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/biz/ - Business & Finance

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24544160 No.24544160 [Reply] [Original]

So did Americans who made profit trading on Bitmex report it on their taxes or nah? What's the threshold for the IRS to come after crypto people?

>> No.24544182

I don't think it's illegal for Americans to margin trade on these platforms, it's just illegal for THEM to offer it.

>> No.24544187

>>24544160
Bitmex? What is Bitmex?

Sorry agent, I’ve never heard of anything called Bitmex I truly don’t know what you are taking about have a nice day!

>> No.24544230

>>24544182
Right, so did Americans who traded there report it or did they send the profits straight to Coinjoin

>> No.24544268

>>24544230
No clue I never fucked with margin trading. Honestly the IRS is so backwards and clueless about the whole space if you just drop a stack of trades on their desk and pay your "fair share" they most likely won't bother how it came to be.

>> No.24544306

>>24544268
That was kind of my impression, that the people who are truly fucked are sending 10K plus to Coinbase or other KYC exchange and not filing anything for Capital Gains

>> No.24544346
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24544346

>>24544268
you guys underestimate the government.
They can hire anyone to track or crack anything if they want to.
They have a nearly unlimited budget.
Its just that sometimes its not worth the effort.

>> No.24544348

no sir i would never use a website like bitmex since i am an american citizen and american citizens were not allowed to use such a website. I always obey any and all laws and or regulations pertaining to me.

>> No.24544433
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24544433

>>24544346
>They have a nearly unlimited budget.
Of what, dollars?

>> No.24544459

>>24544433
uh yeah

>> No.24544868

>>24544346
Yes, if you're a huge whale dodging taxes, they'll spend the money and put the bleeding edge tech on you to absolutely rape you. But if you make a million dollars and fork over $400k in taxes, I doubt they will harass you. Coming forward generally shows good faith, especially in this scene.

>> No.24544920

>>24544346
Lmao no. The irs is underfunded. Its a lot easier to get away with cheating on your taxes than you think. They have to prioritize what they go after. So if you are a whale, i would be careful but small change probably not.

>> No.24545041

>>24544346
they cannot crack shit without a backdoor. However, they can easily track money flow, where you spend and how much. Bitcoin and most coins are a public ledger it would be stupid to try to circumvent the irs all it takes is one fuckup

>> No.24545189

>>24545041
A backdoor, like if you signed up for Bitmex with a gmail account (a lot of you did)

>> No.24545722
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24545722

>>24545041
What if I just lock my backdoor with the deadbolt? Seems good enough for me

>> No.24547007

Tarzan, Tarzan, Tarzan!