[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 1.60 MB, 1224x1584, 1515782428495.png [View same] [iqdb] [saucenao] [google]
6677593 No.6677593 [Reply] [Original]

WHY THE FUCK DO I HAVE TO ENTER EVERY FUCKING TRANSACTION ON THE TAX FORM?!

WHY I FUCK CAN'T I JUST LIST THE NET LOSS. IM GOING TO BE HERE FOR FUCKING DAYS TO GET THIS DONE

THANKS ALOT TRUMP

REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

>> No.6677720

>>6677593
On the bright side billion dollar corporations got a nice tax cut.

>> No.6677772

move to singapore, no tax on crypto.

>> No.6677815

>>6677593
>>6677772
Lol. Poorfags. No tax on crypto here in NL either.

>> No.6677890

This is a meme, right? I make probably around 20-30 trades per day. Wouldn't be surprised if I was above 1000 trades in 2017...

>> No.6677928

>>6677593
>paying taxes
Cant help you i dont enjoy having big dildos up my ass

>> No.6678011

Hey lads, heres a fucking protip that will stop you from going bald.

EVERY EXCHANGE HAS AN OPTION TO ***EXPORT TRADE HISTORY***
YOU DOWNLOAD A SPREADSHEET WITH ALL DETAILS OF EVERY SINGLE TRADE AND JUST SEND IT TO YOUR ACCOUNTANT OR IRS, LET THEM DEAL WITH IT
caps sry

>> No.6678047

>constant tax fud magically pops up after crash
I wonder which kike is behind this

>> No.6678051

>>6677928
>evading taxes

You'll be getting the real thing up your ass eventually.

>> No.6678095

>>6678051
You'd like that psycho

>> No.6678096

>>6677593
>WHY THE FUCK DO I HAVE TO ENTER EVERY FUCKING TRANSACTION ON THE TAX FORM?!

You don't have to until next years taxes. All you need to do is every time you converted to cash in your account.

>> No.6678127

>>6677593
Request your tax transcript and see what the IRS actually has for information before you file.

If you were using a decent brokerage for stocks you can output the data into TurboTax pretty easily.

If it is Crypto-trading there is really no way to tell what trades you made so make an estimation of your gains to the best of your ability and remit taxes that way. You really can only be taxed when you have transferred out into US dollars or you exchange for tangible goods or services. While the IRS can claim you need to pay taxes on every transfer between coins that is impossible to determine because you would need to make a conversion into an amount of US currency based on a benchmark price to determine if there is a taxable event and there is no guarantee you would receive that amount unless you actually transferred it into currency.

>> No.6678155

>>6678095


Me? No, but Tyrone will.

>> No.6678160

>>6678051
I dont plan to cash out untill the market goes up to at least 10 trillion by then I'd have enough to move to a place where the gove doesnt leech of the people if my plan doesnt work I'd rather go to jail those jews aren't getting a penny from me
Pd you are a faggot

>> No.6678168

>>6677720
And subsequently, Apple just brought billions of dollars back from overseas to be taxed.

Also, got my first paycheck today on the new plan, like I got a nice 5% pay bump.

>> No.6678185
File: 27 KB, 399x385, l04he.jpg [View same] [iqdb] [saucenao] [google]
6678185

>>6678160
>untill the market goes up to at least 10 trillion

>> No.6678192

Do you have to do this even if you don't cash out? What if you're a poorfag??

>> No.6678208

>>6677815
Nigga what the fuck is NL? Fukken pajeet tier ass lil bitch country

>> No.6678216

>>6678096
Does this also include daytrading BTC to fiat at GDAX, and not depositing that cash into your bank account?

>> No.6678217

>>6678011
Do people really think the IRS isn't used to people trading a shitload on real money exchanges? They don't expect us to hand write every fake money exchange either.

>> No.6678269
File: 1.71 MB, 448x487, 1504778277562.gif [View same] [iqdb] [saucenao] [google]
6678269

>>6678185
>implying it wont

>> No.6678361

>>6678208
North Loo

>> No.6678397
File: 668 KB, 709x462, DA9212E8-ADD0-4976-B1C2-8AB2D3BD8EBF.png [View same] [iqdb] [saucenao] [google]
6678397

>>6678185
Conservatively

>> No.6678621

>>6678217
You've never been audited.
No, they don't expect you to hand write it.
You can make your own version of 8949 in Excel and print it out instead.

>> No.6678675

>>6678096
Every time you sell a coin, you owe tax for that year.
It doesn't matter whether or not you take the cash out of the exchange.

>> No.6678822

Why don't you sell the coins to each other for cash? What's the problem, I don't get it. Why pay almost 50% in taxes for cashing out through the bank accounts?

>> No.6678837
File: 118 KB, 500x312, you-lose-good-day-sir-i-said-good-day.jpg [View same] [iqdb] [saucenao] [google]
6678837

i don't care who says that "every trade is a taxable event". I'm only going to pay tax on what i cash out in fiat when i decide to do so. and that's only so they can shut the fuck up anyway.

i don't care if some neet says "NO you're doing it WRONG"

I don't care.
I have have no realized gains.
Then i'm not paying any taxes at all.

paper gains are not real yet.
so they will not get a thing until it becomes a thing and that's how it's going to be.

Good Day sir!

>> No.6678904
File: 42 KB, 498x509, CuQvVQ_XEAEkIrS.jpg [View same] [iqdb] [saucenao] [google]
6678904

>>6677593

MFW my country's law explicitly says you only owe taxes when you cash out to local fiat and there's no jewish one year rule.

Get REKT, burgers.

>> No.6678979

>>6677593
>>6677890
>>6678011
>>6678096
>>6678216
>>6678837
Protip: cointracking.info
Enter API keys and voilá.

>> No.6679009
File: 68 KB, 1280x720, maxresdefault.jpg [View same] [iqdb] [saucenao] [google]
6679009

>>6678051
>"You'll be getting the real thing up your ass eventually."

>> No.6679027

>>6678011
Don't even try anon. Let the stupid help themselves.

>> No.6679046

>>6678675
so if I sell xlm for btc, how much of the btc do i have to send to the government?

>> No.6679063

>>6678011
>exchange loses your trades
>you're fucked
KEK

>> No.6679157

>>6679046
also, the exchange records all of the transactions, but how do i know the usd value of each of the transaction pair at the moment I traded? is this recorded or do I have to look at historical graphs and figure it out for each trade manually? also do you niggers really live like this bahahaha

>> No.6679169

>>6677593
THANKS TRUMP

>> No.6679195

Force the argument on this topic to making it so the IRS has to target the creators of the coins. If they cant make the people who created the coins and own huge amounts of those coins pay taxes on those coins then then nobody else should either.

Any situations where there are pre mined coins. ICOs or anything where the creators have profited for making the coins are a good start. Also any forks as well, If I remember correctly the creators of Bitcoin Gold had a bunch of hose premined.

Then once we have that figured out and memed properly the next will be to muddy the waters on what the difference is for all digital assets as well.

>> No.6679207

YOU DUMB KEKED FAGGOT

I HAVE AN IDEA, DON"T PAY

IF YOU DO, 5% of YOUR PROFITS AND CALL IT A DAY

>thinking they are gonna come after small fry crypto traders

>FAGGOT

>> No.6679226

>>6678160
Wow excellent strategy sir

>> No.6679403

>>6678837
This is how I THINK it should work so I don't care what the law says so I'm going to announce to the internet that I'm knowingly going to commit tax evasion

Well played anon, I'm sure it'll all work out just fine

>> No.6679475

Cointracking.info

>> No.6679483

>>6679157
Go to investing.com. Download BTC/USD daily history. Import into the same excel spreadsheet as your trades. Do a VLookup

>> No.6679508

>>6679403
Seriously, if the IRS said we needed to generate realistic unicorns people like you would be calling anyone not putting effort into bio engineering real world unicorns are lazy.

Face it fucker, the IRS fucked up on this and it doesn't matter what the law says. Its completely insane and its not going to be enforced.

>> No.6679513

Realistically no one should pay taxes unless they owe $100k+

The government will pester you for any value less than this but they won't really pursue it if you keep them hanging.

>> No.6679555

>>6678216
Yes it is cash in gdax. Whether you withdraw is irrelevant.

>> No.6679561

>>6678208
netherlands.

>> No.6679575

>>6679403
Wrong. That's not how i think it should work.

We should not have to pay shit.

That's how i think it should work.

Good Day sir!

>> No.6679596

>>6679483
>Oh its super easy to do!

Ok, anon care to share your document with us? I would love to see how you pulled this off so eloquently.

>> No.6679660

>>6679483
Day traders are fucked. Bot traders are fucked beyond any measure.

>> No.6679682

>>6678361
AHAHAHAHAHHAHAHAHAHA

>> No.6679720

>>6679596
Gdax
Cash 5000
Buy eth 5k is my basis

Transfer to binance
Buy Link for eth, 2018 taxable event no 1

Sell link for eth, 2018 taxable event no 2

Transfer to gdax
Sell eth, taxable event no 3
Sold for 8k

8k minus 5k is 3k.
Be damn sure your tax totals of events 1, 2, and 3 total 3k. Beyond that just estimate.

>> No.6679732

>>6677815
dude, you literally have to pay 5% of the gains of each trade + 1.2% of all your wealth each year.

t. former German now living in NL

>> No.6679765

>>6678011
>Doesn't have fiat value
OH NO NO NO

>> No.6679807

>>6679720
would you be willing to assist a financially illiterate NEET in the near future? Willing to pay quite handsomely

>> No.6679858

>>6679720
I wanna see the spread sheets that these IRS shills are putting together so easily. Lets see them guys. Come on. Put up a link!

Come on guys its super easy right. Lets see it. Its all on public ledger anyway right!

>> No.6679867

>>6678096
THIS MAN HERE IS GOING TO JAIL

>> No.6679893

>>6678979
How do this on kucoin? I'm not seeing anyway to find the API keys

>> No.6679952

How the fuck are we supposed to track trades when exchange data is only recorded in satoshis? Do we have to look up the price of BTC at the moment of every trade?

>> No.6679987

>>6679732
> 5% of each gain

Nope

> 1,2% yearly wealth tax

That is correct but you don't pay over any capital gains nor do you have to fill those out on a tax form. T. Tax lawyer

>> No.6680040

>>6679807
Why not just learn it?
Financial and tax literacy will make you a better investor.

>> No.6680053

Faggot gay bitch cock queers listen.
It’s crypto. Do not pay your ucking taxes you kike law abiding cunts. You don’t have money. Pay the fuckin taxes on your job. Start an eBay store, write shit off, do your own fucking taxes. Stop bitching about this gay fud shit the government has no right to your goddamn income and it says so in the constitution..... that was amended but they are kike cunts who stole land from the natives.


Man up and fucking create wealth and dodge bullets bitches.

>> No.6680061
File: 39 KB, 884x792, 1528555_702872663091260_1929472496_n.jpg [View same] [iqdb] [saucenao] [google]
6680061

Apparently i sold 2 ETH on Kraken acccording to CoinTracking. How do i fix this? I never sold ETH on Kraken nor do i have Kraken account. Fuck this faggot tax shit.

>> No.6680174

lmao this is why NEETs shouldn’t invest in anything

>> No.6680182

>>6679858
It was already posted but cointracking and bitcoin.tax are great. You upload your apis and they calculate it all automatically. They find the usd value and all. I’ve been on 4 separate exchanges and had zero problem.

>> No.6680187

>>6679952
You just need a close estimate. You don't need exact moments of price. Important is getting the loss and gain right. Honestly you should know this already. After all how do you know if you are making money?

Keep in mind why the IRS is doing what they are. They don't want someone hiding money. They also don't have the data on crypto trades. If thousands of people submit lots of transactions then next year they may simplify rules.

>> No.6680197

>>6680040
I learn best by watching others and reverse engineering

>> No.6680235

>>6680197
Then get a 1040 pdf form and the 1040 pdf instructions. Read every line. Do the same for a schedule D.

>> No.6680261

>>6680197
t. brainlet

>> No.6680289

>>6677593

>paying taxes

Why not handcuff yourself and eat dogfood in your basement as your own prison guard while you're at it.

>> No.6680412

>>6680235
does it matter that my coins were worth 70k on December 31st and now just 3 weeks into 2018 they are worth over 500k?

>> No.6680599

>>6680412
No friend, you pay taxes on what you had on dec 31 2017. You got lucky too, paying taxes on 500k would have almost surely made you sell a big chunk just to pay that. Congrats on that gain though.

>> No.6680647

>>6677593
Serious question. If I have less than 20k across a bunch of shitcoins will the IRS know/care?

>> No.6680710

>>6680599
what's to stop someone who 10x'd their stack in December to fudging their transactions such that their gains didn't occur until the next year?

I think we all know that the IRS is not going to subpoena Binance or some other chink exchange, let alone actually pay someone to parse hundreds of transactions for a single tax payer.

and thank you

>> No.6680745

>>6680647
>i also have to pay taxes on mining
how in gods name am I going to keep track of all the little worthless shits I've mined?
fuck this shit ill just pay taxes when I cash out and hope exporting it from the exchange handles it for me. If the kikes really want my money they can just ask the NSA for how much I have in crypto.

>> No.6680878

>>6677593

immediately anonymize all your coins using monero everytime you buy with fiat, you cuck
trade with an offshore exchange like binance or decentralized exchange like openledger

>> No.6681021

>>6679893
Login > settings > API keys > click 'create'

However last I heard KuCoin didn't have read-only keys (only all access) so use at your own peril.

>> No.6681040

>>6680182
>It was already posted but cointracking and bitcoin.tax are great.

Super great huh

Lets see your awesome spreadsheet then. Cmon show us all how easy it was to set everything up for a couple thousand transactions on multiple exchanges and wallets with various different coins.

I would love to see examples!

>> No.6681071

God damn I hate my country.
At least it's simple.
33% flat.

>> No.6681101

>>6681071
>government just takes 1/3 of your money
the fuck world do we live in where there is so much communistic bullshit like this

>> No.6681173

0.4 out of 100 people here will be audited. Even less if you're a neet.

>> No.6681188

>>6680878
>day finally comes where you cash out


>Hmmmm anon care to explain where this $400,000 is coming from ? You wouldn't happen to have been investing in crypto without telling would you? You can be charged for tax evasion if that is the case.

>Go to prison get ass raped

Yeah good one anon

>> No.6681272

>>6681188

Cool FU, 0.001% of americans go to jail for tax evasion. 99.999% of audits will ask you to send in additional documentation and they leave you alone. They don't have the manpower to go through thousands of trades unless you're a highroller who has 6-7 digits of crypto.

>> No.6681304

>>6681272
FUD*

>> No.6681328

>>6677593
You don't actually have to do this this you cuck.

>> No.6681494

>>6681040
Wow you’re so butthurt. Pro tip for life, being passive aggressive does nothing but make you look like a goddamn weak minded fool that’s afraid to speak his mind. Go to https://cointracking.info.. On their home page they even have a link so you can do a live demo.

>>6680710
Nothing is stopping you. The problem comes whenever you decide to cash out, they’ll want to know where the money came from and want detailed records. You have a lot of people saying the irs won’t look at you if you have under 20k or 100k, it’s possible you can get away with it. But if you’re one of the unlucky crypto traders that gets a full audit, you’ll be wishing you were truthful on everything.
It’s a risk I’m not willing to take, but do as you wish.

>> No.6681496

Where are these fuckers that keep claiming this shit is super simple to do all of a sudden? Come on anon's you claim this is possible and super easy lets see some working examples. Your shit is all on the public blockchain anyway.

Lets see some spread sheet magic you fucking lying shills. I would love to see how you did it!

>> No.6681540

>>6681494
>On their home page they even have a link so you can do a live demo.

Awesome! So its super easy huh? That page wouldn't possibly be to dox people though would anon? I mean its super easy to setup and it works super well so lets see your results!

You fucking lying shitbag.

>> No.6681563

>>6681496
You don't report anything and go to jail when they find out.
Easy.

>> No.6681657

>>6681540
You forget your meds kiddo? How about a 2 minute YouTube video they have.
https://youtu.be/NG5t4q0cFRQ
Not wasting anymore time on you, go shill bazingacoin some more.

>> No.6681673

>>6681563
hmm seems to me that its not necisary. Mainly because you have no way to report. If you did then it would be super easy to show your examples.

Are you afraid that we will know you are full of shit and you dont actually own any crypto and you are just shilling right now? So whats your numbers Anon? You paid your taxes already right?

How much did you owe? How many transactions did you do? Do you have at least a screenshot showing what you had to turn in?

Cuz I bet you don't!

>> No.6681701

>>6681188

even if you have to pay tax, by using monero, no one can trace how many transactions you have made, so you can just pay as if you have only made one transaction.

>> No.6681714

>>6681563

You have a better chance of getting tetanus than going to jail for tax evasion. You got your booster recently I hope. Wouldn't want those lungs to close up on you because you were scooping out your cat's litter box.

>> No.6681728

>>6681657
Of course cuz I backed you into a wall. I want to see some numbers. I want to see your working example of what exactly YOU personally did. We all want to see it actually.

Its your time to shine guys. Lets see it! I mean you ARE telling the truth right?

Right?

>> No.6681742

>>6681540
You can go on Reddit to see examples of people who have used these products. For some it works, for others it's a buggy piece of shit. Are you a pajeet? You type like an angry 3rd worlder.

Regardless, if you're not a day trader and actually invest, this wouldn't be too hard to keep track of on an Excel document, as long as you don't let unlogged transactions pile up.

>> No.6681766

>>6677593
That's what you get for being a stupid American fuck. Enjoy your shitty delusional free world country you cunt. Don't get shot on the streets MURICA

>> No.6681803
File: 30 KB, 200x200, 881e882c26d336a49fb52e1aab898075066bab88c08b4191701da3936109be19.jpg [View same] [iqdb] [saucenao] [google]
6681803

I wrote a bot, it traded 1.4 million times.

>> No.6681842
File: 26 KB, 400x400, 02a2619e1ce8c9c95682cfd3b5c4eb0b_400x400.jpg [View same] [iqdb] [saucenao] [google]
6681842

>>6681803

Send it to them in boxes. On the final page, write "are you not entertained?"

>> No.6681843

>>6681803
God help you and good luck. Were the gains worth it? I’ve heard from many bots are like a money printing machine in crypto.

>> No.6681885

>>6681742
>You can go on Reddit to see examples of people who have used these products.

Ok, so you REALLY want me to use your product huh. I get it. Its a product you think is super amazing. And I can "educate myself" by going to reddit huh.

> Regardless, if you're not a day trader and actually invest, this wouldn't be too hard to keep track of on an Excel document, as long as you don't let unlogged transactions pile up.

Oh so what should day traders do then? Are day traders just fucked then? I thought your product was super amazing! It handles day traders and people who do tons of transactions as well right? I mean it seems an awful lot like you don't personally have faith in your product all of a sudden.

I guess you are also admitting you are not a day trader as well right? I mean you seem pretty comfortable with this product.

FUCK!! You mean this whole fucking time it wasnt the IRS it was people shilling some shitty program trying to tell us all we are going to jail if we dont buy their shit? LOL

You motherfuckers fuck you!!

>> No.6681943

>>6681843
It did alright, laughed my ass off when I saw the history csv was 380mb. Calling an accountant soon.

>> No.6681970

This whole fucking time these threads turned out to be people shilling for some shitty tax software trying to make us feel like we are going to jail. Notice how they point us to their products so quickly!

Why the fuck didn't I realize this sooner lol

>> No.6681995

>>6677593
land of the free, my man.

>> No.6682015

How much does coin track charge to use its service? OMFG!! So so Cointracking is hiring shills I guess. They must be making a ton of money shilling their shit on here too!!

"YOU GOIN TO JAIL ANON!!" HAHAHA

>> No.6682024

>>6678208

>Burger detected

>> No.6682090

Cross explains it for you faggots if you just read between the lines.

>If you have lost these records it is up to the taxpayer to recreate them to the best of their ability.

Meaning, I DONT FUCKING KNOW HOW MANY TRADES I MADE BUT THIS WAS MY EARNINGS PLS TAX ME THX BYENAO

>> No.6682126

you sat on your ass and made 100's of thousands
now you will sit on your ass a tiiiiiiny bit longer to keep most of it
even if you are an active trader you can still get it done in a weekend, stop bitching christ

>> No.6682130

>>6678168
Money from overseas no longer gets taxed, retard.

>> No.6682131

help me understand. why dont you just cash out in another/new bank account and not tell the government about this bank account?

>> No.6682153

So basically, the US and other Taxed Countries for crypto raised the entire crypto market by hundreds of billions by pumping it all the way until December, then crashed the fuck out of early January. Does anyone else see what they did? If you did not cash out your gains on December 31st. you lost double your money. Half when the market crashed and the other on the taxes on your gains. When the clock struck midnight on December 31st I was 30k in gains on 10k worth of investments for the year only having gotten into crypto 4 months ago. Then the market crashed and now I am up 8k on that same 10k investment. How the fuck to I owe 10k in taxes on a 10k investment!? I mean I get it, but at the same time, the tax cut off on December 31st is a scam! They pumped the price then drop it the week after the cut off!? So even though I am 8k in profits I owe 10k in taxes which puts me at a loss of 2k for last year even though I ended the year plus 30k.

>> No.6682168

>>6678160
>Where the government doesn't leech off people
Literally nowhere
>I'd rather go to jail than let those Jews get a penny
Where do you think all your money will go 9nce you're in jail? Dumb nigger.

>> No.6682172

>>6682126
> Our tax software is super important. Go to coin tracker and spend your money on our product. Its super easy. If you dont you are going to fucking instantly.

> Cointracker.com, the only way to not get fucked by the IRS.

>> No.6682210

>>6682131

because the bank account tells the government about your money, otherwise they lose accreditation

>>6682172

what? just grab your records and transcribe them, or pay some asshole to do it

what the fuck is the problem?

>> No.6682211

>>6679765
>OH NO NO NO
kek

>> No.6682303

so basically you faggots thought that you could get away with this shit without even a tiny bit of tedious bitchwork?

jesus, just wait until you actually mature and maybe start a business with employees

good fucking luck to you then

>> No.6682310
File: 200 KB, 620x387, comfy.png [View same] [iqdb] [saucenao] [google]
6682310

>>6677593
Huefag here with Portuguese citizenship here. Was already making my plans to move out of my shithole country to Portugal next year.
Then, the day before yesterday, Portugal announces that it will NOT be taxing cryptocurrency gains. Feeling comfy as fuck now. Moving there for sure.
https://www.publico.pt/2018/01/17/tecnologia/noticia/ganhos-com-bitcoins-nao-pagam-imposto-em-portugal-1799707

American laws about this are ultra convoluted though, what the fuck.

>> No.6682319

>>6681540
>Tell me how it's done!
>[Tells him how it's done]
>Sh-Show me an example then!
>"Go [here], you can even demo it yourself to see exactly how it's done."
>Y-y-you're j-j-just trying to d-d-dox me!

>> No.6682352

>>6682153
Just setup an account with cointracker.com man. Its the best solution for all of these problems. Its super easy and it makes it so you cant go to jail! Everything is going to be ok as long as you go to cointracker.com goy.

I mean this entire fucking thread was shilling cointracker.com. I dont even think the fucking IRS gives a shit as much about your taxes as a bunch of private entities that want to FUD you into using their shitty software anon. Just think about it.

The IRS doesn't give a shit about literally any other digital asset in the history of digital assets until you cash out into fiat.

But we have a bunch of clowns on this board shilling their software. And the more they FUD you the more likely you will be to go to cointracker.com.

Maybe I am typing like an idiot right now and rambling a bit. But I think this is actually what is happening right now. Any anons on here please investigate further.

I am almost positive right now the FUD on here is coming from places like cointracker. I feel it in my gut.

>> No.6682358

>>6682210
>because the bank account tells the government about your money, otherwise they lose accreditation
thats pretty fucked up

>> No.6682378

>>6682153
Taxes aren’t due til April. It’s a volatile market, take profits for taxes when you can. Time is on your side here.

>> No.6682387

>>6679575
>Reddit spacing and ytmnd memes
What the fuck is going on here? You're two generations of faggot in one.

>> No.6682475

>>6678979
Look at this awesome protip guys! Problem solved!

>> No.6682566

That one guy in this thread is seriously off his meds. If you NEETs knew anything about investing you would know that taxes are probably the #2 consideration (after trading fees). Sorry you weren’t keeping up with anything all year. As another guy said, how do you even know you’re making money?!

>> No.6682621

>>6679063
exchange loses your trades then shit didn't even happen nigger

>> No.6682705

>>6682566
They should totally use your service though. And there is totally no argument here. I mean you are 100% sure "that one guy is off his meds" and there is zero doubt that private tax software companies wouldn't be interested in convincing people on 4chan that if they don't track every single transaction they are instantly going to jail and getting butt raped. I mean you are 100% sure there is no possible slight chain in hell this is fud from private entities. Even though there has never been a case where even in games like second life where the IRS came after a player for owning millions of dollars of digital realestate until they decided to cash out. Even in those cases they had to cash out before the IRS gave a shit.

Admit it, this thread is a shill job by your cointrack service. And these threads are FUD to scare people into using it.

>> No.6682732

>>6678837
if every trade is a taxable event I would owe that scumbag irs a million dollars.

>> No.6682745

>>6677593
Make a few million and you won't have to pay taxes. Rich people don't pay taxes.

>> No.6682854

Is it true you're supposed to pay CGT in quarterly payments? I've been waiting until April to pay my 2017 taxes.

>> No.6682875

>>6682732
Correct me if I'm wrong but I think it's only the revenue that gets taxed, not the trade.
No big deal, but the real fun part is the fees that get calculated.
So yeah, not ideal. It's an accounting nightmare unless you can run it through a script.

>> No.6683481

>>6678127
True, if you're on an exchange with shit liquidity the price would end up much lower

>> No.6683659

>wait until you need to cash out
>put your money through Monero to remove trade history
>find a coin that made gains that are similar to what you started at to where you are now
>"I only held this one coin, I did not make extra trades"
>cash out

Optional:

>wait for a full year before cashing out if your country has one of those 'wait a full year for reduced taxes' clauses

>> No.6683880

>>6678208
holy fuck, youre the singularity of black people

>> No.6684190

How the hell do I report scam coins to the IRS?

>bought ETH
>used that ETH to buy GOLDC
>GOLDC ico finished, got coins
>GOLDC website and wallet 404, everyone was scammed
>GOLDC has no value anymore since GOLDC no longer exists

How do I prove this to the IRS so I can put this as a loss of value?

>> No.6684265

>>6684190
Print off a pink wojak as an attachment.

>> No.6684367

The reality is, every crypto to crypto trade is considered a taxable event, period. Always has been since in the eyes of the IRS cryptos are not currency’s, they are properties. They have never qualified for like-kind exemptions either. The IRS is going to have an extremely difficult job enforcing compliance on this, i would expect them to throw the book at a couple of whales to try and scare everyone into complying, but i doubt they will actively pursue poorfags. Doesn’t mean they won’t.

>> No.6684413

I went in with 5000, plan to cash out the 5k and hold the rest long term. Will i get taxed?

>> No.6684539

>>6684367
jesus, atleast in america there is such thing as tax court. No jury in their right mind is going to charge you more than you made. And if the IRS was really being that belligerent to a whale, the whale would just take the case to his local court of appeals, and no IRS worker wants that.