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/biz/ - Business & Finance

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26519398 No.26519398 [Reply] [Original]

>try to swing trade
>sell the top
>owe taxes on 20-30%
>you now have to wait for a crash bigger than 30% to make even a penny
how are there successful swingies? it makes no sense, there’s no way you could make money like that.

>> No.26519434

>>26519398
They dont live in america.

>> No.26519588
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26519588

>> No.26519601

or you could live in portugal and pay zero taxes on crapto trades lmao

>> No.26519727

>>26519398
It's simple anon, I never pay

>> No.26520512

>>26519398
>>owe taxes on 20-30%
You owe taxes on 30% of your net gain. Means you keep the principal + 70% of your gains.

If your asset went up 10%, you have to pay taxes of 30% of those 10% and you are 70% of those 10% in the green.

>> No.26520613

>>26519398
Successful swing traders are a myth, fren. 90% of biz fags who have made it did it through investing and hodling a stack of non-shit coins (BTC/ETH/LINK).

>> No.26521146
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26521146

>>26520613
LINK not needed though, literally.

>> No.26521237

>>26521146
Remind me again how many years you've had

>> No.26521262

>>26519398
Imagine still living in America, ngmi because they won't let you make it pleb.

>> No.26521300

>>26521237
I knew about Link at $2 but didn't have any money (HS); by the time I had any money I couldve made the same gains with RSR (and that I did).

>> No.26521313

>>26519398
Anon I panic sold my whole stack and rebought minutes after. I lost 10% and now owe 40% taxes on the gains....

If this shit drops I can go broke.

>> No.26521383

>>26521300
Like Rubic and Bao did equivalent oldfag linker gains in a week lol. Stop overrating your literal useless JSON parser. It has no usecase and is vaporware. This isn't to say its price wont go to $30.

>> No.26521703
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26521703

>>26519398
>Live in America
>Crypto exchanges report directly to the IRS
>Get fucked

>> No.26521801

>>26519398
Because you don't swing trade if you're just gonna do it once...
Trading is taxed as income. If you want to get into trading be prepared to owe taxes as if you were doing a job.

>> No.26522085

>>26519398
That's now how taxes work. It's net profit not gross revenue. The same documents that show what you made on the sale should show what you paid originally.

Don't be retarded.