you ARE paying your taxes biz, right? Right?

[Anonymous No.26543560]

[Anonymous No.26543581]

Taxes? I didn't know I had to pay no taxes officer! You can't charge me if I didn't know!!

[Anonymous No.26543635]

Tyrone and his 10 bastard children need to eat anons, please pay up.

[Anonymous No.26543658]

>>26543560

Taxes created 40 million hostile niggers and until they are all gone I am not paying shit

[Anonymous No.26543663]

>>26543560

[Anonymous No.26543707]

>>26543560
sorry, Chaim. You'll have to find money for isreal somewhere else.

[Anonymous No.26543722]

Do you only have to pay taxes if you sell crypto for USD? Otherwise that is ridiculous

[Anonymous No.26543818]

>>26543560
Yes officer, I pay my taxes on my gains from every crypto trade, and again the 50% when I withdraw! Thank you for taking 75% and giving it to shitskins, have a nice day!

[Anonymous No.26543878]

>>26543722
As OP's post states, look at the different "Schedules". Mining and staking income included.

[Anonymous No.26543883]

>>26543722
If you're in the US or UK it's on every transaction or disposal of a crypto asset, so every trade (not sure about other countries). In reality wouldn't you just report it when you cash out? Who is really going to cash out some of their crypto to pay for tax on gains made trading crypto for crypto (which would generate more taxable events)?

[Anonymous No.26544022]

>>26543883
Sorry had a retarded moment, of course you'd just pay taxes at the end of the financial year. But the system is still really at odds with how crypto works. For example to even buy Link, which is a multi-year hold for me, I have to buy ETH first to exchange for it which is taxable.

[Anonymous No.26544671]

>>26543560
Only white cucks pay taxes.

[Anonymous No.26545262]

>>26543560
FUGGGG :DDDD

[Anonymous No.26545369]

>>26544022
Be realistic, if you buy eth and instantly change it for link you dont create gains that are taxable

[Anonymous No.26545399]

>>26543560
I have a question, I have been buying since 2019 but did less than 10 trades (and lost $50), ever since I've just been buying and holding. I don't have to report that i've been buying until I sell and make a noticeable profit right?

[Anonymous No.26545409]

>>26543560
Why the fuck would anyone report income earned from DeFi, staking, airdrops, etc

[Anonymous No.26545709]

>>26543560
>report stake rewards on your hotdog coin

How even, it's unrealized until you cash it and when it is cashed just tax it toward your income bracket on short term and capital gains on long term.

[Anonymous No.26545940]

>>26543560

This is misinformation. No crypto requires filling out a SCHEDULE B. IRS feeding you bullshit it maybe it’s the buggy crypto tax software. They shill on this garbage site. Fuck you pajeets.

[Anonymous No.26546043]

>>26543560
Trying to report defi gains is going to be a pain in the ass for my CPA

[Anonymous No.26546138]

/\/0

[Anonymous No.26546217]

>>26543560
I'm planning to get "scammed" as soon as my bags moon.

[Anonymous No.26546220]

>>26545399
Nobody knows the tax code, not even the IRS. It's basically a game of "how many amazon gift cards can I buy with bitcoin before it's suspicious"

[Anonymous No.26546266]

>>26543581
>Post saved as prood you knew

[Anonymous No.26546280]

Say I get paid under the table at work so I don't file taxes normally. I have a lot of crypto but haven't withdraw any into fiat, do I have to file anything bros?

[Anonymous No.26546361]

Seriously though I've been thinking this the past few days...

You have a bag that moons, you don't want to pay taxes on making profits.... just transfer it to some other wallet on another computer from a different ip and if the taxman comes, say "I invested in crypto but got scammed so me no has crypto no more officer". What can they do about it? It's only taxable when it's traded anyway.

[Anonymous No.26546419]

>>26543581
Only works if you're a Clinton, sorry.

For us plebs, ignorance is no excuse.

[Anonymous No.26546434]

Uh oh

[Anonymous No.26546453]

>>26545409
be a good goy

[Anonymous No.26546541]

Realistically you only have to go through the effort of paying crypto to crypto taxes if you have a large amount, like over 300k+. At that level its probably better to pay the IRS to not get fucked 5 years from now. But for now, I don't think the IRS would care if you only paid taxes on cashing out on a fiat offramp

[Anonymous No.26546548]

>look on my wallet
>200+ transactions in the last 3 months
Uh.... guys?

[Anonymous No.26547553]

>>26546548
"i lost my piece of paper"

[Anonymous No.26547569]

>>26543560
of course. i want to be able to sleep soundly

[Anonymous No.26547631]

>>26543560
>report DeFi income
lmao

[Anonymous No.26547661]

To be blunt, if you don't pay taxes, then you cant make large purchases from the assets. And unless you're a poorfag, there's plenty of ways to reduce tax burden to reasonable levels.

[Anonymous No.26547827]

>>26543560
No I live in a tax haven

[Anonymous No.26547866]

>>26546217
kek
First you lose all your guns in a tragic boating accident, next you lose all your crypto in a tragic scamming accident

[Anonymous No.26547893]

>>26543560
XDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD

[Anonymous No.26548096]

>>26546548
99% sure IRS won't give a fuck about each transaction, ain't nobody got time to do all that mth, just more so the actual payout especially if you made big gainz.

[Anonymous No.26548105]

>>26547553
Oh, so that qualifies for the convenient “zero dollar cost basis” rule :^)

[Anonymous No.26548300]

Guys genuinely how do I pay my taxes? If I cash out 50k, is there a way to know how much I need to set aside? Can I pay it right away? I'm literally a retard who lives with his mom.

[Anonymous No.26548388]

>>26543635
What? Eating dirt like their third world cousins isn't good enough for them?

[Anonymous No.26548458]

>>26548300
Combine your income with any crypto you cashed into fiat. You get taxed for any additional income over 40k a year as a single filer.

[Anonymous No.26548510]

>>26548300
Assuming you live in burgerland. Your first 40K of income are not eligible for capital gains tax. So if you earn 20K at work, and cash out 20K in gains, you pay no capital gains tax. Everything beyond that save 30%. Take 1/3 of all your profits and park it in a stablecoin (you can still lend it out for yield if you're into that)

[Anonymous No.26548625]

>>26543560
live in dubai, whats a tax

[Anonymous No.26548980]

>>26548625
how much money do you need to live in Dubai?

[Anonymous No.26549468]

>>26546541
This guy is probably right. As long as you are a small fish you are probably safe paying the gains just from cashing out. There are millions of people working for tips which are taxable and the IRS don't go after them or the guy mowing ur lawn for 30 bucks

[Anonymous No.26549657]

>>26546541
Nah, fuck that. I'm only paying taxes on crypto-to-fiat, period. As long as you don't do something stupid like do daytrading on a KYC'd exchange like coinbase, you're fine. tax on crypto-to-crypto trades on places like uniswap or non-KYC'd CEXes is practically unenforceable.

[Anonymous No.26549905]

>>26548300
Honestly your best bet is to just buy some tax software and fill out all your forms of income on it. This will do state tax and shit too and you can see what you'll really owe that year. For the crypto forms, get them automatically generated by cryptotrader.tax after you link all your accounts.

[Anonymous No.26549954]

[Anonymous No.26550003]

Staking income lmao

[Anonymous No.26550021]

SELECTIVE CAPS IN OP

YOU ARE POSTING
IN A GLOW NIGGER
THREAD

REPORT AND HIDE

[Anonymous No.26550056]

>>26543560
Sure, GLOWIE! Kek

[Anonymous No.26550138]

>>26543818
lmao, based

[Anonymous No.26550310]

>>26548510
Only if it's long term.

[Anonymous No.26550458]

>>26545399
At the end of the year you have to report your gains or your losses even if it is 5 dollars. Just like you have to report the interest from your savings account even if its a dollar

[Anonymous No.26550609]

>>26550458
This is not correct. You don't have to report interest if less than $10. You don't have to even file a tax return if you made less than $12k

[Anonymous No.26550626]

>>26545399
You are correct. If you're just holding you don't have to report shit. That's called an unrealized gain and so far they haven't figured out a way to tax that.

[Anonymous No.26550772]

>>26543560
I have not turned a single crypto of mine into cash that I withdrew
Am in the clear

[Anonymous No.26550843]

>>26550772
What exchanges did you use? Technically you're required to pay tax on any crypto to crypto trade. Yes it's cucked, theoretically the IRS could root through all the blockchains and see your trades, but that won't happen because they don't have enough manpower

[Anonymous No.26550934]

>>26550609
>>26550626
>>26546220
Thank you bros :)

[Anonymous No.26550996]

>>26545369
wrong. it is absolutely a taxable event.

[Anonymous No.26551375]

>>26550843
>that won't happen because they don't have enough manpower
These things are mostly automated these days. If they have your wallet and name from cuckbase, and proof of numerous purchases, they can just plug in your wallet and get a high level view of what's going on.

but if their tools are as shitty as everything available to consumers, it's going to pop up with dozens of errors and exceptions no matter what happens. i'm really wondering how hard people are going to get boned through no fault of their own, but because the IRS incorrectly configured their blockchain scraper.

[Anonymous No.26551388]

>>26550996
It is but I believe the gas cost loss is also a taxable event.

[Anonymous No.26551608]

>>26549657
aren't they going to fuck you over when you deposit your ETH onto goybase and goybase leaks your address to the IRS and the IRS goes on etherscan and finds out you made 900 uniswap trades 5 years ago? Especially if 1 ETH = 100k or something 5 years from now.

[Anonymous No.26551690]

>>26543560
The IRS can suck and tug my balls, one by one. Fuck em.

I do pay my taxes though, for now, because I don't have the funds to get away with breaking the law yet.

[Anonymous No.26551710]

>>26546280
Technically you don't have to pay shit till guys with guns come to your house for it. And if you own guns then you never have to pay.

[Anonymous No.26551857]

>>26543560
Yes of course rabbi! I'm a good goyim sir.

[Anonymous No.26551861]

>>26550843
Just wash it through monero lol

[Anonymous No.26551933]

>>26551861
How does one do this in minecraft? Like how do you explain, for example, that your ETH appreciated 10x as much as it should have if you had not made any trades.

[Anonymous No.26551966]

>>26546280
As long as you paid with FIAT it's not taxable. If you traded the crypto you bought with other crypto. Example, you're a pajeet shilling your PND scam. You trade your ether for rbc. That is taxable.

[Anonymous No.26552076]

>>26551608
show me a single instance of IRS going after someone on the basis of etherscan data

[Anonymous No.26552129]

>>26551933
Nigger take your crypto and buy monero with all of it. Then make 10 new monero wallets and divide it up in random percentages that equal 100. Then convert that monero into a stable coin and hodl or cash out as needed. Idk if it actually works I just figure if you make it more work than it's worth then they leave you alone. Obviously buy new burner Obama phones with monero for each new wallet lol

[Anonymous No.26552132]

>>26551608
What if before you send to coinbase, you send to a different wallet that has no uni transaction history and then transfer to coinbase? Not saying I would do this or that I have ever traded on coinbase. Just a hypothetical

[Anonymous No.26552187]

>>26550626
Biden administration is working on implementing a fix for that though. Gotta pay reparations for saving and investing your money because it's not fair that you made a free account on an exchange website and Jamal didn't

[Anonymous No.26552238]

>>26543560
I've submitted an 8949 with literally thousands of trades from half a dozen exchanges, taxes paid. If they start coming after crypto people I'm not going to be low hanging fruit.

Plus there's this -->
https://www.propublica.org/article/irs-sorry-but-its-just-easier-and-cheaper-to-audit-the-poor

[Anonymous No.26552309]

>>26552076
>>26552132
when eth hits 100k it'll be worth it for them to hire a wagie for 20 bucks an hour to go through etherscan and find trades you made.

[Anonymous No.26552326]

>>26552187
Jamals have plenty of robinhood accounts. It's not about taking from the white man and giving it to niggers, it's about a larger system of authoritarian control.

[Anonymous No.26552383]

>>26552187
If they do this I'm out. I don't really think that this shit is feasibly possible though.

[Anonymous No.26552449]

>>26552187
they are literally signing the death certificate of the us if they actually try and pull that off

[Anonymous No.26552595]

>>26552383
>>26552449
Pic related. America is a sinking ship.

[Anonymous No.26552667]

>>26552595
they're talking about it now because it's a changing of the guard. Same kind of shit was talked about when Obama got in to office in 2008. I don't see them actually putting this in to place though. The donors wouldnt stand for it

[Anonymous No.26552846]

>>26551608
>>26552076
>>26552309
That's not how it works at all. When they audit you they're going to demand YOU give them all your trade history and proof of where the money came from.

[Anonymous No.26552855]

>>26552667
Bigger government means more taxes. I’m not expecting it to be completely off the table over the next 10-20 years. The fact that it’s even a serious consideration is enough for me. America is still a sinking ship, with or without realized gains tax.

[Anonymous No.26552932]

>>26552846
Lost it all in a tragic scamming accident. Innocent until you can prove me otherwise

[Anonymous No.26552958]

>>26543560
When Trump is in jail; Otherwise I'm not sure what taxes do.

[Vitalij_K No.26552974]

Imma buy the greatest Ahahahahahahaha
drop you wallet and cry in the corner
I will be cleverer and hold my base with top Cascade protocol
market volume will grow this month so I will become rich

[Anonymous No.26552976]

>>26552932
yeah but if you cashed it out and are actually using the gains then you're still screwed.

[Anonymous No.26553000]

>>26552855
Cant have a bigger government when you dont control the money. What will they pay IRS auditors/cops/federales with? Monopoly money?

[Anonymous No.26553053]

>>26546361
You won't be taxes on the gains until you trade it. So transferring is pointless since it wasn't taxable at that point anyway. Or were you going to transfer then at that point sell for cash somehow?

[Anonymous No.26553138]

>>26551933
Report zero cost basis short term gains would be the closest good faith effort here I think - assuming you couldn’t demonstrate cost basis or hold time.

[Anonymous No.26553250]

>>26552846
>That's not how it works at all. When they audit you they're going to demand YOU give them all your trade history and proof of where the money came from.
alright irs, heres the ONE trade i did, i just held it for years. iron hands

[Anonymous No.26553273]

>>26552383
>>26552449
Biden's first action was killing the oil industry. Canada's not just gonna stop selling oil because we don't buy it anymore. It directly benefits China who now can funnel it in from Canada. America is fucking dying.

[Anonymous No.26554093]

>>26553250
if you can't sufficiently prove it then the best case scenario they will give you is to report zero cost basis. of course if you're just a poorfag then you're never gonna get audited anyway.

[Anonymous No.26554305]

Yes sir I received $3000 in the uniswap airdrop. But you see, I lost it all in a project named after a hotdog

[Anonymous No.26554458]

I only pay tax on crypto to fiat and have done so for 5 years and in mid 6 figure range and the ATO has never had a problem with me, they probably are happy I am not claiming my losses.
>t. seething that I have already send the cunts 100k this financial year when my kiwi mates pay nothing

[Anonymous No.26554894]

>>26543722
Just don’t spend it like a stupid nigger. As long as you just hodl you can pay their 30+% and still be set.

[Anonymous No.26555258]

>>26543560
Why would I have to pay taxes? I only hodl, never sell.

[Anonymous No.26555392]

>>26554458
You pretty much only have to pay taxes on crypto to fiat anyways since that summarizes your net capital gains. The only thing the irs gets pissy about is if you make profitable trades without cashing out, which is stupid on their part since when you inevitably cash out it would be accounted for there, even if it's not within the same fiscal year.

[Anonymous No.26555594]

i don't believe in it. some jewish trickery.

sharia law only when it comes to taxation, so .. no taxes.

[Anonymous No.26555661]

>going to owe more in taxes than i can afford to pay because i lost everything trading after a beginners luck streak
its fucking over for me

[Anonymous No.26555947]

>>26555661
fuck, can this actually happen because I'm in the same situation

[Anonymous No.26556077]

>>26543560
I have never sold or traded a single coin. Spent about 30 grand total, made about 330k so far. I'll sell in 2030. If its worth nothing then, oh well

[Anonymous No.26556479]

If you aren’t smart enough to figure out how to not pay (((taxes))) on your FUCKING CRYPTOCURRENCY then you deserve to get raw dawged by chicken swingers.

[Anonymous No.26556730]

>>26546043
Imagine not filing your own taxes. Imagine the cost.

[Anonymous No.26556759]

>Might tax unrealized capital gains

You know America is absolutely FUCKED when it's ideology claims to hate communism and yet fucking China, a "communist" country, has 0% capital gains taxes and it's average citizen pays less percentage in taxes overall than an American does.

I'm done being emotionally invested in America altogether, I hope it fucking burns to the ground.

[Anonymous No.26556822]

>>26551388
>>26550996
Adding to this, while it is indeed a taxable event, you only pay taxes on the gains. So if you buy ETH at $1000 and convert it all to LINK a week later and ETH is still at $1000, you do technically have to pay taxes, but at that point it's X% of $0.

[Anonymous No.26557229]

>what taxes do you mean tax man? I haven't done anything
>implying the IRS gives a shit until you turn your bitcoin into fiat
>implying the IRS is smart enough to trace your actions to a public leger with hundreds of thousands of transactions for millions of people

[Anonymous No.26557286]

>>26556759
There's unironically no country where you get less for your tax money than in America. It's fucking ridiculous, and yet people want to give the government MORE money? I just don't fucking understand

[Anonymous No.26557326]

>>26552595
I don't understand why they don't just fucking tax the Bezos and Musk dollars to de-incentivize rampant billionaire embezzlement, they'll have plenty of money that way

[Anonymous No.26557424]

>>26557286
We're basically human livestock at this point, being corralled into tighter and tighter spaces and milking us for everything we're worth

[Anonymous No.26557834]

Yeah I just requested RuneScape to send me all my grand exchange transactions, but they don't have my playerr-to-player trade history?

I'm really scared the IRS is gonna crack down on my digital assets! Maybe even seize them!

[Anonymous No.26557889]

>>26557834
Turn those runescape transactions into fiat and you can bet your sweet little asshole that the IRS is gong to want their cut.

[Anonymous No.26558001]

>>26548096
All we need is one based anon with a bot to report millions of transactions with microscopic losses to offset their bill and keep those niggers busy for decades

[Anonymous No.26558171]

>>26557889
But they're already taxable events since I'm a burger. Maybe I can get around it (this is purely theoretical, almighty IRS) but if I feel like I have to buy bonds from now on and not pay membership by gift cards I bought with cash anymore since the IRS is so competent and legitimate. I'm just worried they'll come after my steam trading cards next!

Say, can anyone recommend me some tax software?

[Anonymous No.26559007]

>>26543722
All trades are taxable events

[Anonymous No.26559075]

Is it necessary to bother with this shit if I didn’t profit off my trades last year?

[Anonymous No.26559096]

>>26559075
you might get more back after filing if you had losses

[Anonymous No.26559947]

>>26554458
Kiwi here, what do you mean pay nothing? How can a kiwi achieve that?

[Anonymous No.26560020]

no. never fucking selling. that would imply my bitcoin isn't a currency. fuck off and stop fudding.

[Anonymous No.26560054]

>>26543560
>letting the government steal from you
lmaoing @ your life

[Anonymous No.26561128]

>>26559947
No capital gains tax in New Zealand, so you pay no tax on crypto as long as you don't trade enough to be considered a business.

[Anonymous No.26561948]

>>26543560
us is a joke

[Anonymous No.26562019]

fuck the us. that is so fucking twisted and sick that they try to have you pay for unrealized USD gains. You have to pay to play if youre a little guy trying to get some spare change. They want you to pay for money you havent even made to pay for niggers and bombing arabs.

[Anonymous No.26562051]

no, i will never pay taxes. you will never find me or outgun me. my specialty is robotics and IR tracking. go ahead and kick down the door glow nigger.

[Anonymous No.26562099]

>>26562019
no, that was just a ashkenazi jew trying to get more gibs by starting a discussion. not going to happen. what americans really need is to challenge crypto tax under the 14th amendment but most the sharks that can afford to do it are too selfish or pussy.

[Anonymous No.26562353]

>>26561128
If that's true, is the following another "midwit's take"?

https://amp.reddit.com/r/NZBitcoin/comments/7pdnsp/tax_on_crypto_profits/

[Anonymous No.26562444]

>>26561128
You have no idea how much I want what you said to be true but then again we have this shit:
https://www.ird.govt.nz/cryptoassets/taxing

Please enlighten me anon.

[Anonymous No.26562491]

>>26543560
I have a yarmulke in a glass case that I will don if the IRS ever shows up to my door and starts asking questions. Until then, keep your grubby kike hands off my bag

[Anonymous No.26562558]

>>26562491
Jews have no problem Jewing other jews if it means they can benefit. The IRS will remain unstoppable.

[Anonymous No.26563048]

>>26562444
Sorry anon but people are kinda retarded. We have no capital gains tax in nz it’s true but it just gets marked down against your income so probably looking at 33%

[Anonymous No.26563128]

>>26552132
you can trace the transactions back, anon...

[Anonymous No.26563297]

>>26553273
> America is fucking dying.

By the end of the first Biden term, most people will unironically be trying to escape to Central/South America or Southeast Asia. North America as a whole is going to quickly look like fucking Africa.

[Anonymous No.26563302]

>>26546541
I got bad news for you.

[Anonymous No.26563340]

Been evading for five years already. Suck my dick taxation is theft.

[Anonymous No.26563366]

Imagine still living in the shithole called USA.
Imagine not living in Singapore.
LMAO

[Anonymous No.26563372]

>>26563340
Tick tock Jeffry, We are coming for you.

[Anonymous No.26563519]

>>26563372
Suck my dick you kike I’m in Asia and the Jews fear the Samurai.

[Anonymous No.26563562]

>>26563519
We'll take your gains just as fast as we took your foreskin.

[Anonymous No.26563700]

>>26563562
kek

[Anonymous No.26563810]

>>26563048
33% is theft!
I really don't understand why we need to pay that if there's no capital gains tax in NZ.
>No Capital Gain Tax in NZ
>It's 33%
Wtf?

[Anonymous No.26563902]

>>26548980
The money you're born with