/biz/ - Business & Finance

[Anonymous No.29915967]

Crypto to crypto is a taxable event.

[Anonymous No.29916172]

I have a feeling this won’t be the case as time goes on and our gov gets a better understanding. Its literally impossible for uniswap degens to track crypto to crypto when they’ve held thousands of shitcoins in a year lol

[Anonymous No.29916219]

>>29915967
>America problems

[Anonymous No.29916268]

>>29915967
> Taxes
You don't seriously tell the gov about your crypto gains, right?

[Anonymous No.29916312]

>>29916172
They want you to not know or track it in reality so they can take a nice lump sum instead to whatever percentage they feel like.

[Anonymous No.29916340]

>Crypto to crypto is a taxable event

[Anonymous No.29916346]

>>29916172
>our gov gets a better understanding
Anon, I...

[Anonymous No.29916353]

>shitcoin 2 shitcoin taxable
>exchanges don't send 1099's
>exchange only keeps last 3 months of history

[Anonymous No.29916391]

>crypto to crypto is taxable
>have to sell to pay taxes
>selling is taxable

[Anonymous No.29916424]

>>29915967
repeat after me, you fucking nigger:

kyc onramp --> monero --> monero cold wallet, all on the same day. that will be your only tax and the gain/loss (tax due) will be minimal.

you are now free.

[Anonymous No.29916459]

>>29916268
>thinking they don't already know
Oh no no no

[Anonymous No.29916485]

>Crypto to crypto is a taxable event.

[Anonymous No.29916495]

>>29915967
>Trade some crypto to crypto
>Don't tell the big spoopy cia man
>He doesn't take my shekels
Unless you're... too scared?

[Anonymous No.29916538]

>>29915967

I feel like there's a new protocol, at least for burger crpyto users, out there for the making that deducts a percentage of taxable token swaps and puts it into some sort of 'tax' wallet.

[Anonymous No.29916553]

>>29915967
>land of the free home of the jewed
feels good to be a free euro

[Anonymous No.29916653]

>>29915967
Not in my country it ain't.

[Anonymous No.29916702]

>>29916268
The exchanges report all your trades to the IRS.

[Anonymous No.29916713]

>>29916653
because your country is technologically literate

[Anonymous No.29916756]

>dont report it
>dont get taxed
hm.
>but den u will get raped by irs durr durr
gains? what gains, not a cent has touched my accounts.

[Anonymous No.29916977]

>>29916756
>Don't report
>big cia man knocks on your door

[Anonymous No.29917002]

>>29916702
typically only if you're above some reporting threshold.

>Coinbase provided the IRS documents for any user with at least $20,000 of any one type of transaction: buying, selling, sending, or receiving digital currencies, in any one year between 2013 to 2015.

they don't seem to do it willingly because it's such a pain in the ass to calculate.

[Anonymous No.29917108]

>>29916553
>>land of the free home of the jewed
feels bad man

[Anonymous No.29917357]

I'm certainly not taking my chances. But i mostly hodl so it's a moot point. Perhaps when i cash out for good I'll sell monero for cash

[Anonymous No.29917476]

>>29915967
>compounding interest is income

[Anonymous No.29917735]

>>29916713
anon he just said he doesn't live in burgerstan

[Anonymous No.29917773]

>>29916424
What are you even talking about? They can still get access to your buys on the exchange and demand and audit trail. You're pretty much gambling and hoping they don't find out and seize your assets and lock you up (if we're talking about a lot of money).

[Anonymous No.29917807]

Amerimutts are never gonna make it

[Anonymous No.29917890]

>>29916340
imagine getting a bj from that guy

[Anonymous No.29918053]

>>29917773
> They can still get access to your buys on the exchange and demand and audit trail.

the audit trail would be a dead end. they can request your bank statements, whatever the onramp exchange reports, and the blockchain trail showing an exchange to a monero wallet. after that it's nothing. create a few dozen different monero wallets. tell them you're paying for services. do not create any sort of recurring pattern with amounts, dates, times, etc.

[Anonymous No.29918085]

>>29916713
Cope, US is reaching leaf levels of cuckery, loicenses and aussie levels of shit goverment and regulations.

[Anonymous No.29918252]

>ass to mouth is a taxable event

[Anonymous No.29918367]

>>29916702
This is why you don't use centralized exchanges retard. Only use shit like Uniswap and Baoswap, etc.

[Anonymous No.29918370]

>>29918252
>ass to ass is a write-off

[Anonymous No.29918466]

>>29918370
KEK

[Anonymous No.29918514]

>>29918367
>trading several years of wages on a chink scam exchange

[Anonymous No.29918537]

>>29918367
you need to go from fiat to crypto first somehow retard

[Anonymous No.29918633]

>>29917735
>>29918085
did you accidentally read illiterate instead of literate?

[Anonymous No.29918663]

>>29918370
>cock to ass is a stoneable event

[Anonymous No.29918723]

>>29916172
they dont care. stockfags have to do it and so do you

[Anonymous No.29918821]

>>29916219
france too

[Anonymous No.29919118]

>>29918537
which isn't a crypto-to-crypto transaction nigger

[Anonymous No.29919222]

>>29916391
This is all one thing. You get taxed per trade (on profits) OR when you pull it all out.

[Anonymous No.29919414]

>>29919222
Soo crypto-to-crypto isn't taxable if you just pay tax on the capital gains when you cash out 100%?

[Anonymous No.29919420]

I’ve converted so many times before I realized this, and there’s no fuckin way I can track how many times I did..no clue what to do

[Anonymous No.29919480]

Really? Ahah!

[Anonymous No.29919688]

>>29915967
so you're saying i can pay less taxes by writing off losses cool man bye

[Anonymous No.29919844]

>>29918053
>trying to game the IRS
great plan, anon

[Anonymous No.29920130]

>>29915967
Americucks destroyed again.

[Anonymous No.29920265]

WHY AMERIFATS ARE TOO AFRAID TAX KIKES??

[Anonymous No.29920322]

>>29915967
yep, every time you move, swap or use crypto......... bam 15% minimum right too uncle jew........ Even better is how you crypto fags change your coins to USD when you cash out. What's the point of all of this if we just turn it back into dollars!?!??!? jaajaja

[Anonymous No.29920510]

Use rubic retard

[Anonymous No.29920523]

>>29919480
>EU

In Austria it is because crypto to crypto is still speculation and if you have speculation gains you're still liable for 27.5 % tax.

Crypto here is only tax free if you hold the position for 1 year.

[Anonymous No.29920634]

>>29916172
>the government will relinquish power
>the government will relinquish power on a financial system that subverts their fiat/debt system
"no"

[Anonymous No.29920643]

>>29920523
Nein nicht 27.5 sondern dein Einkommensteuersatz, bei mir 48%
Gschissn

[Anonymous No.29920814]

>>29918633
They probably did. So did I at first. Must be one of those things where your mind fucks with you.

[Anonymous No.29920987]

>>29916219
What you think Shitugal won't addopt it? They're just slow to respond to technology.

[Anonymous No.29921021]

>>29918370
Didn't knew Joe Biden had such a good taste in whores

[Anonymous No.29921108]

>>29920987
I sure wish I had to pay taxes now because I might have to in the future. Damn, you got me?

[Anonymous No.29921145]

>>29920510
???

[Anonymous No.29921249]

>>29915967
>Mining: Income tax
>Exchange to stake: Gains tax
>Staking: Income tax
>Trading:Gains tax
>Cashing out: Gains tax

How does this even make sense? How is a hobbyist supposed to keep track of all this shit?
Do I at least get depreciation if a token goes tits up?

[Anonymous No.29921574]

>>29920523
In Italy we don't play anything if our profit is less than 50k.

[Anonymous No.29921602]

>>29920643
Eh ok, nicht mein Problem.

Werde groß einsteigen wenn/falls es unters 10k fällt und die Sache dann mehr als ein Jahr ruhen lassen.

Konnte bei dem Bullrun jetzt nur mein altes Portfolio reaktivieren, zu spät gekommen, aber immernoch steuerfreien Gewinn gemacht.

[Anonymous No.29921895]

>>29918723

brokerages actually keep records of stock prices, and stocks aren't bought in fractional amounts. forex doesn't do it this way for the same reason crypto shouldn't. if you disagree you're literally a jew

[Anonymous No.29922001]

How will they know? A lot of Exchanges dont keep records longer than 3 months

[Anonymous No.29922109]

Why does being a taxable event matter? You're still only getting taxed on your gains for the same amount right?

[Anonymous No.29922127]

>>29922001
That's your problem, not theirs.

They may assess what you probably earned, or just just hand your ass to a judge.

[Anonymous No.29922392]

>>29915967
not to be a faggot, but source?
from what I understand only withdrawing to cash is taxable
Id like to know where the IRS mentions something like this

[Anonymous No.29922419]

>buy ETH for $1000
>trade $1000 of ETH for Shitcoin X (lose $50 in fees)
>shitcoin X increases 10x so now have $9500 worth
>convert back to ETH (lose another $50 in fees)
>sell for $9450
What is the tax difference between this and
>buy Crypto A for $1000
>sell for $9450

[Anonymous No.29922500]

>>29922001
>put 5k into my crypto exchange
>buy shitcoin A
>thing gains 20%
>swap it for a coin which seems more profitable
>the thing moons at i go +500%
>sell everything and transfer the money back to my bank
>bank goes apeshit because big money
>tax office finds out and i have to tell them that its crypto money
>they wanna know exactly when i bought which coins and tax me accordingly for each transaction
>can't lie because its very easy to check which coin did how well
>if i can't provide proofs for whatever reason they will just give me an unfair high tax to be sure

Don't think you can cheat the system

[Anonymous No.29922766]

>>29922500
So you start with 5k and end up with 36k right?

What's the tax difference between being taxed separately on the 1k gain and then the 30k gain as opposed to if it had simply been one single 31k gain?

[Anonymous No.29922865]

Just some kike shit. If you make more than a pleb amount, you will find yourself moving to a nontaxing country. Rich people never pay taxes.

[Anonymous No.29922930]

fuck that swap it to monero when you make sick gains and tell the irs that you lost it all·

[Anonymous No.29923528]

What alts should I buy into?
I am thinking that either DOT, KSM or ATOM are wise choices but I don't have the know-how to explain why I think this.

[Anonymous No.29923627]

>>29918367
THIS

[Anonymous No.29923695]

>>29915967
good thing i only have losses

[Anonymous No.29923714]

>>29923528
Monero

[Anonymous No.29923817]

Good god , do you really believe the government is going to spend time tracking all of your fucking shit coin trades? Fuck off with this please.

[Anonymous No.29923881]

>>29923714

[Anonymous No.29923928]

>>29918537
>he doesn't know how
lmao okay

[Anonymous No.29923973]

>>29915967
>the land of the free and the home of the brave

[Anonymous No.29923987]

>>29915967
Nobody is coming after your uniswap shitcoin trades, pay from final amount when you cashout

[Anonymous No.29924040]

>>29923714
Doesn't look like a good time to buy Monero, bro. What's up with this coin?

[Anonymous No.29924088]

Nigger to Nigger is a taxable event

[Anonymous No.29924410]

>>29922419
nothing, the problem is, the taxman wants to know where the money came from. and because of money laundering and stuff, "from crypto" is not good enough.

[Anonymous No.29924429]

>>29918633
Fuck I actually read it that way

[Anonymous No.29924522]

>>29923987
>just lie to the IRS it'll be fine bro

[Anonymous No.29924561]

imagine being american. all the trades you do and all the hours you spend looking at charts and reading about projects end up in you paying a substantial amount of money in taxes to give welfare to niggers and to convert to israeli shekels. how are people with a 3 digit IQ still living there?

[Anonymous No.29924722]

>>29917890

[Anonymous No.29924885]

>>29921574
Paese più basilatto

[Anonymous No.29924917]

>>29924722
post the comic anon

[Anonymous No.29925277]

>>29921574
in Portugal we don't pay anything kek

[Anonymous No.29925311]

>>29924917
I don't think /biz/ is ready for it.

[Anonymous No.29925371]

>>29924561
Im trying to get out. This country is so fucking garbage its unreal

[Anonymous No.29925426]

>>29915967

they can't really prove it desu and the IRS is NOT that competent unless you're converting crypto to like 50K or more of fiat

they can't prove shit, what, are they going to ask to see your fucking crypto wallet keys/address

[Anonymous No.29925486]

>>29916268
Have fun never having the option of moving that money to your bank again.

[Anonymous No.29925553]

>>29925311
jesus fucking christ anon

[Anonymous No.29925567]

>>29925311
we're red across the board today anyways might as well wallow in the depression

[Anonymous No.29925738]

>>29925311
I don't get it.

[anonymous No.29925741]

>>29925311
post the others

[Anonymous No.29925782]

>>29925311
This is a whole series by the way. There's one where they'd at the dinner table on Thanksgiving and the mom's trying to suggestively egg the daughter into behaving and she flat drops an "I'm not going to pretend that dad doesn't fuck me." and everyone stews for the rest of the evening.
Another one about her bath routine and having to stop the door to keep her dad out. I think the author probably has some shit going on.

[Anonymous No.29925842]

>>29925741
>>29925782
Most of them are on
https://funnyjunk.com/The+clarissa+comics+collection/funny-pictures/5344817/

[Anonymous No.29925923]

>>29925842
Y'know, I'd have surely pegged Funnyjunk.com's funny-pictures collection as the place to go for these on my first guess.

[anonymous No.29926139]

>>29925842
kek, funnyjunk child molestation comics

[Anonymous No.29926203]

>>29925738
pedophilia and incest

[Anonymous No.29926521]

Crypto tax laws in the US are like gun control laws in the US. The people writing the rules have no idea what they're doing, and don't actually understand how anything works.

[Anonymous No.29926601]

>>29916172
This poster is a redditor.

[Anonymous No.29927469]

>>29925426
>they can't prove shit
In the USA the burden of proof is on you, not the IRS.

[Anonymous No.29927673]

>>29916172
>as time goes on and our gov gets a better understanding
A better understanding of how to take your shit, yeah

[Anonymous No.29927688]

>>29915967
I’ve done thousands of trades on BSC in just this past week

[Anonymous No.29927760]

>>29921574
Oh i could move to south tirol and living with germans and falling under italian tax status

[Anonymous No.29927905]

Step 1. Buy ethereum
Step 2. Send ethereum to crypto poker site
Step3. Plays headsup poker with another account and lose on purpose
Step 5. Use the other account to trade.
You can then just show the irs how you lost the crypto gambling

[Anonymous No.29927998]

>>29924561
Funny because crypto to crypto is a taxable event in most countries but people just dont know it lmao.

[Anonymous No.29928229]

>>29927998
desu I never got it. I mean I know there's laws in lots of countries, but it's a lot easier to avoid taxes with crypto than with any other asset, right? worse case scenario you can just put everything in stablecoin and cash out slowly over time, or buy gold with it and then sell the gold you bought right away. I mean you might lose some money in this process, but it's always a lot less than what you would lose in taxes, right? what am I missing?

[Anonymous No.29928395]

>>29928229
Its pretty easy to avoid them as long as you don't have an american citizenship and willing to move to a place where gambling is not taxed.

[Anonymous No.29928448]

>>29925311
What the fuck.I want to see the others.

[Anonymous No.29928479]

>>29915967
Think they would have to change this if we all made billions of micro trades and sent in filings that are millions of pages long?

[Anonymous No.29928602]

>>29928448
see >>29925842

[Anonymous No.29928661]

>>29919420
I think as long as you put something on an excel sheet, it shows you put a reasonable effor tinto tracking it and the IRS is ok with it. So just record some fake trades on excel so that bottom line it ends up 0 capital gains

[Anonymous No.29928941]

>>29928448
https://imgur.com/gallery/g2s8AWF
here is all of them but 1

[Anonymous No.29929039]

>>29915967
Only if you go back to fiat in less than a year.
If the fiat to fiat event is longer than a year then its long term capital gains.
Long term capital gains only considers the cash in and cash out.
It doesnt care about anything inbetween.

[Anonymous No.29929136]

>>29916977
Ask for the bill
Pay the bill

Grow some nuts anon

[Anonymous No.29929138]

>>29929039
where have you read this? from everything Ive read im going to have to report on all my eth swaps even tho I havent sold any of the alts i swapped it to

[Anonymous No.29929259]

As I understand tax laws regarding crypto to crypto conversions in the United States it works like this:

Example 1: You buy a coin that is priced at $1,000 per coin. The value of said coin rises to $2,000 per coin shortly thereafter. You then convert all you holdings ($2,000) of said coin to another coin. Because you gained $1,000 dollars while holding the coin, you now owe either short term capital gains tax (if you converted the original coin to the new coin less than a year after holding the original coin) or long term capital gains tax (if the original coin was held for longer than one year) on the $1,000 you earned while holding the original coin.

Example 2: You buy a coin that is priced at exactly $1,000. The coin does not fluctuate in value at all, never rising or falling below exactly $1,000 dollars. You decide to convert the coin to another coin. You owe NO taxes on this conversion as you realized no profit while holding the coin.

Example 3: You buy a coin that is priced at $1,000. The price of the coin goes down to $900. You decide to convert the coin to another. You not only owe NO taxes on this conversion but you can report this as a loss to the IRS.

Are these examples correct or am I missing something here?

[Anonymous No.29929334]

>>29929259
This is my understanding of the tax as well. Such a pain in the ass tho as I have purchased many times like .6 eth and then swapped like .23 of it into a shitcoin. Unsure how to report the fractions.

[Anonymous No.29929430]

>>29915967
What's a crypto?

[Anonymous No.29929622]

>>29928602
I had to stop when the bedbugs were talking about what monsters taste like and she said sour pennies. Holy shit.

[Anonymous No.29929688]

>>29929622
iktf anon

[Anonymous No.29929741]

>>29929334
No clue either. I’m hoping to use some kind of api that’ll track it for me because no fuckin way I can look up all the times I converted before knowing it was taxable

[Anonymous No.29929748]

>>29915967
What about trading gold for silver or silver for gold?

[Anonymous No.29929916]

>>29929259
Thats exactly how it works. It's the same way US Stock trading gains are calculated for people in the UK if its settled in USD since you have to worry about the exchange rate gains on top of the trade gains

[Anonymous No.29929931]

>>29915967
>I change my bulbasaur to your pikachu
*IRS screeches autistically

[Anonymous No.29930168]

WHAT is being taxed? CRYPTO a property, OK, blow my ass, but HOW does a PURCHASE be taxed? Do they ask for a % of the usd amount traded? WHAT %

[Anonymous No.29930200]

>>29920987
They will next year, heard from friends in politics.

[Anonymous No.29930490]

>>29915967
>Argentina
>legislation is confusing as fuck
>nobody knows if you're supposed to declare any taxes or not
>deliberately kept that way to fuck you in the ass if you ever manage to get any profits

could be worse I guess...

[Anonymous No.29930525]

>>29929259

100% correct

[Anonymous No.29930692]

>taxing my $2-10 conversions from free shitcoins from coinbase to ETH to shitty memecoins that -50% as soon as I buy in
Whoever does my taxes next year is gonna hate me.

[Anonymous No.29930854]

>>29916172
>and our gov gets a better understanding

I'm surprised they haven't moved already to rape the cash from the unsuspecting troglodytes

[Anonymous No.29931160]

Just dont pay the taxes you niggers.

Do you think the government knows what the fuck a uniswap pancake/slave.finance/yam.finance token is?

If you must pay taxes just pay the flat fee for cashing out.

[Anonymous No.29931246]

>>29916312
they should let people swap cryptos around all they want, but when they withdraw over what they put in, start taxing that..

say you put in 100k..
you take out 100k...
10 years later, almost a million trades later...
you cash out, 100mill....
they take the % of that 100mill...
fair.

40% + every swap is insane.

[Anonymous No.29931303]

>not evading taxes
>2012+9
ngmi

[Anonymous No.29931432]

Does uniswap provide a trail of what you've done?

[Anonymous No.29931531]

Portugalbros we will soon have taxes on crypto i heard from a friend in politics. And it might be retroactive i.e they will pass the law next years and 2021's earnings will be on the 2022 IRS.

[Anonymous No.29931552]

>>29931432
uniswap is not an exchange lol

it technically does not exist

you can actually trade on uniswap using just etherscan if u wanted

[Anonymous No.29931576]

>>29923714
How do you turn it into cash though I can't pay my rent with xmr

[Anonymous No.29931885]

>>29915967
It sure is goy. And you will pay your taxes on time.

[Anonymous No.29931894]

>>29916495
This. Stop being a cuckold. If you're "honest", report your fiat-crypto-fiat exchanges and nothing else. Do not buy anything on centralized exchanges other than shit like ETH or BTC after which you immediately send that shit to your own wallet.

[Anonymous No.29931942]

>>29915967
>Crypto to crypto is a taxable event.
I LITERALLY don't understand what this means, you don't have to pay taxes unless you make profit here

[Anonymous No.29932042]

>>29915967
i am literally not going to report shit til i make it

[Anonymous No.29932079]

>>29920322
i dunno man, how do i pay rent or buy groceries with my BSC ponzi scam coins?

[Anonymous No.29932140]

>>29919844
yeah pretty much. that's what it's for.

[Anonymous No.29932144]

>>29931531
move to Andorra

[Anonymous No.29932342]

>>29917476
In my state my federal tax refund is taxable income.

[Anonymous No.29932345]

My diversity hire assigned portfolio agent at the IRS ain’t gonna be able to track the retardation I inflict on a daily basis

[Anonymous No.29932520]

>>29920322
>jajajajaja
Mexican intellectuals everyone.

[Anonymous No.29932590]

>>29916172
a better understanding of how much money is made, they'll want to tax you even more

[Anonymous No.29932675]

>>29915967

[Anonymous No.29932724]

>>29931531
>Portugalbros we will soon have taxes on crypto i heard from a friend in politics. And it might be retroactive i.e they will pass the law next years and 2021's earnings will be on the 2022 IRS.
lmao politicians are smelling money

[Anonymous No.29932859]

>>29932724
Can't fucking wait for look at pic related
>our tax %s

[Anonymous No.29933011]

>>29915967
Accidents happen anon

[Anonymous No.29933318]

>buy coin
>move it to defi
>make gains there
the problem arises when you want to move those gains back to an exchange to cash out.

[Anonymous No.29933493]

>>29915967
REEEEEE who should I be hating righ now? dem sec fuckers again?

[Anonymous No.29933550]

>>29933011
based

[Anonymous No.29933711]

>>29925277
based country, in Ukraine too

[Anonymous No.29933856]

>>29915967
>ever willingly paying taxes

[Anonymous No.29933941]

Hey does anyone know how long it takes to receive BTC in my own wallet from the exchange? It's been 8 hours, and hasn't arrived in my Electrum wallet. It says "unconfirmed" on the blockchain, and Electrum has said "synchronizing" all day idgi I thought it doesn't download the blockchain so there shouldn't be much time to get up to date

[Anonymous No.29934005]

>>29933941
does it say how mant vMB from the tip it is?

[Anonymous No.29934063]

>>29934005
>mant
many*

[Anonymous No.29934664]

does any exchange keep track of this shit on your behalf and just gives you a 1099 or something? theres gotta be one where you just put a number into turbotax and call it a day

[Anonymous No.29934737]

Why isn't Dollars to Euros taxable?

[Anonymous No.29934774]

>>29934664
Koinly does that, it will sync with exchanges and wallets. Not all exchanges though.

[Anonymous No.29934841]

>>29915967
the last time i bought crypto was in 2014. i made loans for it. the exchanges have disappeared since then. some of the exchanges i used to swap tokens have disappeared and did not require kyc. i d like to see someone show up and ask for my private keys to tax me someday. that d be fun.

[Anonymous No.29934967]

>>29934005
No :( I hope it's not lost forever

[Anonymous No.29934968]

>>29932342
>thanks for the interest free loan citizen!
>here’s the extra back
>but we’re gonna use this to kickstart your next interest free loan to us :^)

[Anonymous No.29934997]

>>29918053
paying with crypto is also a taxable event, anon

[Anonymous No.29935046]

>>29916172
If you're trading on uniswap or any eth based defi projects everything the IRS needs is on etherscan you brainlet.

[Anonymous No.29935079]

>>29917773
You know, it's a real shame
I got scammed into sending all my ETH to one of those elon wallets by some faggot on telegram and I never saw it again.

[Anonymous No.29935132]

Can't I just say I put 5k into crypto and turned it into 50k when I cash out? Do they really need to have every crypto-to-crypto transaction or else you're fucked?

[Anonymous No.29935246]

>>29927469
they just freeze your account until they can prove you are laundering

[Anonymous No.29935364]

>>29934737
check your laws, depends on what kind of trades you do it might be taxable
>If your company exchanges currency at a profit, it must pay tax on the gains it realizes from the transaction. ... Currency held for investment purposes is taxed at capital gains rates. If the company has held the currency for more than one year, the gain is taxed at the long-term capital gains rate.

[Anonymous No.29935433]

>>29919414
Pretty much. This is why smart anons look into tax lawyers with crypto experience. If you make sure to cross all your t's and dot your i's, the whole experience can be completely painless and you still get your money. If you're honest and upfront, not trying to outright hide trades, you'll be fine. Just report it all when you're getting ready to cash it out, do it all through the tax lawyer. Give the IRS their cut or they WILL just come and take it anyway.

[Anonymous No.29935552]

>>29926521
the US is a geritocracy, the median age of a US senator is 67 years old. nancy pelosi is 80, mitch mcconnel is 78, the last two presidents were born in the fucking 1940s. it’s like looking at the declining soviet union except the people holding power are EVEN OLDER.

absolutely bonkers to think people that old would have any useful insight on the internet, crypto, or anything more modern than a vcr.

americans genuinely need to stage another revolution. not a retarded one where people dress up in cosplay and wander around the capitol until they’re told to go home. a fucking real one.

hell it could even be a bipartison one. the difference between far left AnComs and far right libertarians is really just flavour. in the end we both want to see libtard heads seperated from libtard bodies.

best thing that country can do for it’s future is to get rid of the state. break into multiple countries even. the vast cultural difference across the us makes it fucking stupid to try and have a centralized leadership.

americans need to fix their home before they’re actually designated a third world country. the empire has failed. build small communities. crypto is actually the perfect tool to allow independant states to still have a fully functional economy.

[Anonymous No.29935578]

>>29935433
https://www.youtube.com/watch?v=d6p103x8pxk

[Anonymous No.29935632]

>>29935578
https://www.youtube.com/watch?v=msIFuzDWsyk

[Anonymous No.29935670]

>>29916268
> gains

[Anonymous No.29935675]

>>29915967
Yeah this is fucking horrible.

[Anonymous No.29935708]

>>29918821
"no"

[Anonymous No.29935722]

It would appear I've either lost or gained an undisclosed amount.

[Anonymous No.29935785]

>>29916653
Someone stopped the kikes from running your country at some point in the past

[Anonymous No.29935852]

>>29915967
Not if I always lose in the end

[Anonymous No.29936151]

>>29935852
incorrect the US tax laws will take their share from all the intermediate steps, only buying with fiat and holding and never cashing out is nontaxable. The moment you move it to another crypto or use it in any other way then there is a taxable event which they will do everything in their power to track and bill you for.

[Anonymous No.29936224]

>>29936151
but only if you make profit, right?

[Anonymous No.29936497]

>>29936224
if you profit from using fiat to buy one crypto then transfer it to another crypto but then lose, I'm pretty sure you still owe for the first round of profit. There's a coinbase article outlining the US laws and what exactly is taxable. It's fucking retarded and would make any sane person only use an exchange to buy crypto then immediately transfer it out. The upside is they probably can't track wallets quite as well, yet. That's why there's a couple anons saying to go to monero at some point. Also most things under a certain amount they probably don't care about.

[Anonymous No.29937352]

Monero is more stable than most stable coins. Who else /comfy/?

[Anonymous No.29937435]

>>29936224
he's trolling you man. you're only taxed on overall profits. I've been doing this since 2015

[Anonymous No.29938299]

>>29937435
https://www.coinbase.com/learn/tips-and-tutorials/crypto-and-bitcoin-taxes-US

not intentionally trolling, only holding is nontaxable

[Anonymous No.29938321]

>>29935433
Fuck where do I even find crypto tax lawyers? Is there a listing somewhere?

[Anonymous No.29938736]

>>29924561
I want to go to singapore. I don't know where else I could make it.

[Anonymous No.29939294]

At what point does one have to give a shit?

I did all the coinbase free crypto and converted them to ETH. Swapped ETH to two or three other cryptos but haven’t made any real profit. Do I even bother taxing this shit?

[Anonymous No.29940099]

Ethereum network is all the same thing. Not taxable IMO.

[Anonymous No.29940116]

>>29939294
>At what point does one have to give a shit?
depends, in some places you get stiffer penalties for tax crimes than homicide

[Anonymous No.29940134]

>>29925311
pain

[Anonymous No.29940392]

>>29916538
someone should make it and call it cuckcoin

[Anonymous No.29941165]

Only in the failed democracy of Fatburgerstan.

[Anonymous No.29941519]

I will NEVER give the IRS kikes a single dollar

[Anonymous No.29941588]

>>29941519
Based.

[Anonymous No.29941610]

>>29915967
just shoot them

[2k CHAD No.29942234]

>>29915967
Fuck nerds. Money is gay compared to bullets. Tired of these dickless schlomos who use money instead of murder. Murder is the only real currency. Calling money a "currency" is like looking at a fucking crippled baby and calling it a "big strong man" just to be polite.

>A world that respects imaginary value
>instead of physical force

The system is so fragile. Capitalism is like a crippled kid with cancer, readily beaten to death. The only reason you faggots like capitalism is because people would rather perform no more labor than a crippled kid with cancer. They want to live the life of being dickless and crippled, and somehow subsist by talking shit.

>20,000 years ago
>Just murder
>Now
>A bunch of gay shit like computers
>Gay everything
>Basically no murder

Money cut your balls off, faggots. You just drink gay shit all day and are contented by some meek fucking life counting imaginary value that means nothing when the cowboys decide to flip the switch and go back to murder as the the only form of currency.

The irony is that money doesn't even make you happy. You're no more happy with riches than you are in poverty, because happiness comes from dominating people with brutal physical force. Your money doesn't make you happy because it's not power, it's not glory, it's nothing but the same fucking "Good boy points" that the autistic children use to get their god damn chicken tenders from their mommies. That's your money. Your just counting your good boy points instead of being a man.

Count your man points, faggots. Oh wait, you don't have any man points. This is because man points are murders, you get some points for enslavement as a means to an end to murder, but only if said enslavement results in murder.

>be faggot
>jacking off to big pile of "good boy points"
>not even happy
>keeps going because capitalist mommy says "good boy points make you happy"
>They don't
>because you're not a fucking child

[Anonymous No.29942378]

forgive my ignorance, but hasn't monero a debit card?

[Anonymous No.29942383]

>>29935433
pussy

[Anonymous No.29942409]

>>29915967
How does one tax worthless to worthless?

[Anonymous No.29942435]

>>29941519
>NEVER give the IRS kikes a single dollar
how? you MUST

[Anonymous No.29942485]

I only sell at a loss so I'm good.

[Anonymous No.29942569]

>>29935046
just dont tell them your wallet address you dumb fuck... its called Crypto because its Cryptographic, they dont know how to decode that shit

[Anonymous No.29942625]

>>29916353
Kucoin and MXC both deleted my trade history after I didn't use them for months. Gov will just have to accept payment on what I cash out because even I have no fucking idea about my trade history

[Anonymous No.29942717]

>>29940099
That will probably but decided by a court case in however many years as the current US laws are retarded and the IRS wants a piece of every single transaction

[Anonymous No.29942723]

>>29942625
whats funny is that the IRS demands that you keep your own records and use those for self reporting, but if the IRS isnt given any forms to back up what you self report, what the hell is even the incentive to keep those records?
What prevents me from just using AMM to hide all my gains and crypto to crypto trades and only pay tax on what i cash out on?

[Anonymous No.29942762]

>>29923714
yo quiero monero

[Anonymous No.29942797]

>>29942723
nothing... the IRS is just hoping a bunch of retards will give them free money because they have no possible way of tracking shit

[Anonymous No.29942838]

>>29942717
Impossible. well, it is possible but the blockchain will slow to a crawl because everything needs to be logged then re-verified through whatever IRS system gets set up to validate a blockchain transaction and filter out international trades vs domestic (which opens the IRS/US govt to potential financial terrorism accusations due to the slow down of the market and their access to information they legally arent allowed to have)

[Anonymous No.29942900]

>>29925738
daddy is fucking the little girl and the teddy bear doesn’t like it

[Anonymous No.29942943]

>>29942900
its a bunny rabbit you blind fuck

[Anonymous No.29943004]

>Buying a purple item with WoW gold is a taxable trade!
STFU.

[Anonymous No.29943030]

>>29942943
Teddy bear means Theodore Roosevelt bear, a teddy bear can be any animal

[Anonymous No.29943054]

Instead of trying to scare people into paying taxes why don't you SEC or FBI or whoever the duck is making these fud trades. Develop some tech to make it simpler.

This thread GLOWS! Jesus I can see it from minecraft.

[Anonymous No.29943089]

>>29918723
lmao how would they even know

[Anonymous No.29943139]

>>29935046
are you going to tell them which one is your address? wtf

[Anonymous No.29943148]

>>29915967
unless they accept payments in crypto, it's really not.

[Anonymous No.29943255]

>>29943148
Yeah I don’t get it they want you to pay out of pocket while you don’t even cash out?

You can move around real estate without paying taxes

[Anonymous No.29943379]

>>29915967

Government

[Anonymous No.29943428]

>>29915967
Isn't there a limit to this like with normal exchanges?
Pretty sure they don't give a fuck if it's under a certain threshold. They don't give a shit about my $400 DOGE gainz right?

[Anonymous No.29943472]

>>29943054
>why don't you SEC or FBI or whoever the duck is making these fud trades. Develop some tech to make it simpler.
math is hard and NSA thinks FBI is too incompetent to be entrusted with the decryption tools

[Anonymous No.29943616]

https://www.americanbar.org/groups/business_law/publications/blt/2017/08/06_wood/

3-6 years is the general window they have to find and tax it

[Anonymous No.29943644]

>>29942723
Exactly. I get a letter to be audited. I send through everything I have with huge gaps in the middle, what are they gonna do? I honestly feel the blame can be pushed on exchanges for not protecting the end user, which will probably result in even stricter regulations around exchanges. But i already cashed out enough so that's a problem for future anons to worry about, if they get screwed over to save me tax issues then whatever

[Anonymous No.29943673]

>>29942838
A bunch of the oldheads who don't understand crypto, many of them over 70, think they can do it lol

They're pushing Yellen to try

[Anonymous No.29943771]

>>29943379
excellent meme sir

[Anonymous No.29943791]

>>29943428
I'd be curious what the limits the exchanges are doing rn desu

The IRS has limited manpower and is not technologically adept and are somewhat reliant on their tipline

[Anonymous No.29943807]

>>29925842
>https://funnyjunk.com/The+clarissa+comics+collection/funny-pictures/5344817/
jesus christ anon
whoever made these knows their child psychology pretty well, the art is really good, they're great actually- but jesus christ.

kill all pedophiles

[Anonymous No.29944363]

Why shouldn't it be?

[Anonymous No.29944442]

>>29944363
If corps can offshore money to reduce tax burden indefinitely then so can we

[Anonymous No.29944503]

>>29918370
based

[Anonymous No.29944594]

>>29935132
If they audit you you’re fucked

[Anonymous No.29944726]

>>29942569
>wat is kyc

[Anonymous No.29944761]

>>29935132
buy something you can write off in taxes to cover your ass and do the taxes

[Anonymous No.29945063]

>>29922766
15% on profit for each transaction.

[Anonymous No.29945125]

>>29944726
>wat is DEX/AMM

[Anonymous No.29945963]

>>29915967
only in america and only if you actually obey the jewish authorities.

[Anonymous No.29945985]

>>29945963
In Canada it’s the same thing lol

[Anonymous No.29946022]

>>29945963
can't you just buy certain kinds of stuff to write off taxes?

[Anonymous No.29946102]

>>29945063
if it's long term capital gains it has brackets, if it's short term then taxed as normal income rate

It heavily incentivizes minimizing your transaction count but that was definitely not what they wanted to do

[Anonymous No.29946191]

>click a "buy" button on a website
>click a "sell" button on that website some time later
GIMME DAT 37% FOR FREE

[Anonymous No.29946227]

>>29933941
It can take a while. I had it take up to an hour for BTC to get transfered.

[Anonymous No.29946281]

>>29945963
Other countries are so irrelevant that people only know anything about it and no other country.

[Anonymous No.29946291]

>>29945125
If you didn't wash with xmr they can still trace you

[Anonymous No.29946333]

>>29942625
I used bittrex and they saved everything. I think coinbase does too

[Anonymous No.29946426]

>>29932140
So how are you gonna cash out your gains. Trade 100k into xmr, turn it into millions. How do you cash out the rest and explain it

[Anonymous No.29946478]

>>29941519
I don't want to either but how?

[Anonymous No.29946602]

How do you guys explain your crypto gains at tax time?

I would think claiming that it was a gift from a foreign citizen is a workaround, but you can't do that if you have a security clearance. You can also claim that you found bitcoin from an old wallet, but that can be easily debunked by looking at the blockchain for like 5 minutes.

[Anonymous No.29946655]

>>29915967
>Land of the fee and home of the slave

[Anonymous No.29946696]

>>29916340
soi cuck really can succ

[Anonymous No.29946726]

>>29935079

You need to prove that transaction occurred though

[Anonymous No.29946764]

>>29916172
Not hard to note down prices at the moment of trade and use etherscan txn for record keeping.

[Anonymous No.29947090]

>>29946602
>How do you guys explain your crypto gains at tax time?
I point out to the tens of thousands of dollars I wrote off in investment costs for mining gear

[Anonymous No.29947363]

>fought tooth and nail because of British taxation
>ends up being cucked by taxation
Land of the "Free"

[Anonymous No.29947439]

>>29916702
Yeah I’m sure the chinks at binance are really staying on top of forwarding documents to the irs

[Anonymous No.29947479]

>>29935722
Checked and based

[Anonymous No.29947483]

>>29915967
convert stack to XMR

[Anonymous No.29948175]

>>29915967
>50k unrealised gain
>Stuck in binance ching chain shitcoin
I just want an Bitcoin without losing 32% of my hard earned gains

[Anonymous No.29948421]

>>29946426
You buy shit as more and more businesses accept coins.

You just buy shit.

[Anonymous No.29948522]

>>29921895
/thread

[Anonymous No.29949212]

>>29947483
>convert stack to XMR
and then what? lol
how do you cash out?

[Anonymous No.29949344]

>>29918370
>>29918370
top kek

[Anonymous No.29949462]

>>29948175
Just convert it to USDT or USDC and put that on a ledger.

[Anonymous No.29949623]

>>29949462
crypto to crypto is considered for US tax purposes still

[Anonymous No.29949672]

>>29949462
Taxable kek

[Anonymous No.29950369]

>>29949623
>>29949672
Yeah, but the tax is less and you don't have to worry about chang rug pulling it out from you

[Anonymous No.29951027]

>buying on coinbase
ngmi

[Anonymous No.29951796]

>>29931246
dude what the fuck...
40% of EVERY SWAP?
That cannot be real. If that was true, I would owe more than my entire net worth to the IRS and I havent even cashed out or spent a dollar

[Anonymous No.29951923]

>>29915967
>Living in the USA
ngmi

[Anonymous No.29952021]

>>29915967
It is fake internet money. 1 fake internet money is still 1 fake internet money until you cash out. There is no profits.

[Anonymous No.29952302]

>>29915967
Why not use BOR's tunnel function not to change "crypto"?

[Anonymous No.29952872]

>>29915967
Ausfag here looking at moving my shit to a shell company in a tax haven. Cayman Islands looks best, any ideas?

[Anonymous No.29953318]

This whole thread is larp. No one is really doing it

[Anonymous No.29953505]

Just never cash out?

[Anonymous No.29953629]

I’m not paying a single fucking dime to those fucking KIKES.

[Anonymous No.29954026]

>>29953629
yeah same unless im cashing out enough money to start buying a house and a nice car or something sure but if im just barely scraping fuck off wtf

[Anonymous No.29954507]

>>29918370

[Anonymous No.29954560]

Yes.

[Anonymous No.29954650]

>>29953629
This. I would go to jail before I pay taxes on my fucking crypto. Then when I get out I am going to buy an island outside of the US with my crypto profits that accumulated while I was in jail. Good luck arresting me then.

[Anonymous No.29954797]

>>29935132
You can exchange crypto to fiat via escrow on crimenetwork.co

[Anonymous No.29954847]

>>29931246
Yes, but since when has government been useful? Those kikes do this shit on purpose to fuck us over

[Anonymous No.29955912]

>>29915967
DOES ANYONE ELSE HERE LIVE IN NY STATE?

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA LITERALLY EVERYTHING IS GETTING BANNED AND TAXED FASTER THAN I CAN MOVE

id honestly just be a good goyim and pay all my taxes on the dot if they would fuck off and stop banning it

[Anonymous No.29956023]

>>29918821
absolutely not, only crypto to fiat is taxable

[Anonymous No.29956081]

Can I simply calculate what all my gains were on every transaction, but instead of dealing with all the bullshit paperwork just make up a couple of transactions that will cover all the gains and losses?

[Anonymous No.29956123]

just move to st kitts like roger ver did. 0 tax

[Anonymous No.29956187]

>>29922419
no difference

[Anonymous No.29956265]

>>29924561
wages are higher than mostly anywhere else in the world. I'd move in the US in a heartbeat even if they decided upon a 50% income tax because I'll end up making more money waging in a warehouse than I do now

[Anonymous No.29956281]

They have to get their taxes now while they still can get away with robbing people.

Soon enough no one will pay that shit anymore anyways.

[Anonymous No.29956414]

>>29931160
somehow /biz/ retards can't comprehend that

[Anonymous No.29956429]

>>29956281
fucking jewnited states would rather just stop people from buying and making money then not get their cut

lliterally the only other place in the world that banned crypto is the middle east. yes thats how much fucking freedom you get here!! fucking freedom land on the same level as the middle east. except we dont fucking neck our women for acting like whores so its worse

[Anonymous No.29956521]

>>29916268
its not gains until you convert to a real currency

[Anonymous No.29956571]

>>29931942
What ate they gonna tax me in? Cardano?

[Anonymous No.29956584]

>>29956521
real talk if you wanted to actually do it the legal way and you got your gains from swinging in a seperate exchange couldnt you just take your total gains and convert them from long term to short term capital gains taxes and just use that amount? keeping track of every single fucking swap is just fucking insanity

[Anonymous No.29956806]

Binance are based in Malta or Singapore I think. Why would they give info to the IRS?

[Anonymous No.29957910]

>>29942569
*puts you in jail*
Lol

[Anonymous No.29958029]

>>29916172
A public ledger where everything stays and an institution who's sole purpose is to take your money

[Anonymous No.29959123]

>>29956584
atleast in Germany they dont give a fuck as long as you give them your total yearly profits or losses

[Anonymous No.29959183]

>>29956806
Binance.com does not operate in the US. Americans use binance.us and it sure as shit reports to the IRS.

[Anonymous No.29960390]

FUCK YOU PEKORA

[Anonymous No.29960420]

fuck you peko

[Anonymous No.29960444]

DISLIKED

[Anonymous No.29961015]

>>29922419
I think the difference is that ETH > X is taxed as well as X> ETH

[Anonymous No.29961053]

Anon check this out

$MCM

Future of crypto

[Anonymous No.29961260]

>>29922419
the difference is that once you get eth back, you still owe taxes when you actually realized no gain in usd.

[Anonymous No.29961269]

>>29918537
I could bill you for a web training or some shit, while I send to you bnb/eth on the sidelines. I'm not a burger BTW.

[Anonymous No.29961497]

>>29915967
>he didn't know

[Anonymous No.29961545]

>>29951796
kek you're fucked

[Anonymous No.29962396]

>>29915967
how they gonna know tho?
just send it thru monero or somethin

[Anonymous No.29962505]

Land of The Jew, Home of the Slaves

[Anonymous No.29962596]

I owe over $700 and I've never sold for USD.
I'm so poor I'm struggling to pay my bills and now I'm not getting any money back from the IRS because I owe.
Surely my investments will take off and I'll have money in the end right?