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29838076 No.29838076 [Reply] [Original]

>EVERY TRADE IS A TAXABLE EVENT

>> No.29838162

”Sir, every transaction I did, produced a loss, due to transaction fees”

>> No.29838211

Why are basedmericans like this?

>> No.29838233
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29838233

>I PAY CAPITAL GAINS TAX FLIPPING UNTRACEABLE SHITCOINS ON UNISWAP

>> No.29838284

>>29838211
The amerimutts love to cuck themselves and donate extra money like true goy

>> No.29838289 [DELETED] 

>>29838233
Lmfao
Is anyone actually that cucked?

>> No.29838373

>>29838076
I forgot to pay capital gains taxes.... for the last 6 years. Ama

>> No.29838441
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29838441

>>29838289
You'd be surprised, thousands are that cucked

>> No.29838444
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29838444

>>29838076
>Decided to tether up right before last weeks crash
>payed a TWO THOUSAND DOLLAR FEE on goybase
>Created a taxable event so now the government can rape me more
I hate this country so much

>> No.29838560

>>29838444
It's the price we for muh freedoms or some gay shit like that

>> No.29838606
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29838606

>>29838444
I'm glad I don't live in the US, in my country there's a 0% chance you'd get taxed for tethering up or flipping shitcoins on DEXs like Uniswap

>> No.29838620

>paying any taxes at all for internet magic memecoins

I thought the US was the land of the free? USbros??

>> No.29838728

I drank way too much onions milk as a kid. I didn't know it was bad for me. What can I do to mitigate the damage?

>> No.29838736

ITT thread full of shills who want you NAZIZ to go to jail and not gain wealth from crypto.
pay your taxes.

>> No.29838778

Here in Hungary, you (would) have to pay 33% of your income from crypto as tax, but actually, there's not a single regulation on crypto.

>> No.29838786 [DELETED] 

>>29838736
Ok glownigger

>> No.29838836
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29838836

>>29838728

>> No.29838838

>>29838233
>untraceable
yikes

>> No.29838852

>>29838786
>attempt to discredit [1]
yeah, I'm sure that the FBI wants dissidents not to give them a reason to jail them.

>> No.29838867

>>29838620
Hasn't been for a long long time. It is now in control of the Authoritarian and Totalitarian Communists. The Republic of the United States of America is a dying country akin to the ancient Roman Republic. We are in Weimar 2.0, or what I like to call Weimarica. Things only get worse from here on out.

>> No.29838890
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29838890

>>29838560
>>29838606
How does one take a country that mutilates baby penises seriously?

>> No.29838958

>>29838890
They shouldn't

>> No.29838985
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29838985

>>29838373
This is irrelevant if you don't tell us whether you cashed out and for how much.

>> No.29839061

>>29838728
Eat lean meat and other sources of protein
>>29838736
Go pay your taxes on Uniswap transactions nigger only actual cucks do that shit
>>29838778
Kinda similar in Italy, it's a grey area and it'd be extremely gay to pay taxes on etherscan transactions
>>29838838
Pay capital gains taxes on your shitcoins trade faggot, that's what you get for living in the US

>> No.29839095 [DELETED] 

>>29838838
Government boomers don't know their ass from their thumb

>> No.29839171
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29839171

>Have you sold or traded any cryptocurrencies in the last year?
>*No*
heheeehhehehhheeheheheeehehehehee

>> No.29839281
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29839281

>You made money staking some uniswap shitcoin made by Pajeet in his Bangladore hut???
>Better pay up, you don't want to mess with the tax man, bro

>> No.29839316

>>29838444
Bet you didnt even use cbase pro did you? You know they also goose the number when you buy then suppress it when you sell , right? Its like you were asking to be fucked.

>> No.29839390

>>29838838
hello irs

>> No.29839501

>>29839281
Kek

>> No.29839598

>>29839095
the chainalysis forensic teams they hire sure do

>> No.29839603

>>29838728
Go buy a home gym and immediately start pumping iron as hard as you can while you have pantera blasting through your speakers. Then go take a shirtless run somewhere. Then go home and jerk off to only blonde girls.
If you do all of that you will be ok

>> No.29839751

>>29838373
>imagine ever paying taxes

>> No.29839761

>>29839603
Based. Avoid the ebonys, only jerk off to the blondies

>> No.29839795 [DELETED] 

>>29839598
Nah. Suck a cock, cuck

>> No.29839800

>>29838441
fucking cringe

>> No.29839871

The more they do this greedy shit the more I expect Monero to grow.

>> No.29839883

>>29838162
this

>> No.29839905
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29839905

>idiots didn't know about taxes before they started larping as a crypto daytrader
Sucks for you, I knew about this shit from the start because I'm not a 16 year old gambling with my mcdonalds wages. All you had to do was buy and hold. I've never sold ANY crypto I've bought, and never done any trade that wasn't $ > intermediary > shitcoin all on the same day so no meaningful taxes could be generated.

In fact I will NEVER EVER pay taxes on my crypto gains because I will never realize them. I'll just get an ELOC backed by my crypto or in Chainlink's case, staking fees for passive income. And that's entirely legal.

>> No.29839954
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29839954

>>29839795
You're retarded.

>> No.29839962
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29839962

>>29839095
>>29839390
*blocks your gains*

>> No.29839980 [DELETED] 

>>29839905
You only pay when you realize to fiat and withdraw to bank account. Anything else is purely cucked. Maybe 0.01% of Crypto to crypto trades are actually taxed at the end of the day because no one is actually cucked enough to report dex trades. In reality, 99.9% only pay when they cash out to USD.

>> No.29840178

>>29838441
Are people actually going to pay for realizing by swapping from regular tokens to atokens for example?

>> No.29840201

>>29838890
>Within the first month
Do people get circumcised after that?

>> No.29840253
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29840253

>>29839954
That's a man

>> No.29840293

>>29839962
I’m scared they will use shit like this plus chainanal to backtrack

>> No.29840365

>>29840253
Hopefully...it's my husband. Retard.

>> No.29840382

>>29839980
https://cointelegraph.com/news/chainalysis-and-texas-firm-win-million-dollar-irs-contract-to-crack-monero

it's only a matter of time before the IRS puts out a bounty for analysing DEX trades and subpoenas all fiat onramps for transaction records

>> No.29840509

>>29838076
LOL at newbs, can't wait to see the pink wojacks come audit season, which will probably be the same time as the top so all these newbs will lose all their gains and still owe taxes. LOL!

>> No.29840533

Will Binance rat me out if I don't pay my taxes?

>> No.29840537

do i have to pay taxes if i cashed out less then a few k on coinbase? or sent eth out from it

>> No.29840555
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29840555

SHUM nufags

>> No.29840613

you can tell who's poor as shit by wjetjer or not they understand taxes

>> No.29840628

>>29840533
i fully expect CZ to start sucking USG ZOG cock because he doesn't want to end up like Arthur/bitmex

>> No.29840667

>>29840628
they already work with chainalysis, who is obviously feeding everything directly to the tax authorities.

>> No.29840689

Good thing about being turd worlder is that our IRS are composed of monkeys who can't track shit.

>> No.29841100

>muh chain anal cysts! the IRS is going to track all my non-KYC'd on-chain transactions!!!
No they're fucking not, faggots. You have no fucking clue how incompetent and understaffed the IRS is. They're not going to do shit about you flipping shitcoins on uniswap.

I swear to god all these "the IRS is omniscient and they'll bust down your door and rape you!" posts are just glownigger shills. A lot easier to pay some monkey to spout some doomer FUD to scare brainlets into reporting everything than it is to actually bother tracking down dodgers.

And guess what? Worst case scenario and they somehow do bother piecing together your transaction history, you just pay the back taxes. Not the fucking end of the world. Considering how infinitesimally small that risk even is, it's well worth taking. Get fucked.

>> No.29841116

>>29838441
>>29840178
I need to carry forward my capital loss lol

>> No.29841194

>>29841100
seriously, what's stopping them getting subpoenas from fiat onramps for transaction records and then hiring palantir/chainanalysis to do their dirty work?

>> No.29841218

>>29840201
Yeah some do. I think it's limited to people who have a foreskin problem (phimosis) that they let get so bad it becomes a real medical problem and converts to judaism. It's an extremely small number compared to infant circumcisions of course.

>> No.29841293

>>29840537
Yes
>>29841100
They audited me for cashing out $100 and not reporting it. You're a moron.

>> No.29841332

yeah that's why I have a 60 page 1099

>> No.29841331

>>29841194
Yeah, and what's stopping the IRS from tailing you in unmarked vans to catch you in the act of mowing people's lawns for cash and not reporting your income?

The idea that they're omniscient and actually going to go through the effort of tracking down every last normie is laughable.

>> No.29841345

>>29838728
carnivore for a time

>> No.29841435

>>29841194
As a federal acquisitions professional, the contracting process for that would be a huge pain in the ass and since it wouldn't fit into the current org structure the IRS has, it'll be a huge bureaucratic fight to get such a department stood up to go after what is ultimately small peanuts. It might go faster if you could target political enemies like they were doing with charities Obama didn't like, but the sheer number of false positives you'd have to deal with (because crypto is by nature international) and the complexity of explaining this shit to a judge and jury, actually winning court cases would be exceptionally rare and more costly than it's worth to get 40% tax collection on a mere million $ crypto gain.

>> No.29841438

>>29840201
a friend of mine got "semi circumcised" at age 19. i think he only had a bit of the "string" that connects the head to the shaft adjusted. He told me he couldnt fap because his foreskin was too tight

>> No.29841464

>>29841100
you know that all of this is automated you mongoloid because you can easily get on chain data
nobody is manually looking through your etherscan manuall you double digit IQ mouthbreather

>> No.29841594

so if i used a cex like cuck base and cash out a few k i have to report it on turbojew and tick yes i traded? i don’t mind but how do i jew this not to leave a paper trail for the eth i sent out to defi

>> No.29841654

>>29841100
how new are you

>> No.29841666

>>29841464
>>29841654

show me a single instance of someone getting fucked for not reporting tax on DEX swaps

>> No.29841670

>>29841435
>the sheer number of false positives you'd have to deal with
false positives? if you make a dex trade it's clearly visible on the chain

the political will is there, dems fucking hate crypto as it's a challenge against state power

>> No.29841784

>>29841666
dexes weren't big in the last 2011, 2013, or 2017. But I guarnatee you they are looking at those trades now with the volume uniswap and the rest have been pulling. You seem like a child that doesn't understand how the world works, you need to be 18+ to post here so fuck off kid,

>> No.29841833

>>29841784
you could've just said "no, I can't".
Keep living and fear. Imagine unironically reporting dex swaps.

>> No.29841886

>>29838076
Every trade on a platform you’ve kyc’ed is. Otherwise just do money in and money out.

>> No.29841902

every trade being a taxable event can be a good thing if you ever made a bad trade, i.e. a loss. but i'm sure none of you have ever had a loss of course :^)

>> No.29841931

>>29841833
it's not a matter of "if", it's a matter of "when". remember that the IRS has a 10 year statue of limitations for collections so they could come back and demand you pay tax for your dex trades in 10 years time

>> No.29841942
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29841942

>>29840555
>taxes

>> No.29842035

>>29841594
It's really not that complicated.
>did you buy or sell or trade crypto this year
Tick the yes box.
>did you sell crypto for fiat
if yes
>did you hold it for 366 days first
yes: pay long term capital gains tax (maximum 23.4%). no: pay normal income tax on the gain
>did you do a crypto1 - crypto2 trade
if yes
>did crypto1 appreciate in value between when you originally acquired it and when you traded it for crypto2 (all measurements of "value" in USD)
yes: pay taxes on that appreciation using the above rules for long term capital gains tax vs regular income tax. no: it doesn't count as a gain so there's no tax (however it might count as a loss and you should talk to a tax accountant about that

If, like me, your only crypto-crypto trades were essentially buying ethereum on a CEX then immediately swapping it for a shitcoin on uniswap, then there's basically no gain in the 20 minutes it took to do the trades so you don't have to pay taxes on it. If you're a retard who swing trades between USDT and crypto on a CEX, yeah you're going to get raped by the tax man but the CEX should give you the form with all your trades anyway so it's fine. If you do a lot of swaps on uniswap there are tools that will generate a form for you.

>> No.29842059

>>29838162
Hello fellow comma retard.

>> No.29842061

>>29841931
It's not going to happen. They're relying on rubes such as yourself shitting their pants and reporting every little transaction for fear of the all-powerful IRS ass-raping you.
The likelihood of actually getting fucked over this is rare. And worst case scenario, you just pay your back tax.

>> No.29842088

>>29841833
you're a fool if you think the IRS isn't catching up to dex swapping. that said if your proceeds are like $1000 it probably doesn't matter

>> No.29842099
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29842099

>>29838373
This I lost my taxes in boating accident

Sad day

Maybe next year,((( Sammy)))

>> No.29842125

I don’t pay taxes converting USD into rupees to go fuck some Najeet chick and then exchange back to USD.

Crypto to crypto is just exchanging currency

>> No.29842126

>>29840365
Ok bud, sure it is.

>> No.29842139

>>29842061
>It's not going to happen
you're telling me that within 10 years they won't have bothered to hire people to figure out crypto?
come on

>> No.29842163

>>29838076
How do I even remember all my trades? I don't know how much I lost due to gas fees and how much I lost due to being really bad at this.

>> No.29842164

>>29842139
yeah

>> No.29842211
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29842211

Don't spend more than 15% of your income on investments.

>> No.29842263

>>29841931
there's no statute of limitations if you didn't file or filed fraudulently. this kid is obviously new and doesn't know how distributed ledgers work, just throws his mommy and daddy's money at random ponziswap shitcoins. I really can't wait for this bear market, it'll be great when all these newfags rope.

>> No.29842283
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29842283

>>29840509
Private keys. Seed committed to memory

Go ahead throw me in federal penitentiary.

I’ll take a free vacation . Just work out, read and meditate everyday while my stack explodes

Lock up is a meme, just another Jewish trick

>> No.29842302

Every twetch, handcash ping, etc. is a taxable event and I generate tens of thousands every month. Am I fucked?

>> No.29842344

>>29841670
False positive as in you identify some whale who's swapping tons of shit back and forth on uniswap and you build a huge case against him but when you finally unmask who he is in real life, you discover he's not in the US jurisdiction anyway so now you wasted a ton of effort building a case you can't prosecute. Or you build a case against someone but then ultimately you can't prove who they are so again, wasted effort.

Automation of the process will make it easier to identify potential targets, but actually building a court case against someone will always involve lawyers and lawyers (even government lawyers) are not cheap. Basically if the IRS threatens to sue a crypto trader for taxes right now, if the trader decides to call their bluff and plead not guilty, the entire case will wind up being a net loss for the IRS because the cost of proving to a jury and a judge that you didn't make a mistake with all this technical crypto stuff is basically impossible for anything more complicated than swing trading BTC and USD on a CEX with perfect records and no withdrawals to a private wallet.

>> No.29842350

>>29838162
That actually doesn't matter. Segshitters and mETH heads are so fucked.

>> No.29842359

>>29842035
I logged on Kucoin for the first time in almost a year and my entire trade history vanished, what do?

>> No.29842461

>>29842163
literally everything is on the blockchain and can there are apps that can look at every transactions a wallet ever made and summarize it

holy shit do you newfags even understand what the fuck a blockchain is and how it works?

>> No.29842469

>>29842164
>the IRS won't stick their nose in to something that has a total market cap of over 1 trillion USD

>>29842344
you misunderstand what I'm getting at, they will ask all fiat on ramps for TX records for US citizens, then they feed that in to whatever the fuck they build for chain analysis and then boom, you've got a clear cut case
i'm not saying that the IRS will just randomly look at wallets etc

>> No.29842528

>>29842344
I'm guessing about 99.9999% of shitcoin traders don't know how to stay anonymous

>> No.29842593

>>29842528
besides, uniswap requires js enabled so theyll just use their exploits to deanonymize you even if you're doing everything else right

>> No.29842669
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29842669

>>29842263
kek it's even better then

>>29842528
>try and wash your ETH through tornado.cash
>wallet gets flagged for further manual inspection or you end up on a list
>mfw

>> No.29842677

>>29842461
Stop being an angry cunt it’s why you’re alone

>> No.29842697

>>29842359
If they don't have your history and you didn't keep records (because you honestly thought they did, hint hint) then just make your best guess and pay that, if the IRS disagrees it's on them to prove you owe more. Just make sure you do your calculations in good faith and nobody can prove otherwise.

>>29842139
Figuring out crypto is easy if you're smart. The problem is judges and juries are decidedly NOT smart, so court cases are really costly to prosecute.

>> No.29842716
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29842716

>>29838441
>I gained $10,000 gains on uniswap
>Net profit for the year: $10,000
>A "foreign friend" creates a uni token with a value of $1
>I trade my $10,000 worth of uni holdings to this "foreign friend's wallet" for ~10,000 of his tokens
>My "foreign friend's" token gets rugpulled
>I trade my rugpulled tokens for $1 worth of eth
>Net profit for the year: $1

Problem, IRS?

>> No.29842765

>>29842677
it's true though, fucking newfags don't even know what a distributed ledger is lmfao

>> No.29842772

Friendly reminder: a secondary purpose of subverting BTC and suppressing transaction volume was to make chain analysis FAR easier.

>> No.29842777

>>29842461
I've tried Koinly and some other one and they fuck up in quite a few places. My biggest problems are all the trades I did on IDEX 1.0, they have a legacy CSV download available on Idex 2.0 instead of the api (which doesn't work if you traded on 1.0) and it doesn't log my buy prices properly, meaning I still have to go and tweak every single trade, there's hundreds of the things. Someone will HAVE to verify all this because even the technology that was supposed to make this easy is faulty. Is the IRS gonna pay someone to check every shitcoin traders history?

>> No.29842787

>>29841931
Dont care, I don’t consent. My money my choice, and you’re a huge faggot defending the thieving unaccountable system we have.

Fuck you. Grow a pair and stand for something, but you’re just the embodiment of a weak man so I guess it’s just par for the course, bitch.

>> No.29842815

Isn't just calculating your capital gains by subtracting your cash-out value by input-value the same as calculating trade-by-trade?

>> No.29842873

>>29842716
you pay tax on all swaps even if the coin rugs or dumps

>> No.29842872

>>29842787
i'm just being realistic, you think the fucking system will change? it's only going to get worse

>> No.29842878

>>29838606

0% chance you will get caught is different than 0% chance you would get taxed.

>> No.29842894

>>29838444
checked. It’s the price you pay for funding tranny programs

>> No.29842896

>>29842697
I just pay taxes on what I cash out. I add it to my income and pay relative to my bracket. I know crypto to crypto is taxable but doesn't the final figure more or less balance out? It's more the paperwork aspect of it, not that you end up paying more right?

>> No.29842910

>>29842035
Sounds like a lot of work that I’m not payed to do, so I won’t be doing that. Thanks though.

>> No.29842911

>>29842716
I’d you just don’t pay you get a fine. If they catch pulling this off you go to jail. Just like when you are trading, hedge your risks man.

>> No.29842923

>>29842787
it's not called defending them, it's called being an adult who's in touch with reality and doesn't want to get all their assets seized and wages garnished for life

>> No.29842928

>>29839603
Surprisingly based

>> No.29842970

>>29838867
every one of their moves from here on will be to try to conceal the danger they pose to certain elements of their own society

>> No.29842971

>>29842911
If*

>> No.29842984

>>29842125
This.

>> No.29842996

>>29842469
My point is you're going to generate false positives every step of the way and then still have to explain everything to a jury with a double digit average IQ and a judge who barely knows how to use email. It's not as easy as beep boop Mr Joe Blow controls these wallets and made these trades and now he owes us a million dollars plus interest and fees because he aped into a bunch of scam coins and didn't get rugged until the very end.

Oh, and I forgot to mention, good luck collecting from these guys who either lost their crypto to rug pulls, or who won't give up the private keys and are willing to sit in jail for a decade waiting (all of them claiming to have lost their keys in a boating accident).

>> No.29843001

>>29839905
You missed out on enormous gains by making a few strategic trades

>> No.29843042

>>29839603
utterly based

>> No.29843065

>>29838076

Based Polan only converting to fiat is taxable

>> No.29843072

>>29842283
Yup, fuck them, good luck getting my crypto.

>> No.29843102

>>29838076
Everyone in this thread is dumb as fuck and can't into basic taxes.
Every trade is a taxable event insofar as the dollar value increase of your holdings. If you're American, just take whatever your gross profit was from crypto at the end of the year and treat it as income, that's literally it.

>> No.29843128
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29843128

>>29838233
>>I PAY CAPITAL GAINS TAX FLIPPING UNTRACEABLE SHITCOINS ON UNISWAP
Unless you wash them in monero first, how are they untraceable? I have trades on dexs and non kyc exchanges but I started from coinbase and moved them. Aren't they traceable that way?

>> No.29843177

>>29842984
forex traders and multinational businesses report gains and losses on currency exchange, but yea if you're poor nobody really cares if you pay taxes obviously

>> No.29843192

>>29842996
>good luck collecting from these guys who either lost their crypto to rug pulls
>whoops we're just going to garnish your wages instead

>or who won't give up the private keys and are willing to sit in jail for a decade waiting (all of them claiming to have lost their keys in a boating accident).
yeah I really doubt people are willing to spend a decade in federal prison just so they could dodge some tax for flipping shitcoins

>> No.29843209
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29843209

>RANJEESH AT THE CRA WILL TOTALLY TRACK YOU DOWN FOR THAT $20 YOU MADE SELLING AND BUYING BACK IN

>> No.29843258

>>29842911
>If they catch pulling this off you go to jail
There's nothing illegal in what I described. This is simply how crypto-to-crypto taxes are calculated.
If you buy eth, swing trade, and swap back to eth with $10,000 more eth- you owe taxes on $10,000 of realized gains.
If you then swap $10,001 for a shitcoin, that shitcoin rugs, then you swap back for $1 of eth, you have $10,000 of realized losses - putting you at $0 taxable gains for the year.

>> No.29843279

>>29842872
I don’t care what they want to do, not my job to figure all that shit out, don’t I pay them to exist already? I’m too poor to give a shit, and they’ve already ruined my country. I’m not interested in being cooperative. At all.

>> No.29843308

>>29841293
What happened when they audited you? Do they get to search your property? Where did you cash out from? You reported your taxes before?

>> No.29843318

>>29843001
I'm not a genius and I'm not spending all my time watching charts and reading tea leaves. I just buy the dips and hold the rest. Yeah if I perfectly timed tops and bottoms I could have increased my stack but fuck paying taxes and possibly mistiming a swing and reducing my stack.

>> No.29843322

>>29843128
What do you even do even the monero to turn it into real world money?

>> No.29843323

>>29843279
sadly, in the eyes of the ZOG, claiming ignorance is not a valid defence

>> No.29843346

>>29842716
you don't have to pay your taxes. even people that don't use crypto dodge their taxes. the thing is though, if you get audited you will get fucked regardless of if you think you can hide your crytpo gainz or if you accidentally had a double claim or something simple.

>> No.29843353

>>29841100
>understaffed
I will tell you right now that they will be putting a lot more money and energy into the department for this administration as they need the money

>> No.29843365

>>29842923
It’s called being a bitch and submitting to the Jewish authority because you’re a coward. Fuck them and fuck people like you who allow their influence to have near total control.

>> No.29843378

>>29843322
I don't know, I'm wondering this too. Maybe a bitcoin atm for cash?

>> No.29843400

>>29842815
It should be.

You buy $100 worth of BTC, you eventually sell at $200, pay 20% of your 100 profit = $20 Tax.

Alternatively:
You buy $100 BTC, swop for ETH when your stack reaches $120 (20% of your 20 profit is $4). You then trade ETH for Link when your reach $160 (160-130 = $40 profit, 20% tax being $8). Finally you sell Link for USD when you hit $200 (200-160 = another $40 profit, 20% tax equals $8).
So 4 + 8 + 8 = $20.

So in both scenarios your tax burden is the same, it's just the fucking mountain of paperwork inbetween to show them PROOF that this is how it happened

>> No.29843434

>>29843209
>$20
>t, poorfag that doesn't understand automated blockchain analysis
>if you're poor nobody really cares if you pay taxes obviously

>> No.29843488

>>29843323
Still don’t care.

>> No.29843514

>>29843365
have fun staying poor

>> No.29843567

>>29843102
I started with 5grand in 2015, now at 700k. I've never paid taxes. I owe a lot right? Or just the gains from the year I cash out?

>> No.29843586

>>29843514
Made a lot this year. Tell me, who wil stay poor? The gag hit who gave away half his money because they demanded him to? Or the guy who won’t?

>> No.29843597

>>29843488
good luck to you then

>> No.29843605

>>29838076
Is this the same for professional stock-traders or do different rules apply to them or something?

>> No.29843666
File: 280 KB, 1024x768, 1614092179894.png [View same] [iqdb] [saucenao] [google]
29843666

>>29841100

>> No.29843711

>>29843400
based, then the crypto-to-crypto tax meme is just that, a meme. I knew it.

>> No.29843768

>>29842263
I'm a NEET who's never paid taxes but I've never cashed out all these years, what do I do

>> No.29843901

>>29843323
holy shit you're such a faggot. Imagine knowing zog exists and telling other people to pay taxes to it.

>> No.29843902

>>29842872
You fucking pussy I’m not paying a fucking dime. NOT ONE GOD DAMN DIME YOU IRS FAGGOTS EAT MY DICK

>> No.29844023

>>29843514
have fun gargling jew cock

>> No.29844025

>>29843102
>If you're American, just take whatever your gross profit was from crypto at the end of the year and treat it as income
Wrong moron. If a person bought BTC at $10,000, held, and now it's now worth $40,000 - they have $0 taxable income. If another person also bought BTC at $10,000, swing traded half of it, then traded back for $20,000 worth of BTC when $40,000, they would owe taxes on $15,000. It gets more complicated the more trades and different dollar values of the trades at the time of transaction. Just looking at your start and stop BTC dollar amount tells you nothing about how much you owe.

>>29843605
You don't trade stocks for stocks (legally) - just stocks for dollars or dollars for stocks.

>> No.29844036

>>29843586
If they come after you then you lose. You don't have the power to defend yourself.

>> No.29844057

>>29843901
because I want to stay under the radar you idiot, last thing I want is the ZOG up my ass investigating my tax affairs because I wanted to be a big guy

see: https://en.wikipedia.org/wiki/Irwin_Schiff

>> No.29844116

>>29841435
So I'm safe if I don't pay taxes at all?

>> No.29844248

>>29842283
Lock up is a meme? You mean it's not that bad or it's not gonna happen?

>> No.29844253

>>29844057
secondly, compared to normal tax investigations this will be easy for them, you used fiat on ramps with ID requirements due to KYC/AML and all of your transactions are on PUBLIC AND IMMUTABLE ledger

what's so fucking hard to understand that yeah it's a fucking pain in the ass but as long as they get their cut they don't stick their nose in the rest of my life

>> No.29844517

>>29842772
Anon, can you fill me in more on this?
So are you sayin satoshi and the team behind BTC- supressed transacation volume and subverted BTC on purpose???
They did this in order to make analyzing their chain way easier?

How did you come across this information and is this what you are trying to say? Tell me more please. This is gold.

>> No.29844533

>>29842283
Can you get good weed in prison? Honestly I wouldn’t mind it at all if I smoke fifteen joints a day.

>> No.29844543

>>29843711
Yes and no. If you did a few trades here and there you're fine. If you day traded like a degenerate and didn't track shit (like myself) then you're fucked. Or at least half fucked, I paid my taxes using my initial purchase minus my final cash out, I just ignored the 1000s of trades inbetween. If they audit me I'm sending them all my addresses and exchange CSV files and they can verify it. I know I paid, they can decide whether it was enough (although it's probably less because I didn't take into account my losses)

>> No.29844643

>>29844543
It’s retarded and the rules for crypto is to deter money laundering and tax evasion. If you just pay on what your cash out profit it is you will be close enough

>> No.29844718

>>29838778
Same in Ireland.

>> No.29844780

>>29844543
If you had losses wouldn't that benefit you? Wouldn't that mean you'd overpay if you just paid on your initial purchase minus final cash out?

>> No.29844875

>>29844025
>You don't trade stocks for stocks (legally) - just stocks for dollars or dollars for stocks.
I'm pretty sure there's a legal way to trade stocks for stocks, you just don't do it through a basic broker for retail investors. You might need a big boy broker or know the guy you want to trade with and how to file the paperwork to transfer the stocks.

>> No.29845311

>>29844643
I figure it's the difference between jail time and a fine. I can handle them fining me for not tracking shit but at least paying enough, I do not understand some of the anons here who just flat out not pay any tax, THOSE guys are going to get fucked harder than anything

>> No.29845366

>>29844533
they only have sativa in prison.