Can't you just say that you lost all profit on shit coins? How the fuck could they track that

File: 841 KB, 858x645, irs.png [View same] [iqdb] [saucenao] [google]

Anonymous Thu Nov 30 14:51:37 2017 No.4685368 [Reply] [Original]

Can't you just say that you lost all profit on shit coins? How the fuck could they track that

>>	Anonymous Thu Nov 30 14:53:26 2017 No.4685394 >omg all my btc from normiebase is tracked >use non US exchange >btc to xmr >xmr to btc sorry government i lost all my btc, it got stolen by some xmr scammer. i cant pay taxes on my massive loss of all my btc congrats u just evaded taxes

>>	Anonymous Thu Nov 30 14:55:24 2017 No.4685430 >>4685394 thats illegal

>>	Anonymous Thu Nov 30 14:58:37 2017 No.4685481 >>4685368 Track what you put in your account and what goes out. When you give your ssn they give the info of what you put in and take out to the irs.

>>	Anonymous Thu Nov 30 14:59:07 2017 No.4685487 File: 91 KB, 480x337, 1508865515545.jpg [View same] [iqdb] [saucenao] [google] I wish it was a lie man... Lost it all. Feels bad

>>	Anonymous Thu Nov 30 14:59:39 2017 No.4685498 >>4685430 So is suicide. You should still do it though

>>	Anonymous Thu Nov 30 15:00:36 2017 No.4685519 >>4685498 Kek

>>	Anonymous Thu Nov 30 15:02:25 2017 No.4685555 >the IRS has come knocking at bitcoin's door so? there have been taxes on crypto since day 1

Anonymous Thu Nov 30 15:03:46 2017 No.4685582

>>4685368

They probably wont look too deep into your day to day trading unless youre Depositing/Withdrawing large sums (over $20k) via a crypto related company (ie: coinbase) to your US bank acct.

You only pay taces on or Capital Gains, gains is the key word. If youre under water you dont even have to worry about it.

Anonymous Thu Nov 30 15:03:51 2017 No.4685584

>>4685368

I hope all you US bros got a good fucking legal insurance and all sue the fuck out of the IRS and the Government. It's absolutely ridiculous to not have legal boundaries on crypto but already collect your tax on it.
Also insist that you pay your taxes in Cryptocurrency and not in Dollars.

Make them accept crypto officially
You might pay a lot of taxes in the end still, but governmental acceptance and media presence would drive up the value incredibly making back your taxes easily

>>	Anonymous Thu Nov 30 15:04:42 2017 No.4685600 File: 21 KB, 624x139, irs2.png [View same] [iqdb] [saucenao] [google] >>4685555 why isn't anyone reporting it then?

>>	Anonymous Thu Nov 30 15:04:59 2017 No.4685606 File: 26 KB, 235x300, 1504408518243.jpg [View same] [iqdb] [saucenao] [google] >>4685498

>>	Anonymous Thu Nov 30 15:06:17 2017 No.4685638 just pay the fucking tax man faggots. you are making out like bandits anyways.

>>	Anonymous Thu Nov 30 15:08:04 2017 No.4685670 >>4685368 Unknown amount of M O N E R O O N E R O

>>	Anonymous Thu Nov 30 15:08:17 2017 No.4685675 >>4685638 FUCK YOU

>>	Anonymous Thu Nov 30 15:10:19 2017 No.4685713 >>4685638 >you are making out like bandits anyways. exactly all these faggots claiming they are crypto rich since everyone here is a baller and a bitcoin millionaire just pay the 39% tax and get over it

>>	Anonymous Thu Nov 30 15:11:39 2017 No.4685738 >>4685394 then how do you cash out

>>	Anonymous Thu Nov 30 15:48:43 2017 No.4686452 >>4685394 You're gonna have to prove it. If you have an upscale lifestyle they'll just throw you in jail anyway

>>	Anonymous Thu Nov 30 15:54:06 2017 No.4686557 >>4685368 They can't, you can just tell the coins got stolen. And unless you cash to usd, they shouldn't have the right to monitor it, after all, it's just "internet money", it has no real value.

Anonymous Thu Nov 30 15:58:05 2017 No.4686634

>>4686557
unless the article is saying they come when you cash out. In that case, don't cash out, you're just cucking yourself.
If you have 10-20 bitcoin you can probably retire right now at the rate bitcoin grows as long as you're not a spender. You can't really show off your gains but you can still get chicks in other ways

>>	Anonymous Thu Nov 30 16:03:01 2017 No.4686714 >>4685498 lul

>>	Anonymous Thu Nov 30 16:05:35 2017 No.4686761 >>4685713 Uncle Sam wasn't there when I was shootin' in the gym. When I lost 80% he wasn't there. But now that I'm up 1990% he wants a cut. Fuck dat bitch

>>	Anonymous Thu Nov 30 16:09:11 2017 No.4686853 Guess I'll pay tax on the amount of monero that I elect to inform the irs about

>>	Anonymous Thu Nov 30 16:41:19 2017 No.4687377 >>4685394 where's the police report anon?

>>	Anonymous Thu Nov 30 16:55:24 2017 No.4687573 >>4685394 >Gets shot in the leg >Pay your fucking taxes NOW

>>	Anonymous Thu Nov 30 17:07:21 2017 No.4687770 File: 28 KB, 480x360, 1511091557139.jpg [View same] [iqdb] [saucenao] [google] >>4685498 o shit lol

>>	Anonymous Thu Nov 30 17:13:47 2017 No.4687873 File: 110 KB, 680x480, bigstock-Capital-Gains-Tax-60977750.jpg [View same] [iqdb] [saucenao] [google] Funny thing about the blockchain - its going to be so fucking easy for the governmen to track your trades. They wont even need a warrant LOL.

>>	Anonymous Thu Nov 30 17:18:25 2017 No.4687947 >>4687873 This is where Monero takes over

>>	Anonymous Thu Nov 30 17:18:43 2017 No.4687952 File: 22 KB, 485x443, 1510947969987.png [View same] [iqdb] [saucenao] [google] >>4687873 >BTC to XMR >XMR back to BTC wow I'm a genius I guess

>>	Anonymous Thu Nov 30 17:27:36 2017 No.4688115 So like, what am I supposed to do if I don't really track my coins at all? All I do is buy, trade, and cash out willy-nilly whenever I get paid. I honestly have no idea how much I've made/lost over the years. How fucked am I?

>>	Anonymous Thu Nov 30 17:29:52 2017 No.4688146 >>4685368 You can say you just lost your private address. That's all you have to do. I "lost it" (it's in a brain wallet).

>>	Anonymous Thu Nov 30 17:31:01 2017 No.4688170 >>4685368 Can't you report losses as a tax deductible?

>>	Anonymous Thu Nov 30 17:31:37 2017 No.4688177 >>4685498 jej

>>	Anonymous Thu Nov 30 17:32:34 2017 No.4688195 >>4687947 I agree but its too late. The huge gains and our trades are on the chain - before Monero.

>>	Anonymous Thu Nov 30 17:33:39 2017 No.4688219 >>4688115 Very fucked. Audit time bitch.

Anonymous Thu Nov 30 17:34:12 2017 No.4688231

>all these people unironically saying to pay taxes

What's with the reddit invasion lately ?
Why should I pay taxes ? Does the government provide any market protections when it comes to bitcoin ? Of course not.

>b-but muh poor people
you have to go back

>>	Anonymous Thu Nov 30 17:38:11 2017 No.4688307 >>4688231 >living in an imaginary world where you dont partake of everything the gubmint builds and maintains, such as social services, infrastructure, defence, etc The price of living in society is tax. Otherwise, fuck off to a remote island.

Anonymous Thu Nov 30 17:39:57 2017 No.4688335

>>4685368
it doesn't matter if you know/remember...they know. coinbase and all the other exchanges have your info, your ip logs, and all your transactions. you really have no idea how good forensics teams are, do you?
>lost my seed
'no worries, we know how much you owe from your records...pay us now + this huge fine + a little bit of prison time for evading' (it's a felony)

Anonymous Thu Nov 30 17:41:42 2017 No.4688356

>>4688307
you already pay income tax and a bunch of other taxes like sales tax, property tax or whatever the shit you americans have. It makes sense to pay taxes in some of these stuff because the government can protect you in some cases. No such protections in crypto. Why pay tax then ?

Hell, why don't we tax everything then ? if you want to give your friend an apple, then have the state take 1/3rd of it. It's the price of living in a "civilized" society, after all :)

>>	Anonymous Thu Nov 30 17:44:45 2017 No.4688420 File: 640 KB, 1080x1410, 20170914_080806.png [View same] [iqdb] [saucenao] [google] >Implying that an understaffed revenue collector has the resources to go after coiners.

>>	Anonymous Thu Nov 30 17:47:20 2017 No.4688470 >>4688356 >Hell, why don't we tax everything then ? if you want to give your friend an apple, then have the state take 1/3rd of it. It's the price of living in a "civilized" society, after all :) https://en.wikipedia.org/wiki/Gift_tax

>>	Anonymous Thu Nov 30 17:49:12 2017 No.4688502 File: 78 KB, 600x409, 24-williamsburg-mob-film-2016-07-22-bk01_z.jpg [View same] [iqdb] [saucenao] [google] >>4688307 >The price of living in society is tax

>>	Anonymous Thu Nov 30 17:50:29 2017 No.4688519 >>4685368 Just tell them you got JOOSTED

>>	Anonymous Thu Nov 30 17:52:29 2017 No.4688547 >>4688307 >bums "cleaning" your wind shields against your will is a good thing you're a cuck

>>	Anonymous Thu Nov 30 17:54:08 2017 No.4688579 >>4685638 >tax man faggots. you are making out like bandits thats why we dont pay them

>>	Anonymous Thu Nov 30 17:56:09 2017 No.4688619 >>4688170 Only upto 3k

Anonymous Thu Nov 30 18:11:47 2017 No.4688856
File: 54 KB, 692x245, PooLandAwaits.png [View same] [iqdb] [saucenao] [google]

Unless you are a pajeet shit coin shill Bitcoin is considered investment property.
This goes for anyone who works in crypto. If you earn money for crypto in promoting it, working on an exchange or mining it any crypto to crypto exchange is considers a trade in your business stock.
A non-crytpo example is like a jeweler trades his silver bullion to a another jeweler for gold bullion. If the value of their bullion went up between when they bought it and when they traded it they got to pay taxes on it.
You do not get taxed on the rise of bitcoins price.
You have to sell it for fiat to get taxed
You do not get taxed on any cyrpto to crytpo exchange.
Such an exchange is considered a 1031 exchange of like kind investment property and is exempt from taxes.
If you buy retail items like gift cards computer parts email services etc these are considered sales of bitcoin for fiat and are taxable. Same way barter is considered taxable i guess.
Bitcoin for gold and silver might be a 1031 exchange but risky if you are wrong. Though gold and silver are investment property the IRS might not consider them "like kind".

>>	Anonymous Thu Nov 30 18:50:42 2017 No.4689517 >>4686761 this

Anonymous Thu Nov 30 18:54:32 2017 No.4689580

>>4688856
The IRS never said that crypto to crypto trades qualify for 1031 like-kind capital gains deferral. But even if they do, they don't apply by default, you still have report each transaction on Form 8824 and get it cleared by the IRS to defer gains.
https://www.irs.gov/pub/irs-access/f8824_accessible.pdf

You'd have to fill out this 2 page form for each trade. It's clearly unfeasible and not meant for it.

Anonymous Thu Nov 30 19:04:57 2017 No.4689747

>>4685394
How do you intend yo cash out? The only way is selling it cheaper peer to peer on the internet (ebay or some shit) or in person. If you cash out from a bank they will always track you and youll have to explain in full detail how you won that money.

Theres 2 things certain in life. Death and taxes. Even al capone got fucked by evading taxes. Just quit trying

>>	Anonymous Thu Nov 30 19:12:52 2017 No.4689897 File: 221 KB, 1277x960, btclambo.jpg [View same] [iqdb] [saucenao] [google] >>4689747 >cash out you buy the lambo in BTC

>>	Anonymous Thu Nov 30 19:15:09 2017 No.4689933 >>4689897 uh, the dealership has to report their sales on their tax return. so there's going to be some questions to be had if the IRS says you bought a lambo with BTC from X dealership.

Anonymous Thu Nov 30 19:16:49 2017 No.4689970

You are literally making money by speculating on an asset that in itself is a speculation. Let me toss this in an analogy. A child has a birthday, you bet not on the candles all being blown out but his fucking wish. Yes Anon, you got paid for betting his wish would be to ride a unicorn. Just pay the capital gains and quit trying to out maneuver a machine that has no prejudice

Anonymous Thu Nov 30 19:21:25 2017 No.4690043

>>4689747
>what is cashing out abroad

All the rich do this.

Only poorfags and wagecucks believe the pay taxes meme.

Hurrr durr the government is entitled to a cut of the profits I make for my entire life, this is a fair and correct system. I will abide by it unquestionably even when I have the opportunity to avoid it, because I saw in the media something about taxman catching badman

>>	Anonymous Thu Nov 30 19:22:18 2017 No.4690055 >>4689933 >move in another country >buy new passport or just dont be born in amurrica

>>	Anonymous Thu Nov 30 19:23:29 2017 No.4690074 >>4690043 This is another reason why BTC is going to $1,000,000+, all the billionaires will put their wealth there instead of getting their offshore accounts leaked. >inb4 they will use monero or some no liquidity shitcoin kys

>>	Anonymous Thu Nov 30 19:24:46 2017 No.4690098 >>4690043 This is the best post I've seen on this sub all day

>>	Anonymous Thu Nov 30 19:27:50 2017 No.4690165 >>4686761 THIS! Here's how a fair tax would look like: > guy goes from $100 to $200, pays %39 tax guy gets $61, gov gets $39 - guy loses $100, pays 39% tax (NEGATIVE gain) guy loses $61, gov loses $31

>>	Anonymous Thu Nov 30 19:31:36 2017 No.4690233 >>4690165 FIXED: Here's how a fair tax would look like: > guy goes from $100 to $200, pays %39 tax guy keeps $61, gov gets $39 > guy loses $100, pays 39% tax (NEGATIVE gain) guy loses $61, gov loses $39

>>	Anonymous Thu Nov 30 19:32:10 2017 No.4690243 >>4688115 can't prove what you can't find just find as many losses as possible

>>	Anonymous Thu Nov 30 19:33:12 2017 No.4690255 >>4688502 sick opt me the fuck out

>>	Anonymous Thu Nov 30 19:37:29 2017 No.4690313 >>4685738 >cash out good one anon

Anonymous Thu Nov 30 19:39:53 2017 No.4690347

>>4690043
This is called "tax evasion".

People do it all the time, in many different ways. Just hope you don't get caught when the IRS asks you how you paid for that lambo!

Quick lesson to you poor faggots from someone who was rich before crypto (not that any of you fags with your sub 1k portfolios are "rich")

The IRS doesn't give a shit about you, because you are poor. They are an entity designed to extract maximum profit from the people with their limited resources. Since they have limit resources, they only target high end tax evaders.

Anyone can get away with grotesque amounts of tax evasion easily, but things get tricky when you start trying to buy stuff... like a house, super car, vacations, etc. That's when the IRS will come down on your ass and you'll go to jail. Have fun!

>>	Anonymous Thu Nov 30 19:47:40 2017 No.4690471 File: 6 KB, 250x245, pep.jpg [View same] [iqdb] [saucenao] [google] >>4686452 I've made a boatload in crypto and my lifestyle barely changed. Went from NEET to TurboNEET. Better computer, bigger TV, more anime. Fuck the IRS.

BnB Thu Nov 30 19:55:10 2017 No.4690605
File: 12 KB, 259x194, ms.jpg [View same] [iqdb] [saucenao] [google]

how much time we talking about?and will it be at a country club place like that CUNT charlie shreum went to? i've done time in LA County, NOT BRAGGING , but it's like they say "if you can survive County, you can survive anywhere."

>>	Anonymous Thu Nov 30 19:59:07 2017 No.4690685 If someone gives you money, can it be taxed? What about donations?

>>	Anonymous Thu Nov 30 19:59:42 2017 No.4690694 >>4685498 rop jej

>>	Anonymous Thu Nov 30 20:02:23 2017 No.4690745 File: 270 KB, 450x597, Tax-Service-Guy.png [View same] [iqdb] [saucenao] [google] Anon we noticed you bought 25 lambos. Can you explain to me how you can afford that?

>>	Anonymous Thu Nov 30 20:27:04 2017 No.4691360 The funny thing is that it is good to pay taxes for a society that you care about. But it seems only like the poor pay taxes and rich avoid them.

>>	Anonymous Thu Nov 30 20:28:39 2017 No.4691411 >>4691360 Also >make crypto gains >hurdur I'm rich >pays taxes >still a wage slave By definition

>>	Anonymous Thu Nov 30 20:35:31 2017 No.4691580 >>4691360 the top 1% pay for half of the federal income tax, the bottom 20% don't even make enough money to get taxed and get more in government services. the rich do pay their taxes, some of them don't, but the vast majority do.

>>	Anonymous Thu Nov 30 20:37:03 2017 No.4691613 >>4687952 Why switch back? ,

>>	Anonymous Thu Nov 30 20:39:35 2017 No.4691661 >>4690745 kills tax man takes poison in court

>>	Anonymous Thu Nov 30 20:46:24 2017 No.4691776 >>4686761 This man gets it

>>	Anonymous Thu Nov 30 20:47:02 2017 No.4691791 >>4688307 How about I fuck off to the future where I pay for the service I volunteered to pay for and buy and consume what I feel like and not be treated like a child. Enjoy your gibs while they last nig.

>>	Anonymous Thu Nov 30 20:48:24 2017 No.4691813 >>4685368 meet ups with people sellling bitcoin for cash, kindof like drug dealing but not as illegal

>>	Anonymous Thu Nov 30 20:49:12 2017 No.4691826 >>4685606 Bet this is in Florida lmao

>>	Anonymous Thu Nov 30 20:49:14 2017 No.4691827 >>4685498 ho lee fuk

>>	Anonymous Thu Nov 30 20:52:31 2017 No.4691873 >>4690685 you should know by now the government wants to tax money not only every time it is moved or changes hands, but also every year it is held.

>>	Anonymous Thu Nov 30 20:52:38 2017 No.4691879 >>4689747 >buy drugs off darknet in bulk with btc >sell to normies for even more gains congrats you just cashed out like a chad

>>	Anonymous Thu Nov 30 20:57:22 2017 No.4691965 >>4687573 >the dapp on my phone records the signature and sends 5 trig to a chainlink oracle

>>	Anonymous Thu Nov 30 21:00:22 2017 No.4692015 >>4688307 >The price of living in society is tax. Otherwise, fuck off to a remote island. i will. once i cash out. fuck tards. why would i want to live in society??

>>	Anonymous Thu Nov 30 21:02:52 2017 No.4692062 >>4690745 >GET A WARRANT YOU FAT FUCK >slam door

Anonymous Thu Nov 30 21:03:32 2017 No.4692076

>>4689747

Just make so much fucking money that you can a) hire a wicked awesome accountant who can set your shit up so you have businesses, investements, and can deduct your expenses, and b) Focus on making so much money that you don't have to give a shit about taxes

>>	Anonymous Thu Nov 30 21:11:25 2017 No.4692219 >>4685584 And pay real estate taxes in bricks and cement.

>>	Anonymous Thu Nov 30 21:48:47 2017 No.4692845 >>4691661 underrated

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