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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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25457779 No.25457779 [Reply] [Original]

I'll just leave this here...

>> No.25457807

>>25457779
Hi Paul, we can see the date.

>> No.25457846

>>25457779
haha american poorman

>> No.25457850

Who's getting hit with these?

>> No.25457876

>>25457779
> Virtual currency is considered property
No... it's not. Virtual Currency is simply the price of a solution for a complicated computer algorithm. It has no intrinsic value beyond what people would pay for the assumption the computer code is worth.

>> No.25457913

>>25457850
Nobody. This was in 2019 and simply a response to the 2017/2018 boom as the US desperately wanted to tax gains for something they had not regulated so tried to claim it as 'property'.

>> No.25457930
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25457930

Send back with detailed instructions on how to turn it into a muhvuhrus mask.
They love stuff like that.

>> No.25457940
File: 338 KB, 538x572, 1609113336322.gif [View same] [iqdb] [saucenao] [google]
25457940

J U S T
U
S
T

>> No.25457972

>>25457779
>dated the seventh of the nineteenth month
fake and gay

>> No.25457996

*BRAAAAAAAAAAAAAAAAAAAAAAAAAAAAAPPPPPPPPPPFFFFFFFFFFT*
there you go sir

>> No.25458035

>>25457850
coinbase reported everyone who bought and sold over $10,000

>> No.25458069

>>25457779
(((They))) got you lmao

>> No.25458078
File: 12 KB, 240x240, 1557524663084.jpg [View same] [iqdb] [saucenao] [google]
25458078

>>25457972

>> No.25458207

Last year I had like $200 gains on RH and I didn't realize they'd be sending me a 1099, so I filed my taxes. About a week later I got the 1099. I did a little research and decided it probably wouldn't be worth the effort to try to make a tax filing amendment or whatever the fuck. I was hoping I'd hear from them by now but I haven't yet.

Also over the years, I'd deposited about 6k to coinbase, moved it around btwn kucoin and binance and lost 90% just to buy LINK and recover it. I brought approximately the same amount of money back to coinbase once it was all said and done. I'm hoping they don't inconvenience me too much with all that

This year I was holding some stocks thru the march crash and I sold them off, then got rekt when my daytrading limit triggered after I started dabbling in options. So I was down 40% and then painstakingly traded back up to breaking even. I'm a little bit nervous that a)since I didn't report prior years of trading, those losses before the gains may not be taxed accordingly and b) I definitely sold some XLE stock before making losses on XLE options so I hope that, or other similar scenarios, won't fuck me because of the wash trading rule

Should I hire an accountant now or just wait and see what happens? I don't really have income right now so I'm thinking of just dealing with it as it comes

>> No.25458255

>>25457779
>19181_
>PAUL H_
OH NOOOOO

>> No.25458359
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25458359

>>25457779
Hahaha, get rekt kike golem mutt. That's what you deserve.

>> No.25458395

>>25457807
based autistic

>> No.25458447
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25458447

>>25457913
"It won't happen to me"

>> No.25458579

>noncrypto virtual currencies
gonna send them every wow transaction ive made in the past 15 years

>> No.25458614

>>25458255

17181
PAUL H____EY

SAN JOS______________

>> No.25458829

>>25457779
why r u leaving it here?

>> No.25458992

I got one of those recently. I literally bought $20 worth of Bitcoin in 2017 and they had that on file somewhere. When I responded with that info, they were like "oh, okay."

It's automated.

>> No.25459037

>>25457779
seething

>> No.25459135

>>25458579
Buyingn a bunch of Wuhan gold in wow classic
Remember to tip the US government

>> No.25459786
File: 94 KB, 640x639, 1606590312518.jpg [View same] [iqdb] [saucenao] [google]
25459786

>>25458207
>RH 1099
It's not difficult to go back and fix it. You just file a Form 1040X along with whatever schedule (I guess a Sched D) you need to report your investment income.

If you didn't owe taxes at alll, or if this wouldn't change your tax liability, then it's an easy and cheap way to avoid potential trouble. If it does change how much you owed, the penalties and interest will be much lower if you do it now than if you do it five years from now.

OTOH they probably won't catch it or care, unless they run into another irregularity and start digging into you more closely.

>Coinbase
Well, there's another irregularity. . . .

They seem to have a hardon for crypto, and Biden is already planning on adding more IRS agents to investigate people.

>XLE stock, wash trading rule
IIRC that only applies if you took a loss on closing your XLE position and then bought back in within 30 days. If you had a gain, it definitely doesn't matter, you can buy, make a gain, sell, rebuy, make another gain, sell again, repeat multiple times, and that's fine. It's only if you try to take a loss before a rebuy that they lose their shit.

>> No.25459976

>>25459786
thanks for the response
do you think I should get in touch with a CPA? I'm short on liquid right now w/ no income, do you think it would be worthwhile?

>> No.25460252

>>25457913
basically a nigerian prince tier scam attempt