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/biz/ - Business & Finance

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12715806 No.12715806 [Reply] [Original]

>Fill out taxes.
>Use bitcoin.tax and turbotax
>End up still having to pay even though I had thousands losses.


WTF this is literally robbery. I should not have reported anything.

>> No.12715835

>>12715806
>lose 70k in 2018 form crypto losses

>get $350 rebate

t-thanks

>> No.12715838

Part of me just wants to say gg and rot away in prison. I don't even want to try to make enough money to pay what I owe

>> No.12715844

Haha marked for life idiot

>> No.12715854

>>12715835
*of that rebate, half goes to paying turbotax

>> No.12716089

I only lost money and cashed nothing out, is it even worth it to report it? I can always go back and amend my taxes later.

>> No.12716114

>>12716089
you have to, otherwise you will

A) go to jail.
B) have ALL your assets liquidated, down to your toothbrush.
C) likely will have to give your very physical body to the IRS as a form of payment. they will stick things up ur pooper and harvest ur organs, among other things.

>> No.12716122

>>12715806
>reporting crypto
lmao retard.

Unless you were in profit and cashed out a considerable amount to your bank account why would you report anything?

>> No.12716133

>>12715806
>End up still having to pay even though I had thousands losses.
wtf that's not how it works. You only pay taxes from profit.

>> No.12716135

>>12716114
Nice fearmongering you retarded zoomer. I wouldn't even go to jail I would have my wages garnished or soemthing. Try to learn how to not be such a moron.

>> No.12716425

>actually selling at a loss

Your own fault, retard.

>> No.12716582

>>12715854
>WTF Turbotax only charged me like $100
They robbed you.

>> No.12716584

>>12715806
Traders lose again.

>> No.12716596
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12716596

>>12715806
>50k in taxes this year

>> No.12716601

>>12716135
jokes on them nobody here has jobs

>> No.12716637

>paying taxes on crypto

HA HA HA HA HA HA HA HA HA HA!!!! Fucking cucks!

>> No.12716686

try not being such a cuck

>> No.12716726

>>12715806

>used bitcoin.tax and turbtax
>didnt have to pay shit for my losses

what are you doing wrong faggot

>> No.12716865

>>12715806
>>12715835

If you had a $70k loss you are able to deduct $3k each year in capital gains losses. Every year after, you can continue carrying over your loss until its used up.

A $70k loss means you invested $100k of your money, you sold and now have $30k.

Just because your portfolio was worth $100k at one point and now it's worth $30k, it doesn't mean you "lost" $70k if you started with $10k. Apparently there's some retards on here that seem to think that.

>> No.12716949
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12716949

>>12715806
Anyone who cooperates with the Zionists to fund Israel deserves exactly this.

>maxed out all forms of credit and loans in 2013-2014 to buy Bitcoin
>bought Bitcoin OTC with cash on localbitcoins
>moved my entire networth into it
>have never associated my wallets with my identity
>will literally never pay taxes on it
>will never pay back the loans
>kikes are literally holding my fiat bags

this is what happens when you try to use stupid shit like a "credit score" to determine who's a good enough goy to deserve to live comfortably

the smart ones will call your bluff and leave you with the bill HAHHAHAHAHAHAHAH

>> No.12717196

>>12715806
Why the fuck would you pay taxes on crytpo? Only pay after withdrawing large amounts of money

>> No.12717264
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12717264

>>12716114
>have ALL your assets liquidated, down to your toothbrush.
you literally cant liquidate crypto unless you have the private keys

>> No.12717295
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12717295

>>12717264
this alone is going to cause so many kikes to self-implode with pure seething rage, it will be glorious

like just imagine a kike who literally CAN'T steal from you lmao

how long do you think that's going to last

>> No.12717325
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12717325

>>12717295
We saw how shit imploded after Trump got elected.
I have no idea what's going to happen when half the country isn't paying taxes and the other half is trying to live off of gibs and neetbux.
It might be like the government shutdown where they just crone in panic until they get real jobs or they might lose it and do some crazy shit

>> No.12717347
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12717347

>>12717325
actually, on a serious note, it has the potential to become a pretty bad situation for anyone who has doxxed themselves via Coinbase, KYC etc...

>> No.12717379

>>12717347
you can always keep your coins in a private wallet if you're paranoid about confiscation, that's the whole point of crypto desu

>> No.12717396

being a beta cuck reporting taxes on your $100 gains lmfao. you think the IRS is going to spend thousands on man hour labour to come after you? are burgers really this retarded? IS this who we're up against when we trade? lmfaooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

>> No.12717400

>>12717379
yeah that's what I'm doing... this is a warning to everyone else