020 No.22310569 >>22310384 You aren’t understanding it. That $3K is essentially irrelevant and counts toward offsetting income, not capital gains.

>>	Anonymous Mon Sep 7 22:52:46 2020 No.22310587 >>22310569 Lol i learned the fucking hard way on this..oh shit i have 3k coming to me from losses no worries! KEK

>>	Anonymous Mon Sep 7 22:53:50 2020 No.22310604 File: 184 KB, 727x727, 1590789186319.jpg [View same] [iqdb] [saucenao] [google] >>22310057 What app?

Anonymous Mon Sep 7 22:55:17 2020 No.22310629

>>22310557

Can you explain what happened to this one plebbitor then:

https://www.google.com/amp/s/amp.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/

Because what you described is what exactly happened to him but apparently you still owe taxes no matter what as soon as you create a taxable event.

>>	Anonymous Mon Sep 7 22:56:08 2020 No.22310644 >>22310317 3k is probably the limit for a tax REBATE, not necessarily tax deduction form existing gains. not sure though, but pretty sure thats how it works in leafland

>>	Anonymous Mon Sep 7 22:57:24 2020 No.22310661 >>22310604 post the nudes

>>	Anonymous Mon Sep 7 22:57:26 2020 No.22310662 >>22310468 No they’re not you fuqing retard. Go get a CPA

>>	Anonymous Mon Sep 7 22:58:32 2020 No.22310677 >>22310557 This is fucking wrong holy shit. Get an accountant and a tax attorney before you ruin your life.

>>	Anonymous Mon Sep 7 22:59:21 2020 No.22310692 >>22310569 right. >>22310604 i'll tell you after they finish my taxes. kek. DO YOUR TAXES, BIZ.

Anonymous Mon Sep 7 23:01:26 2020 No.22310732

>>22310629
Crypto to Crypto is a taxable event.
>Buy BTC at 1 dollar
>Sell at 10 dollars for LTC at 1 dollar
>You made a 9 dollar per BTC profit, you owe taxes on said profit

that's his problem because then somewhere along the line he probably made a lot of money swinging and it caused problems. Because then when the next year rolled around ,he got RAILED because he didn't have enough to sell to offset his tax losses. The IRS probably just let him go though in the long term. That happened with a lot of people.

>>22310677
it's literally not retard. Why is it that stock market traders have figured this out but /biz/ can't?
>well it says here you made 100k in 2018 and lost 100k in 2018 but we're gonna need you pay taxes on that 100k anyways

>>	Anonymous Mon Sep 7 23:02:50 2020 No.22310758 >>22310661 >>22310692 Great thanks assholes. It’s TokenTax if anyone‘s curious

Anonymous Mon Sep 7 23:03:32 2020 No.22310768

>>22310677
Please tell me why you think he is wrong. Burger here who has done taxes this way for two years in crypto. Have not been audited and have been making a decent amount of money (+50k on income).

As long as your gains and loses are in the same year they can balance out.

>>	Anonymous Mon Sep 7 23:03:34 2020 No.22310770 >>22310629 The explanation is in the thread you linked. Learn to read plz

Anonymous Mon Sep 7 23:04:28 2020 No.22310781

>>22310732
and PS -- I'm not saying taxes aren't complex. It's horseshit that the IRS has instilled this much fear in us all. I'm petrified because I haven't been doing a decent job keeping track of where all my shit is and it seems like the only taxable events should be 1) cashing out to fiat or 2) purchasing a good or service

>>22310758
Do you like it? Is it accurate? Cointracking.info is nice but it did a meh job importing trades, but it was the only one that even half got margin trades right when I used it for Kraken

>>	Anonymous Mon Sep 7 23:06:46 2020 No.22310808 >>22310781 I also recommend locking in losses if there is sufficient liquidity to do so. I did it today.

>>	Anonymous Mon Sep 7 23:10:37 2020 No.22310857 >>22310781 crypto to crypto trades, any trade, is a taxable even for burgers.

>>	Anonymous Mon Sep 7 23:14:20 2020 No.22310923 >>22310857 event*

Anonymous Mon Sep 7 23:17:47 2020 No.22310982

>>22310857
sure. But so is any stock trade. But you don't pay taxes just because you made a trade. You figure out how much profit or loss you made in a year, and you calculate your taxes on that if you made a profit or deduct it as a capital loss.

Now Joe Biden's VP pick, Kamala Harris, wants to tax you on the cost basis of ANY trade you make. Wouldn't that be fun? Surely this will solve economic inequality in our country, punish wall street, and certainly won't hurt retail investors.

>>	Anonymous Mon Sep 7 23:24:11 2020 No.22311106 >>22310427 In aust cap gains just gets added to income our highest tax bracket is 180k+ in which they take 30% of the 180, and 45cents in every dollar after.. Do love keeping their citizens in the middleclass

>>	Anonymous Tue Sep 8 00:25:09 2020 No.22312126 >>22310982 welcome to the new world order. hope you've made enough off all this garbage to live comfy for 20 years.

Advanced search
Text to find
Subject [?]Search by post subject. Leave empty for any.
Username [?]Search for user name. Leave empty for any user name.
Tripcode [?]Search for tripcode. Leave empty for any.
Email [?]Search by email. Leave empty for any.
Filename [?]Search by image filename. Leave empty for any.
From Date [?]Enter what date to start searching from. Format is YYYY-MM-DD
To Date [?]Enter what date to start searching until. Format is YYYY-MM-DD
Image hash
Search in	All Posts OPs Only
Deleted posts	Show all posts Show only deleted posts Only show non-deleted posts
Internal posts	Show all posts Show only internal posts Show only archived posts
Order	New posts first Old posts first
Capcode	All Posts Only by Users Only by Mods Only by Admins Only by Developers
Results	Posts Threads
Action	[ Simple ]