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24957407 No.24957407 [Reply] [Original]

>You are now aware that crypto to crypto is a taxable event.

>> No.24957448

>>24957407
just broke 24k. kys loser.

>> No.24957496

Only in burguerland.

>> No.24957534
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24957534

>>24957407
They'll never know unless you're a whale or you cash out massively in one go (is what I tell myself)

>> No.24957544

>implying I’m ever going to sell

>> No.24957554

>>24957407
So is corn to kitchen chair. Pallet of wood to hair cut and side of beef to headgasket.

>> No.24957567

>>24957407
Come and take it.

>> No.24957592

>>24957407
>and capital gains taxes can be legally offset in a number of ways

>> No.24957593

>>24957407
>they won't even bother to look into it unless you're a richfag
>but report yourself anyway... just do it lol

How about no

>> No.24957615

>paying taxes on crypto

how retarded can you be.

>> No.24957648

>>24957407
not in my country, rekt

>> No.24957870

>>24957407
that just means you can't ignore most of your gains by saying it was all crypto to crypto.
TL;DR initial input - total gains = what you get taxed on, no matter what you did in between.
unless there's a tax on buying or selling crypto other than capital gains

>> No.24957902

>>24957592
elaborate ASAP

>> No.24957942

how does everyone justify not paying taxes? I never keep accounts and just tell myself Ive never made a profit. Thats legal right?

>> No.24958007

>>24957942
Im being audited right now. Basically puts your financial life into reboot mode.

>> No.24958034

>>24958007
do they audit poor people?

>> No.24958046

>>24957648
As crypto gets bigger they'll be regulations everywhere, so start taking profits.

>> No.24958078
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24958078

>> No.24958104

>>24958007
what do they audit, all your wallet records? or is it just the stuff the bank gets to see?
asking for a friend

>> No.24958110

>>24957407
What if I don't trade crypto and just bought in and hodled ?

>> No.24958122

>>24958034
The IRS prefers to audit poor people because they have less resources to dispute any audits. This is a known fact.

>> No.24958128

>>24957407
that’s only true when you have a country. now that laws have been revealed to be mere suggestions I’m doubting that this will work out well for the illegitimate chinese puppets running the us “government”

>> No.24958183

what if I just keep losing money

>> No.24958195

>>24958110
You still pay capital gains when you cash out

>> No.24958196

>>24958183
you pay interest on every loss you've made

>> No.24958546

I still have a half mil in STL to make up from a few years ago. As long as the gains are earned <365d and there are no wash sales, I am able to carry forward offset those past STLs until gains cover it. Half mil to go!

>> No.24959496

>>24958078
This is one of my fav memes of all time but I still pay my taxes