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/biz/ - Business & Finance

File: 185 KB, 1280x720, got-crypto.jpg [View same] [iqdb] [saucenao] [google]

IRS Anonymous Mon Dec 9 17:39:56 2019 No.16512709 [Reply] [Original]

At any time during 2019, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?

>>	Anonymous Mon Dec 9 17:41:08 2019 No.16512717 File: 8 KB, 213x250, irs.jpg [View same] [iqdb] [saucenao] [google] >blocks your path

>>	Anonymous Mon Dec 9 17:41:19 2019 No.16512719 >>16512709 imagine being an amerimutt kek

>>	Anonymous Mon Dec 9 17:42:16 2019 No.16512724 What kind of interest do they mean? Because "send" is vague enough transaction that I'm not sure

>>	Anonymous Mon Dec 9 17:42:22 2019 No.16512726 What if I don't file for 2019 and roll the dice on a 2020 bull run to pay for fines?

>>	Anonymous Mon Dec 9 17:42:41 2019 No.16512729 >>16512709 hhahhahahahah owned

>>	Anonymous Mon Dec 9 17:42:43 2019 No.16512730 >>16512709 Idk I'm not a lawyer idk what that means.

>>	Anonymous Mon Dec 9 17:42:51 2019 No.16512731 >land of the free >can't even trade shitcoins without getting assraped by the gubmint

>>	Anonymous Mon Dec 9 17:43:16 2019 No.16512736 File: 228 KB, 860x815, 00934B48-9E94-428F-BE1E-737873E8B2A9.png [View same] [iqdb] [saucenao] [google] >>16512709 >tfw can’t lie because Kikebase will rat me out

>>	Anonymous Mon Dec 9 17:46:03 2019 No.16512754 Anyone who received the free coins from coinbase better check that box and pay up.

>>	Anonymous Mon Dec 9 17:47:02 2019 No.16512763 >>16512709 "No"

>>	Anonymous Mon Dec 9 17:47:39 2019 No.16512770 File: 109 KB, 1424x766, 9873894.jpg [View same] [iqdb] [saucenao] [google] zoomers btfo

>>	Anonymous Mon Dec 9 17:48:01 2019 No.16512776 I am a neet who bought $400 worth of chain link back in March with Christmas and birthday money what do? I've been a neet since 2017 and haven't filed since

>>	Anonymous Mon Dec 9 17:48:35 2019 No.16512780 we can argue that link is not exactly a virtual currency am i right?

>>	Anonymous Mon Dec 9 17:49:01 2019 No.16512784 better report those grand theft auto online shark card purchases zoomies

>>	Anonymous Mon Dec 9 17:49:14 2019 No.16512789 >>16512709 >2019 >land of the free

>>	Anonymous Mon Dec 9 17:51:26 2019 No.16512805 >>16512776 If you only bought and haven't traded or sold then you don't have to say yes or file form 8949

>>	Anonymous Mon Dec 9 17:51:55 2019 No.16512808 What is a virtual currency?

>>	Anonymous Mon Dec 9 17:53:01 2019 No.16512817 >>16512805 well I bought btc on coinbase then transferred it to binance

>>	Anonymous Mon Dec 9 17:53:30 2019 No.16512820 >>16512805 Imagine knowing the form # to file anything

Anonymous Mon Dec 9 17:53:36 2019 No.16512821

>>16512808
>What is a virtual currency?

Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. In some environments, it operates like “real” currency (i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance), but it does not have legal tender status in the U.S. Cryptocurrency is a type of virtual currency that utilizes cryptography to secure transactions that are digitally recorded on a distributed ledger, such as a blockchain, DAG, or Tempo.

Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as “convertible” virtual currency. Bitcoin, Ether, Roblox, and V-bucks are a few examples of a convertible virtual currency. Virtual currencies can be digitally traded between users and can be purchased for, or exchanged into, U.S. dollars, Euros, and other real or virtual currencies.

>t. https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies

>>	Anonymous Mon Dec 9 17:53:59 2019 No.16512828 >>16512709 okay this is epic!

>>	Anonymous Mon Dec 9 18:00:38 2019 No.16512892 >>16512709 so if you check yes, do they send you a form for it?

>>	Anonymous Mon Dec 9 18:03:48 2019 No.16512926 >>16512892 also buying crypto with fiat isn't taxable, but sounds like it would fall under "otherwise acquire",

>>	Anonymous Mon Dec 9 18:06:06 2019 No.16512948 >>16512892 No. If you have to check yes then you also have to file a form 8949 and form 1040 (schedule d) You've had to file those forms if selling or trading crypto since 2014

>>	Anonymous Mon Dec 9 18:13:09 2019 No.16513012 >>16512948 Nobody cares fuck off shlomo

>>	Anonymous Mon Dec 9 18:24:06 2019 No.16513089 >>16512719 It sucks.

>>	Anonymous Mon Dec 9 18:30:55 2019 No.16513146 >>16512709 Checking "No" could completely screw you. The sensible thing to do is to extend you 2019 tax return until October 15. Watch what happens with audits and hope link goes to $50+ and cash out before you report.

>>	Anonymous Mon Dec 9 19:18:32 2019 No.16513478 File: 486 KB, 600x439, 40C795B7-F7CA-466F-963A-5FA510E8CF59.png [View same] [iqdb] [saucenao] [google] >>16512709 ENOUGH

>>	Anonymous Mon Dec 9 19:34:09 2019 No.16513591 Luckily I don’t invest in cryptocurrencies, only utility tokens like chainlink and tezos

>>	Anonymous Mon Dec 9 19:37:48 2019 No.16513616 >>16512709 Fascism

>>	Anonymous Mon Dec 9 19:45:40 2019 No.16513688 >>16512709 >not filing all your trades >not paying a paltry tax >not collecting capital loss tax breaks on your losses >not being able to cash out, ever I don't get it, you can literally do crypto taxes automatically, it isn't complicated anon

>>	Bonus Points & Miles Mon Dec 9 19:52:50 2019 No.16513767 Wouldn't credit card points, air miles, and game tokens, etc. be roped into this as well? Read the terms of each action... Points can be exchanged for $$$. Fits into the definition of Virtual Currency. Guess these are now taxable.

>>	Anonymous Mon Dec 9 19:54:12 2019 No.16513780 >>16512805 >file form 8949 >oi, you got a loicense for those shitcoins, mate?

>>	Anonymous Mon Dec 9 19:54:14 2019 No.16513781 what's the deal with this? if I made less than 10,000 from job+crypto do I have to file?

>>	Anonymous Mon Dec 9 19:57:56 2019 No.16513806 >>16513781 u realize u only stand to gain from filing if ur in the lowest bracket, right? "business" board full of completely retarded kids who can't even spend 5mins DYOR

>>	Anonymous Mon Dec 9 19:59:17 2019 No.16513816 >>16512805 But you did "send" them to your wallet, right?

>>	Anonymous Mon Dec 9 20:07:53 2019 No.16513879 File: 51 KB, 384x385, 16687.jpg [View same] [iqdb] [saucenao] [google] Nocoiners win again. I can't wait to see all you faggots go to jail for exchanging your fake internet money scam.

>>	Anonymous Mon Dec 9 20:27:35 2019 No.16514063 >>16513591 Based

>>	Anonymous Mon Dec 9 20:37:51 2019 No.16514168 >>16512817 We all did.

>>	Anonymous Mon Dec 9 20:49:47 2019 No.16514286 >>16512821 >Roblox holy shit the IRS is literally taxing zoomer in-game currencies, so many families finna get audited.

>>	Anonymous Mon Dec 9 20:55:06 2019 No.16514353 File: 65 KB, 796x744, 1518254091944.jpg [View same] [iqdb] [saucenao] [google] >>16512709 >2019 >Using exchanges >Not using localbitcoins

>>	Anonymous Mon Dec 9 20:56:09 2019 No.16514365 File: 8 KB, 250x202, 1528110933107.png [View same] [iqdb] [saucenao] [google] >>16512821 >Roblox

>>	Anonymous Mon Dec 9 20:58:28 2019 No.16514409 File: 118 KB, 915x762, 1557700739518.png [View same] [iqdb] [saucenao] [google] >>16513478 >>16513616 This

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