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/biz/ - Business & Finance

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23254317 No.23254317 [Reply] [Original]

Let's say you have a$238,000 sitting in your metamask wallet. You haven't paid your taxes yet. Then, a day after torrenting an Adobe Product, you find that your metamask wallet is empty. Would the irs still want their money?

>> No.23254346
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23254346

>>23254317
that didn't happen to you did it?

>> No.23254368

>>23254317
That’s impossible because anyone with that much money would have it on a hardware wallet connected to metamask. Trust me anon no ones that dumb

>> No.23254513

>>23254368
Chico crypto had $300,000 on his

>> No.23254759

>>23254317
you still owe taxes. securities theft isn't an allowable deduction. https://www.irs.gov/taxtopics/tc515

>> No.23255421

>>23254759
What if he never realized it? He wouldn't be taking a deduction, and he's not realizing the gains by having it stolen.

>> No.23255442
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23255442

>>23254759
>get your money stolen
>gubmint won't help you find it but will demand you pay for it

Just let it all fall.

>> No.23255455

>>23254759
Also I'm not seeing the term "security" on that page at all. I see that theft of property (like bitcoin) is the allowable deduction, you use your cost basis as the value (ie, it's "sold" for $0).

>> No.23255501

>>23255442
Every day for years now my hatred grows for the IRS and federal government.

I started a shop on Etsy. Making about 500 a week after expenses. Gotta save $150 of that for the mother fucking no good shitbag government so they can buy another $2000 hammer and $4000 coffee mug for the military industrial complex

>> No.23255509

Ayy lmao

>> No.23255521

>>23254317
pay your taxes, scum

>> No.23255554

Lost the seed phrase bro

>> No.23255557

>>23255501
Get dabbed on
>>23255521
This I luv big brotha luv me gubmint. 'atw them tax dodgers, 'ate poor people

>> No.23255636

>>23254317
Not unless you realized the gains such as the tax year changed 2020 gains -> 2021 lost wallet
But also realize if you put sold at $0 theyre almost definitely going to ask why and follow up with an audit.

>>23254759
https://www.fidelity.com/viewpoints/personal-finance/tax-loss-harvesting