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16326132 No.16326132 [Reply] [Original]

I just found out that any fork on BTC that ever happened you have to pay tax on. At the value it was at the fork not now!!!! Literally everyone holding Bitcoin for the last few years is fucked and have to pay more tax than the value of their Bitcoin now.

https://www.natlawreview.com/article/stick-fork-it-irs-issues-updated-guidance-tax-treatment-cryptocurrency-forks-and

>> No.16326197

>>16326132
You burgers are funny

>> No.16326206
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16326206

>>16326132
I just found out that I lost all my crypto in a boating accident.

>> No.16326228

>>16326132
That's why you should have kept your coins in a wallet based outside of the US that supported forks and allowed you to split/claim your coins, and not on an exchange.

>> No.16326230
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16326230

>> No.16326237
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16326237

laaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaand of the freeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

>> No.16326245

>>16326228
If you a US citizen that would make zero difference. You can't disown an airdrop, its classed as a gift whether you want it or not.

>> No.16326252
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16326252

I lost everything leverage trading on a boat in international waters

>> No.16326260
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16326260

>>16326245
>You can't disown an airdrop

>> No.16326276

>>16326132
Burgerland IS NOT FREE

>> No.16326292

>>16326252
He thinks it matters where Mutts live!
>You have no idea how bad it is

>> No.16326293

>>16326132
wait, what? Can someone dumb down what a fork is to me?

>> No.16326296

>>16326132
You pay taxes on gains when you trade from one crypto to another, or sell to USD.

A fork which you have never traded or sold is therefor not taxable.

Pay taxes on your gains like a responsible citizen and the IRS is not going to try to bend you over with vague loopholes anyway.

>> No.16326405

>>16326296
wrong, a fork is taxed as an airdrop and is attached whether you want it or not to your address. If you are on an exchange when a fork occurred that at the snapshot of the fork you received an airdrop. This is IRS guidance.

>> No.16326423

>>16326293
it's like a spoon but pointy

>> No.16326438

This is silly, all it takes to create a fork is an edit to the client that is incompatible with the protocol.

I could fork bitcoin every 10 minutes if I wanted.

>> No.16326628

The US is a fucking shithole country.

>> No.16326823

>>16326132
I just found out that taxation is theft and that burgerland money isn't real.