/biz/ - Business & Finance

[Anonymous No.51017564]

>sell $1 worth of shares
>buy $1 worth of shares
>sell $1 worth of shares
Does the IRS now believe that I have $2?

[Anonymous No.51017583]

>>51017564
the IRS believes you need to be audited

[Anonymous No.51017605]

>>51017583
This, your activity is suspicious to them unironically.

[Anonymous No.51017644]

>>51017564
No you only pay on profit

[Anonymous No.51017647]

>>51017564
You didn't make a profit so why would they think you made money?

[Anonymous No.51017655]

/biz/ - Business & Finance

[Anonymous No.51017668]

>>51017564
No because you report how much of those shares you bought and sold so if you buy and sell the same amount you made no profit. If you only sell half and still make a dollar then you owe taxes because it is profit

[Anonymous No.51017680]

>>51017647
I guess I wasn't sure if they would be aware that I reinvested the money.

[Anonymous No.51019950]

>>51017564
>I have $2?
1+1+1 = 3

[Anonymous No.51020082]

>>51017583
They can audit the bullets between their skulls if they ever try to fuck with me.

[Anonymous No.51020180]

>>51017680
You still have to report every single trade.

[Anonymous No.51020238]

>>51017564
>sells and immediately rebuys $1 of the same stock every
>refuses to explain why

[Anonymous No.51020257]

>>51017564
>sells and immediately rebuys $1 of the same stock every day
>refuses to explain why

[Anonymous No.51020271]

>>51017564
>Does the IRS now believe that I have $2?
no, they think you have $5

[Anonymous No.51021752]

>>51017564
No but with crypto it can be that way with deposits.
>Deposit wagebucks
>Buy eth
>Withdraw ETH to hold keys
>Deposit ETH to sell
>Cost basis for deposit is zero
>Immediately owe 40% of deposit to IRS