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/biz/ - Business & Finance

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4646746 No.4646746 [Reply] [Original]

CAN SOMEBODY JUST FUCKING EXPLAIN HOW CRYPTO TAXATION WORKS

>> No.4646755

It doesn't, which is why everyone, including you, is confused about it.

>> No.4646804

>>4646746
Assuming you're US.

If you sell for FIAT, and the IRS knows you did, you're liable for taxes.

If the IRS does not know you did, don't worry.

>> No.4646900

>>4646804
>If the IRS does not know you did, don't worry.

Until they ask you how you could afford that lambo. Or that mansion. Or that yacht ...

>> No.4647023

>>4646900
And then what do you tell them? How do tax crypto gains? Just ask them what they want?

>> No.4647209

BUMP

>> No.4647255

Retard everyone knows there are countless financial resources to cash out coins with no tax traceability. The american president is borderline retarded and he can do it, why do you think every country has huge tax debt

>> No.4647408

>>4646746
In the US, this is the current letter of the law; you add up the gains and losses of every trade you made during a fiscal year. Depending on how long you held those assets to make the trade and when you made it, you owe with long or short term capital gains come tax time. This happens even if you don't cash out.
https://www.fool.com/retirement/2016/12/11/long-term-capital-gains-tax-rates-in-2017.aspx

>> No.4647593

>>4647023
Same way you would tax on stocks.

>> No.4648041
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4648041

It's simple goym, any money you make, we are entitled to a piece of it.

hehehehehe

Be a good goy and pay up

>> No.4648049

>>4647255
Oh oh oh! I know this one!

Because retarded normalfags vote for idiotic shit promised to them by leaching parasitic assholes who in turn rob them blind when they get into power at the same time they pretend to give them what they asked for and the process accelerates over time until the entire thing snowballs into a catastrophic wreck and the underlying fiat currency is hyperinflated away as something which can actually be used as money crushes it forever?

>> No.4648078

>>4648049
Reddit

>> No.4648263

>>4648078
shut up fag that was a decent post

>> No.4648332
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4648332

>>4648049
status: #theresistance

what a fag

>> No.4648353

How about Australia?

>> No.4648939
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4648939

>>4648049
Sometimes I feel posts like these aren't the usual satire by a poltard but we have a legitimate retard problem streaming in from reddit.