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/biz/ - Business & Finance

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8402202 No.8402202 [Reply] [Original]

After seeing so many boards about taxes I decided to look it up myself.

https://www.irs.gov/newsroom/capital-gains-and-losses-10-helpful-facts-to-know

Why the fuck is literally anyone concerned about anything? If you lost money, the IRS pays you up to 3k

>> No.8402313

Fuck the guvbemint i Will Neverland pay taxes Good luck making me

>> No.8402333

>>8402313
but they will pay you if you lost money anon. Do you not like money?

>> No.8402354

Losses in 2018 cannot be used to offset Gains in 2017.

>> No.8402384

>>8402354
factually wrong.

>> No.8402410

>>8402354
this board is completely fucking useless. in all these stupid threads, I've never once seen any of you mention "fiscal year"

its so easy to tell that 99% of /biz has no real business experience

you fuckers need employers, you are never going to make it

>> No.8402420
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8402420

>>8402354
I only started trading in January and I'm down 1.3K from 3.5K initially invested so I'm golden right?

>> No.8402432
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8402432

>>8402202
>the irs pays you 3k

HAHAHAHAHAHAAAAAA
It’s amazing how many of you brainlets are going to get fucked in the ass with fines fees interest and still owe backtaxes.

>> No.8402464

>>8402420
Also have "0 income" so I'm in the lowest tax bracket because all my real money is tied up in a trust but 1.3k is still a large sum to me.

>> No.8402480

Anyone who had over 50k on an exchange at the end of the year has to file a FACTA or face up to 50,000$ in fines.

>> No.8402504

>>8402480
to be honest senpai I'm only really concerned about myself. Also most people on this board haven't put in anywhere near that much

>> No.8402604

>>8402464
You’re fine dude, if you started in 2018 you won’t owe anything for 2017. Sorry you’re at a loss but the year may be a good one for you if you hold.

>>8402480
I was under the impression FACTA didn’t apply to crypto. I can be wrong. I did file FBAR in case they consider Binance to be an offshore trading account though. For FBAR it’s 10k

>> No.8402644

>>8402604
the IRS released guidance that FBAR is not applicable to crypto
however they did NOT release any guidance on FACTA

>> No.8402676
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8402676

>He doesnt use localbtc

>> No.8402963

>>8402604
Thanks for genuine response

>>8402676 im a 170lb 6ft manlet I don't want to get stabbed for 600 USD