[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 58 KB, 976x850, _91408619_55df76d5-2245-41c1-8031-07a4da3f313f.jpg [View same] [iqdb] [saucenao] [google]
18657929 No.18657929 [Reply] [Original]

I made 100k from bitcoin futures then lost it all. How do I file my taxes?

>> No.18657944

The funny part is you're going to be on the hook for $100K in taxes even though you lost it all. That's actually not funny, it's sad. It shouldn't be like that, but it is.

>> No.18658011

>>18657944
Retard. That's not how it works unless you gained it one year and lost it the next.

>> No.18658022
File: 79 KB, 482x427, 1533205981886.png [View same] [iqdb] [saucenao] [google]
18658022

>>18657944

>> No.18658114

The worst part is having to tell your accountant to his face all the stupid shit you did this year

>> No.18658120

>>18657944
is this really how it is in burgerland? atleast in swedistan we can cancel out our winnings with our losses in taxes

>> No.18658131
File: 181 KB, 661x1700, 1018875977613.png [View same] [iqdb] [saucenao] [google]
18658131

>yfw

>> No.18658189

>>18657929
>lost it all
you should kill yourself

>> No.18658253

>>18658189
yes

>> No.18658298

>>18658120
No capital gains are offset by capital losses. It’s a dumb meme to prevent people from cashing out their capital gains.

>> No.18658352

>>18658120
It works that way here too but only in the same tax year. If he gained 100k in crypto last year, he owes taxes on it, assuming you are trading and not just holding. You can't claim losses this year against the year prior. It's easy to mitigate if you know how it works but I suspect half the people on here don't and are asking to get fucked, especially if they "make it".

>> No.18658653

do amerimutts really need to declare taxes on crytpo?
>muh land of the free

>> No.18658798

>futures
60% ltcg / 40% stcg

>> No.18658852

>>18658011
>>18658352
this,
people need to realize that after each year if you had gains immediately withdraw at least enough to cover taxes, but most people don't even know and some don't give a shit a keep gambling with IRS' part of their money

>> No.18658991

>>18658653
Well, since all of the exchanges send out 1099's, they're kind of reported for us. What are you gonna do?

Also, land of the free had always been a bit of a misnomer. It originally meant wealthy people who live here can do what they want without asking a European monarch if it was ok, and it was revised after the war of 1812 to mean, wealthy people who live here can do a select list of things without asking a European monarch if it was ok; then, it was further reduced during Roosevelt, Wilson, and Roosevelt to mean, you can talk about not liking taxes a little bit (don't overdo it though or the irs puts a "P" on your file. )