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13431193 No.13431193 [Reply] [Original]

Now that Brave has ad payments, am I supposed to pay taxes on my ad-watching earnings?

If Brave/BAT is successful, will the IRS be flooded with people filing taxes on their $0.07 from watching ads?

>> No.13431200

Are you asking if you have to pay taxes on your income?

>> No.13431211

>>13431200
I guess so, would it be classified as an income?

>> No.13431221

>>13431211
well its coming in, isn't it?

>> No.13431273

>>13431221
so are the Brave developers expecting us to pay taxes on the income through their app? And just so we can donate the money to our favorite youtubers. Seems like a big obstacle for adoption.

>> No.13431327

>>13431193
It's not income because it's not money. It's imaginary internet tokens that do nothing and are worth nothing.

>> No.13431359

>>13431327
Why live in la la land? Crypto is CLEARLY and OBVIOFUCKINGLUSLY being adopted, regardless of your pea brain and it's ability to completely gloss over life likea piece of shit skimming the rim of a toilet bowl as it gently but surely slides on down

>> No.13431403

>>13431193
in germany crypto is by law treated like a commodity. Do you pay fractions of bricks for owning or trading 200.000 bricks for 2000 apples? No.

Do you pay taxes for selling 200.000 bricks? yes.

Do you pay taxes for selling 200 bricks for under 600€? no

>> No.13431404

>>13431273
Literally everyone on the planet has to pay taxes on their income. It only counts as income if you convert the BAT into fiat currency, and even then the IRS probably won't come after you unless you make thousands.

So no, this is a non-factor for literally every productive member of society.

>> No.13431482

>>13431404
>It only counts as income if you convert the BAT into fiat currency
is that true? I thought miners for example, had to file taxes for when they earn the crypto, and then again when they sell it if it's increased in value.

But I agree it will be such small amounts with Brave that probably no one would care.

>> No.13431493

>>13431273
BAT partnered with REQ. It will all be done automatically.

>> No.13431501

>>13431493
so the taxes are already deducted?

>> No.13431504

>>13431482
No. It's not true. If you are a burger and end up with over $600 worth of BAT in a year, you'll have to claim it. Kek though. You won't earn $600 worth of BAT in your life time.

>> No.13431507

>>13431501
No. That will never happen either.

>> No.13431516
File: 94 KB, 1550x520, READITUP.png [View same] [iqdb] [saucenao] [google]
13431516

READ IT UP

>> No.13431517

>>13431193
PIECE
I
E
C
E

>> No.13431553

>>13431504
thanks, that's how I'd understood it.

>>13431516
quick rundown?

>> No.13431577

>>13431501
Not yet, but it is a top priority. BAT pays the taxes on rewards with parts of the ad revenue in the mean time.

>> No.13431596

>>13431193
did you report that nickel you found on the street that one time?

>> No.13431612

>>13431501
after reading through this thread your ignorance on even basic matters makes want to take a hammer to your face anon. be better you stupid faggot.

>> No.13431652

>>13431612
that's why I prefaced it with being a brainlet you faggot. I'm just a neet trying to understand this.

>> No.13431668

>>13431193
that's not how it is supposed to work pajeet.

you are supposed to pass those bat on to some youtuber or other fag on the internet.

they will accumulate more bat and cash out.

you are not supposed to watch ads as an income. fucking idiot.