/biz/ - Business & Finance

>>56459930
I think you can still download those records from your trading platform e.g. Coinbase. You definitely will have to pay penalties. Maybe try only reporting 2023 and wait to see what happens

>>56459930
The blockchain ledger is transparent right?

wtf are you talking about? they dont care so long as you make up some realistic numbers about how much you bought for and how much you sold for

>>56459930
No because I use cointracking to keep a record of all my transactions so I can pass them onto my accountant every year who makes sure I'm paying the right amount of tax on my capital gains.

>>56459930
I've unironically paid my taxes
gcr told me to
it hurt but the weight off my shoulders is much better

>>56459930
No because I never touched a shitcoin or sold any bitcoin.

Wait a minute, there's a statute of limitations on tax fraud (surprisingly). Maybe you'll be OK if you just keep holding until 2027/2028.

My tax records are actually fully auditable, because I anticipated this problem. If you haven't done so, you are a fucking idiot.

they never defined any rules

>btc takes off
>Le Taxes Or Prison posting appears again
Wow bros I am scared I will stop crypto now and join the army to save israel

I paid a truthful amount of taxes every year. Ball is not in my court on all of those rugs and memecoins.
Nothing to be done.

>>56459930
I pay my taxes accurately and I even plan out major transactions during a year to shoot for as close to 0 profit on paper as possible, so as not to make any waves

>>56460059
Doesn't apply to Americans. The IRS will make sure that they get raped by prison niggers no matter how much time has passed since they neglected to report their shitcoin transactions.

>>56459993
Wait do you freedom bros actually have to pay tax even if you don't sell?

Just report a cost basis of zero and say you forgot where you bought them. It's either that or jail rape.

>>56459930
You are not man enough for prison faggot. Hetero like me will use you up

>>56459930
I lost my keys in a boating accident and can no longer access those funds reported as a total loss.

>>56460209
Like shitcoin to shitcoin? Yes, that's a transaction that is taxed.

>>56460209
They make you afraid to take gains or make swaps because they purposely keep crypto tax reporting as nightmarish as possible for the plebs who can't afford accounts to figure out loopholes and loss harvesting for that shit.

>>56459930
no, literally nobody has gone to jail over this shit besides the biggest grifters in the space. they do not have the manpower to go after millions of people not reporting shitcoin trades. the IRS is a lame dog still relying on the barks of its youth to scare people off.

>>56459930
The blockchain is a public ledger, if the feds wants those transactions they can go find them

>>56459930
>No faggot. Are you? In Minecraft!? KEKA SAWRX XD

I'm not touching my stack until the statute of limitations is reached on the thitherto transactions. I'm just not. The sins of my youth will be absolved and I will be rich.

>>56460290
I thought euro bros got shit on for their taxes. What a shit show.

>>56459930
>cashout
anon, how? i just tried using my normal cex's and they're all out of fiat liquidity. we're about to witness the biggest exit scam of all time. i'm surprised no ones talking about this yet.

>>56460533
AAAAAAAAAAAAAAAAHHHHHHHHHHHH

>>56459930
When I started selling my VINU, I distributed the money using most of my bank accounts. extracting little by little, also using my wife's bank accounts as well, that's how I managed to sell almost $300k worth of VINU a year ago

>>56459930
No. I’m a bong and our prisons are literally so full they are now sparing rapists and burglars from jail. Also, if I did get sent to prison for tax evasion it would likely be a category D prison which are basically like holiday parks here where you can come and go as you please (with supervision initially).
Also, fuck this country and this government. I am marginalised as a white male here and the people’s taxes go towards housing tens of thousands of illegal immigrants who are invading the country via banana boats, while the gov are completely eradicating capital gains tax-free limits and fucking over the common man in every possible way. They will never get my crypto money.

>>56460621
how much per month?

Lol. Lmao, even.

I live in a place where all I have to report is how much I initially invested and how much I cashed out. I get taxed on whatever I cash out.
I don't understand why some other countries have such a weird taxation system where you have to keep track of all transaction you do.

>>56459930
Advice: establish citizenship in a country that does not tax crypto to crypto trades. There are plenty of them.

>>56459930
Im afraid of being homeless, which it's a real possibility