My financial life is officially over. Help me move on, /biz/

[Anonymous No.55404827]

I owe seven figures in taxes to the IRS and the state. I have about 50k in crypto and nothing else. Mid-30s, live with my parents. I am paying an attorney to file a state installment agreement and an offer in compromise with the IRS. I am unlikely to be able to keep my assets after all is said in done, and I will miss the next bullrun and be at least six figures in debt with no assets. Every day I want to kill myself. I made dumb mistakes. I want to move on but my dreams haunt me. I wish I was dead. I've been reading about stoicism but the practice of it is incredibly difficult. I did my first therapy session the other day and it didn't help at all. I'm going to be 55 with a zero net worth and living with my parents. All my hopes and dreams are out of reach.

[Anonymous No.55404849]

>>55404827
How did you get 7 figs worth of taxes on gains and only have $50k to show for it?

Just take the slap on the wrist and live the NEET dream of your parents leaving you the house after they die.

[Anonymous No.55404863]

>>55404849
>How did you get 7 figs worth of taxes on gains and only have $50k to show for it?
gains were locked in for 2021, and instead of paying taxes like I should've I kept all of it in the market and lost it all in 2022
>Just take the slap on the wrist and live the NEET dream of your parents leaving you the house after they die.
I don't want this to be my destiny. I'm in denial that I'm such a failure.

[Anonymous No.55404871]

>>55404827

[Anonymous No.55404875]

>>55404827
if you lost all kinds of money on crypto shouldn't you be able to claim that or whatever?

[Anonymous No.55404887]

>>55404875
unfortunately losses cannot be carried backwards. my attorney said I could possibly use my 2022 losses in an appeal of some kind.

[Anonymous No.55404905]

>>55404849
>>55404863
>neet dream
This is bad advice, if you had busted ass the last 2 years you'd be better off with cash in hand. But it's not too late to become a bartender and make a lot of barbux from tipperinos.

[Anonymous No.55404918]

>>55404863
How did you rack up 7 figures worth of taxes? Unless you wash traded all your gains every single day. Clearly you know what you're doing and you can keep trading, just remember to actually cash out.

[Anonymous No.55404919]

>>55404863

[Anonymous No.55404920]

Any tax bros on here? Any way I can salvage my assets legally while appeasing the nation state overlords?

[Anonymous No.55404957]

>>55404863
pretty sure you can write what you lost off and it breaks even. Don't spend all your money on an attorney, just literally get an accountant. Pretty sure you can spread those gains/losses over a 3 year period but ask your accountant to be sure. You're fine.

[Anonymous No.55404961]

>>55404918
>you can keep trading
idk anon, my attorney says I can keep my crypto but I've consulted many others prior and they said I'd have to give it up...if I have to give it up I'm done for..

[Anonymous No.55404977]

Sounds like you need to buckle down and throw a hail mary on a lucrative career. It will likely take you a decade (at least) to pay off your debt, but the human spirit is an extraordinary thing after all.

[Anonymous No.55404979]

>>55404827
Do you have dual citizenship?

[Anonymous No.55404999]

>>55404957
Ouch, umm...how to say this to everyone here...

I personally use an accountant myself and it's quite clear that once your gains are locked in and realized from the previous year, it's permanent. You can't just use losses from the next year and immediately defer the taxes you owe from the locked in gains from the previous year.

[Anonymous No.55405020]

>>55404827
get your irs deal, get a job, save up 30k, meantime actually learn proper portfolio mgmt (see itpm) then start again building wealth and by 60 you are wise and rich. That’s life anon. It ain’t that bad. It’s not over until you dead. Your failure is just a lesson. You will get over it

[Anonymous No.55405025]

>>55404827
I got advice but can't say it over the web bruh

[Anonymous No.55405036]

>>55404827
>He didn't invest all of his internet chips into (RBE) to massively boost his profit and then put all that money under the couch
i mean you practically begged for the IRS to fuck you anal, what did you really expect to happen?

[Anonymous No.55405047]

>>55405020
I might not be able to save anything though, there's a nonzero chance I'll be paying both the state and the irs for 10 to 20 years.
I was living in a high rise apartment when the luna crash happened. I wish I had jumped.

[Anonymous No.55405053]

If you owe 7 figs 1m+ that means you had atleast 4m if thats short term cap gains. What did you buy meme coins?

[Anonymous No.55405054]

It's over.
Imagine all the BBC that will be throbbing away in your anus in prison.

[Anonymous No.55405077]

>>55405047
>luna
lmao gaga got what you deserved. sweet loss porn hope its real. I hate luna fags the most of all I was telling them the entire time it was going to collapse and the worst of all crypto schemes and they all laughed at me and said price go up.

[Anonymous No.55405146]

>>55405047
Grim if true. Post proof of former riches.
I had luna frens in twatter, I was praising their wisdom of investing in that gem.
They told me to sell my shit and go with luna. (lmao) all of them disappeared fast. Especially that crypto wizard dude. Biggest luna shill of all.

I don't like to see top cryptos fail. It's not a pretty sight.

[Anonymous No.55405216]

>>55405077
>>55405146
I never held luna. I mainly mentioned it because I remember it as the start of the bear market

[Anonymous No.55405225]

>>55404863
>and instead of paying taxes like I should've I kept all of it in the market and lost it all in 2022
nice

[Anonymous No.55405227]

>>55405053
I guess so. I had traded it down to almost nothing before I knew it

[Anonymous No.55405229]

>>55405216
ok then I take back what I said friend

[Anonymous No.55405277]

>>55405216
Post proof anyway. What did you held? How you raked in 7 figures irs debt.

[Anonymous No.55405280]

>>55405225
>>55405229
my only real hope now is in my attorney. but in all honesty I really have to learn how to move on from all of this hence the title. day to day living is torture

[Anonymous No.55405287]

>>55405277
what kind of proof do you want? what will I get in return?

[Anonymous No.55405291]

>>55405280
(((attorney)))

[Anonymous No.55405316]

>>55405277
I had 5 figures in 21 0 figures now.
Kewl beans

[Anonymous No.55405317]

>>55405287
Just a printscreen of your holdings at the top. If you real you must have had a prntscrn of your holdings and value in those exctasic times.

[Anonymous No.55405359]

>>55405317
how is that proof of anything? just use inspect element and do it yourself

[Anonymous No.55405377]

>>55404957
you can only carry losses forward, not back
at least that's how it works for individuals

[Anonymous No.55405411]

>>55404920
no, at this point if you owe them money, nothing you do from this point on to avoid paying them is legal. It would have needed to be protected before you lost the tax money

[Anonymous No.55405466]

>>55405359
Post irs letter then. Censor what you must.

[Anonymous No.55405504]

>>55405411
lets say I get a job, can I then get a 50k loan to pay them the equivalent value of the crypto in the offer in compromise and keep the crypto? are you a cpa?

[Anonymous No.55405549]

>>55405504
Post irs letter and I will send you 500 in chainlink

[Anonymous No.55405560]

>>55404961
firstly you need to get into xmr and have a boating accident.

[Anonymous No.55405594]

>>55405549
500 bucks isn't going to help me with anything, it's probably just going to make things more complicated.
I need help focusing on a new avenue of life. Money simply isn't a viable path to pursue at this point.

[Anonymous No.55405605]

>>55404905
Say he did have cash in hand. Then do what with it?

[Anonymous No.55405608]

>>55405594
How about you take out some loans then run? Australia? Thailand? Learn 2 code and start over somewhere else.
Irs won't be chasing you for unpaid taxes after some crypto trades

[Anonymous No.55405660]

>>55405504
why wouldn't you just hand over the crypto then when it's settled get a loan to rebuy it?
no I'm not a cpa

[Anonymous No.55405669]

>>55404827
Don't invest more than you can afford to use.

[Anonymous No.55405671]

>>55405608
50k in Thailand would let you live like a moderate king for 10 years.

[Anonymous No.55405685]

LARP thread

If you did huge gains on shitcoins it would have been off a CEX because shitcoins only dump on CEXs

That means you’re self reporting your DEX activity which you would not have done

So this is a bad LARP

[Anonymous No.55405700]

>>55405608
>>55405671
This, you're going to have to go on the run to a lady-boy country. In better news, you'll be living some people's dreams and will probably fare much better than the average balding American male with a thot daughter, gay son, nagging wife, and mortgage payments

[Anonymous No.55405710]

>>55404827
also have to pay 100k in january it fucking sucks.

But in your case I would just go all in on some top 100 coin and wait for the bull, if you have the time
Otherwise RIP

[Anonymous No.55405737]

>>55405685
I reported my DEX activity too cause I wanna enjoy my money fully legal.

Ofc we (ppl with a bit more money than the average user) also have a secret XMR stack just in case

[Anonymous No.55405764]

>>55405669
but also base your retirement off of it

[Anonymous No.55405778]

>>55405737
The only reason you would ever have to report is if you cashed out to a traditional bank account and had to explain how you got that money.

Just randomly reporting for shit you have in crypto and have never even cashed out to the traditional banking system makes absolutely zero sense

[Anonymous No.55405819]

>>55405778
Well yeah its cause i wanna have money on my traditional bank account too. Otherwise it doesnt make sense like you said.

Good thing is I learned my lesson and only do non taxable deals yet and still get to pay it out on my bank acc