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/biz/ - Business & Finance

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4619969 No.4619969 [Reply] [Original]

Bitcoin is property
- IRS 2014
Boomer stockcucks BTFO

>> No.4620018
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4620018

>>4619969
Weak bait, you forgot a small section, 8/10 made me google that shit

>> No.4620034

>>4620018
Crypto is not on that last unless it's a erc20 token.

Also this only applies with swaps not cashing out to fiat which you still need to pay capital gains.

>> No.4620066

So what's the fucking bottom line, are we supposed to be paying taxes on each gainful trade or aren't we

I don't mind paying the money but I can't fucking deal with the expectation of calculating taxes for each one of my thousands of trades

>> No.4620082

>>4620034
Show me the law.

>> No.4620134

>>4620034
not on list for erc20 either
Unless of course the token is actually tied to company ownership like a stock.

The "other property held primarily for sale" applies to dealers of said property
It is why realestate brokers can't do 1031 exchange with real estate.

Cryto is held for investment by the vast majority of people trading it. It is not stock held for sale.
Funny thing about that though.
You know all the pajeets who are payed to shill shitcoins?
they work in crytpto. So any coin they hold or sell is considered property held for sale not investment property.
Poojeet has to pay taxes on all cryto exchanges!!!

haHAHHAHAHAhahahHAHAhHAHAhahahqaha