Taxes

[Anonymous No.6067605]

So let me get this straight. Let's say you cash out 1 million dollars in crypto and your initial investment was negligible. If you live in the US then you have to pay ~$400,000 in state and federal taxes unless you hold for a year then its ~250,000? Trading your BTC/ETH that you bought with USD for alt coins resets the 1-year timer correct? So after accumulating enough crypto I have to sit on BTC/ETH a full year and hope the market doesn't crash and BTC/ETH are still around to where I can cash out on them otherwise I get fucked by taxes? FUCK

[Anonymous No.6067716]

So here's the fun thing with the new taxes. Lets say you have a million dollars in BTC and you trade it for LINK. With the new tax laws, 1031 exemption of "like trades" is gone for crypto, so you now just had capital gains of 1 million dollars.

Cool. Yep, if you cash to FIAT in the next year, you pay a larger sum than if you hold it for more than a year.

Lets say you hold it though and yea your taxes on that amount is $250,000. What happens though if LINK crashes to 0? And now you have nothing at all? You still owe taxes on your capital gains... $250,000.


With the new US tax laws, crypto is now the ONLY investment scheme where you can lose more than you initially invest and be liable for FAR FAR FAR more money than you risked.

[Anonymous No.6067746]

Depends on how much your state taxes. Also LTCG is 15% for the first few hundred thousand, it's not like tax brackets mean "you earn X dollars, every dollar gets taxed at the rate for X."

[Anonymous No.6067784]

>>6067716

Investing even $1 into crypto now puts you at risk for losing thousands or more depending on how the crypto market does. You could lose your car, house, everything.

This is how they regulate crypto. This is how they kill all the crypto market... by making it too scary and risky to get involved.

[Anonymous No.6067787]

>>6067605
Buy Monero and then cash out idiot.

[Anonymous No.6067800]

>>6067716
This doesn't sound right, because with the new $1m basis in LINK, you'd deduct the $1m capital loss when it goes to 0.

[Anonymous No.6067802]

>>6067716
Oh yeah I completely forgot about the thing where every trade is a taxable event. If you trade altcoins are you pretty much fucked?

[Anonymous No.6067816]

>>6067716
you're a fucking moron, capital losses dumbfuck

[Anonymous No.6067826]

>>6067716
>>6067746
>>6067605

You have a capital gain of a million dollars, but you also have a capital gain of a million dollars, it's not that hard.

Like Kind was only used in very specific, and autistic, scenarios.

You have nothing to fear. Even with short term capital gains you'll only pay max 35%.

This is max level FUD.

[Anonymous No.6067877]

>>6067716
fuck that. I will never pay taxes on this. fuck trump. fuck them all.

[Anonymous No.6067883]

>>6067716
Hmm <1% chance for audit with a 4 year statue of limitations or be a slave to the government for the rest of my life

They’re kind of forcing people’s hands here

[Anonymous No.6068022]

>>6067716
you fucking moron lmao
thats one of the stupidest things i've ever read on /biz/

[Anonymous No.6068048]

>>6067716
NOTHING HAS CHANGED. I REPEAT, NOTHING HAS CHANGED. You were supposed to be paying taxes on crypto since 2014; when it was classified as property. Crypto trades were never like-kind. Like-kind wouldn't stand up in court since most coins/tokens have different use-cases. The new law just clarifies that like-kind only applies to real estate. The IRS just hasn't bothered to track down crypto investors at this time.

[Anonymous No.6068158]

>>6067787
fucking this

Taxes are theft. Fuck the IRS.

[Anonymous No.6068210]

Just fudge the books what are they going to do subpoena a chink exchange? Haha holy shit.

[Anonymous No.6068212]

>>6067877
hope you like jamal 9 inches deep you reddit browsing felon

[Anonymous No.6068283]

what about those debit cards that do the conversion at the moment of the transaction? i'll just hold all of my value in btc, and only pay taxes when i spend.

[Anonymous No.6068285]

>>6068048
>>6068022
>>6067826
>>6067816
>>6067800

http://cryptocurrencyfacts.com/2017/12/30/the-tax-rules-for-crypto-in-the-u-s-simplified/

"WARNING: If you make great gains this year on-paper, but then crypto goes to heck next year, you could end up owing a ton of money to the IRS you don’t have. You could run into real problems if crypto goes to zero (very unlikely) or if you panic and sell low. Seek guidance from a professional before making rash moves. "

[Anonymous No.6068423]

>>6067784
What are you talking about? You only pay taxes if you made money. Do people really not understand how income tax works.

[Anonymous No.6068425]

Hope they add more USD trading pairs to altcoins in the future so you wont have to wait a year in BTC/ETH/LTC to get the long term rates

[Anonymous No.6068471]

>>6068423

Crypto -> Crypto trades are a taxable event. Not just cashing out for USD.

[Anonymous No.6068600]

>>6067800
Capital loss is capped at $3000

[Anonymous No.6068614]

How do I include fees when filing for taxes? Do I just put in my initial as (initial-minus fees) or is my initial just straight initial and fees are subtracted from my gains/losses?

[Anonymous No.6068630]

>>6068471
Capital gains tax only applies to the gains... not the principal. You will only ever be taxed on the profit that you make. You can't lose more than your original investment via taxes

[Anonymous No.6068654]

>>6068471
Yes but only if you made money.
If you buy 1 btc at 16000
trade 1 btc - alt when it's under 16000

You don't pay any tax since you "sold" btc at a loss

[Anonymous No.6068678]

>>6068210
Yeah, but what I'm worried about is if they ask you for you to provide proof of all your trades and where you got all your money. I doubt they'd do any investigating themselves

[Anonymous No.6068709]

It's called Capital GAINS tax you fucking idiots.

[Anonymous No.6068854]

>>6068678
Log all your transactions and daily gains/losses. It's not hard.

[Anonymous No.6069108]

tax: (sum(max(0, sell - buy)) + max(-3000, sum(min(0, sell - buy))) * tax_rate

[Anonymous No.6069639]

If you think you got it bad, Get ready to see what happens to anyone who created forked coins like BCH. Or created new coins like Ripple.

Capital gains on crypto basically fucks the existence of ALL PRE-MINED COINS. I still have not got a straight answer from people right now.

Capital gains means that Ripple and any forked coin are instant jail sentences for the creators. You will never be able to pay the taxes on those coins because of how insane it would be to do. Ripple is especially in trouble because they open a 1 billion coin escrow every month.

There is no way that capital gains can be done on crypto without completely destroying a huge majority of the coins. Satoshi was smart as fuck when he decided to hide.

When the fuck are people going to realize the impending shitstorm this is going to cause?

[Anonymous No.6069657]

>>6068471
Buy $1000 BTC, then buy a shit coin for that amount of BTC. If by the time you "sell" your BTC for the shit coin it goes up $1 you pay $.30 in taxes. It's not hard.

[Anonymous No.6069786]

>>6067716
>With the new US tax laws, crypto is now the ONLY investment scheme where you can lose more than you initially invest and be liable for FAR FAR FAR more money than you risked.
WRONG.
The same can happen when you trade precious metals or stocks.
Say you have $250000 gains on gold. You trade gold for silver, and then silver drops to nothing. You have the same problem.
This is nothing new. And the recent "change" was just a clarification. Experts have been warning against recording cryptocurrency trades as "like-kind" exchanges.
The moral of the story is not to throw your money away on something that will be dumped.

[Anonymous No.6069894]

>>6068285
That is why you calculate cash out and set aside the taxes you owe by Dec 31st. Nothing actually changed this year, like kind was never intended for crypto and the current rules are from 2014.

[Anonymous No.6069927]

>>6069639

Don't forget, anyone who mines crypto and sells it is actually a felon

see: https://www.youtube.com/watch?v=9pX7IQ6UOVM

[Anonymous No.6069977]

Lmao in Canada I only have to pay 15%

[Anonymous No.6069998]

>>6069639
>When the fuck are people going to realize the impending shitstorm this is going to cause?

YOU DO NOT PAY TAXES ON UNREALIZED GAINS (GAINS ON PAPER)

YOU DO NOT PAY TAXES ON UNREALIZED GAINS (GAINS ON PAPER)

YOU DO NOT PAY TAXES ON UNREALIZED GAINS (GAINS ON PAPER)

YOU DO NOT PAY TAXES ON UNREALIZED GAINS (GAINS ON PAPER)

YOU DO NOT PAY TAXES ON UNREALIZED GAINS (GAINS ON PAPER)

[Anonymous No.6070028]

imagine the shitstorm if they taxed tea 2%.
same thing.

digital vs organic usa vs britain.

against all odds...look at the gains.

[Anonymous No.6070185]

-no federal income tax
-have to live there for 6 months out of the year
-warm weather
-great food
-qts literally everywhere
-gated communities so you literally dont have to learn spanish if thats not your thing
-already inexpensive real estate made cheaper by recent natural disaster
-can still be american

is anyone planning on moving to puerto rico once they make it or something similar?

discuss

[Anonymous No.6070257]

if you are in the 10 to 15% tax bracket, from my understanding if you hold for over one year you dont have to pay any capital gains tax.

I would have each of you check your bracket and states tax code.

[Anonymous No.6070371]

>>6070185
It’s going to take PR decades to recover idiot
You’re going to be down there in your gay boomer tier gated community while outside hundreds of thousands of brown people are living in dilapidated tin shacks

[Anonymous No.6070378]

>>6070257
This is what trump proposes. less brackets, simpler.

[Anonymous No.6070390]

>>6070257
Nobody fucking cares about poorfags here. We're talking about crypto millionaires.

[Anonymous No.6070416]

>>6067716
fucking misinformation, if LINK crashes to 0 you pay nothing because those gains were UNREALIZED (gains on paper)

You ONLY pay taxes on realized gains (when you convert to USD)

The reason why the Tax law is fucking retarded is because they are treating crypto like assets, when in reality crypto is currency, not an asset. The whole point of crypto is its a replacement for fiat.

All that the IRS and the government is doing is pushing people to adopt crypto even faster and to actively use crypto for transactions, so they dont have to pay the retarded tax to convert to fiat.

But you will NOT have to pay unrealized gains. It works the same way as stocks.

Everyone here is probably going to have to pay the 35% anyway, even if its a zero cost basis. The thing is, our gains are so high, that the zero cost basis (assuming that it cost you $0 to invest) is a minimal penalty because our gains are so fucking high.

[Anonymous No.6070496]

>>6070390

Well if you were smart... youd quit your dayjob for a year. No income, file as 10%. 0% capital gains tax. But yeah continue to larp as a millionaire instead. Much easier

[Anonymous No.6070538]

>>6070496
Yeah and I'll only be able to cash out on 1% of my portfolio. Whoop de doo. By the time I'm done I'll be over 100 years old.

[Anonymous No.6070550]

>>6070185
Como Esta Amigo Estoy el readio
How's my spic talk ?

[Anonymous No.6070808]

>>6070371
i don't know why, but anytime someone uses the word "dilapidated" i piss my pants laughing.

[Anonymous No.6070916]

>>6070416
He's talking about buying LINK WITH realized gains.
When you barter cryptocurrency for another property when the cryptocurrency gained in value, then that counts as a realized gain, because you are using your gain's purchasing power.

[Anonymous No.6071052]

>>6069998
Then everything in crypto is unrealized gains until I cash out. Easy as that.

[Anonymous No.6071162]

Once I have all my gains in Monero, how the fuck do I cash out?

[Anonymous No.6071209]

>>6071162
Buy gold with monero, then pretend you found

[Anonymous No.6071216]

>>6071052
Except that is wrong, you sell crypto every time you trade it for another crypto. If you made gains off that transaction you owe taxes on those gains in that year for the fair market value in USD.

[Anonymous No.6071409]

>>6067716
>What happens though if LINK crashes to 0

You trade the LINK and realize the loss

[Anonymous No.6071430]

>>6070371
just spit balling, bud. no need to get edgy

>>6070550
enjoy getting buttfucked by uncle sam paying for those poor refugees and niggers

[Anonymous No.6071653]

>>6071409
Loss is capped to $3000 per year unless you are a daytrader.
>What happens though if LINK crashes to 0
This is like asking "What happens if I put all of my wage into bitcoin and it crashes to 0?"
Yes, you will get taxed, even though you have no spare change.
Invest carefully and don't gamble away your gains. Or you can do >>6069894.

[Anonymous No.6071664]

>>6071216
Except for the problem that this is not feasible at all and it would destroy coins like Ripple or Bitcoin gold. It also makes it absolutely fucking insane to own a Steemit account as well because it does hundreds of transactions a day easily.

Ripple. the company opens up 1 billion dollars of coins that they have full control over every month and them reinvests them into an escrow when done. Ripple would owe taxes on 1 billion coins a month if this were to be implemented.

Any coin created with pre mined coins that the author has control over would put the creator in a situation where that person is forced to dump all of his coins on the market to pay the huge taxes.

Satoshi Nakamoto owes insane amount of taxes right now. If the fucker ever did show up he would be tossed in jail instantly if he didnt dump huge amounts of BTC on the market to pay his taxes.

There is no fucking way taxes on this shit is going to be a thing. It sounds possible on some levels but it would destroy crypto.

[Anonymous No.6071709]

For example:
If you trade Bitcoin for Ethereum, that is a barter transaction and you are liable for all capital gains at that point in time.

You are buying cryptocurrency using a different cryptocurrency, this is not a like-kind transaction. You must pay.

If you don't want to pay capital gains, just hodl. Alternatively, have a full time job like a normal fucking person and just pay the tax, if you lose then you can get a break later on if you have investments or buy/sell a house.

Not paying your taxes is just going to fuck you over when the government realizes it. Not only will you have to pay the taxes, you will have to pay, what, .5% a month? Compound interest will FUCK you.

[Anonymous No.6071758]

>>6067716

No retard capital losses offset capital gains retard.

[Anonymous No.6071813]

>>6068285
No, because you cash out whatever small amount you're worth to realize your net loss. This loss cancels out your previous gains. Unless you are completely fucking your tax forms, you will owe the tax rate for whatever your realized GAINS end up being.

[Anonymous No.6071828]

Literally ALL YOU HAVE TO DO IS CASH OUT YOUR TAX LIABILITY AT 12/31. It's so fucking simple. That avoids having gains/losses in separate years.

And like kind was NEVER allowed for crypto. I hope yall aren't ever audited.

[Anonymous No.6071859]

>>6071813

a crypto to crypto trade, like trading btc for link or eth or anything else, is a realized gain.

[Anonymous No.6071887]

>>6071664
>Any coin created with pre mined coins that the author has control over would put the creator in a situation where that person is forced to dump all of his coins on the market to pay the huge taxes.
What are you talking about? You only pay taxes on your gains. What makes you think that a coin author has to sell all of his coins to pay taxes?

[Anonymous No.6071896]

>>6071653
>s cancels out your previous gains. Unless you are completely fucking your tax forms, you will owe the tax rate for whatever your realized GAINS end up being.
>>>
>Anonymous (ID: 811dvaS/) 01/07/18(Sun)21:05:03 No.6071828▶
>File: 1515174392414.png (752 KB, 606x1069)
>752 KB
> Literally ALL YOU HAVE TO DO IS CASH OUT YOUR TAX LIABILITY AT 12/31. It's so fucking simple. That avoids having gains/losses in separate years.
> And like kind was NEVER allowed for crypto. I hope yall aren't ever audited.


Losses aren't capped to $3000 only losses MORE than gains are capped.

LOSSES FULLY FUCKING NET AGAINST GAINS YOU FUCKING RETARDS HOW ARE YOU ALL SO FUCKING STUPID HOLY FUCKING SHIT

[Anonymous No.6072025]

>>6067716
A fucking leaf!

[Anonymous No.6072030]

>>6071887
If the author owns those coins those are his gains. Satoshi nakomoto owes taxes on his Bitcoins.

It would destroy Bitcoin instantly if he was forced to pay it all off.

[Anonymous No.6072100]

>>6067716

And I repeat, CASH OUT AT 12/31 FOR TAXES THIS WORKS THE EXACT SAME WAY AS STOCKS.

THE ONLY WAY THIS SCENARIO HAPPENS IS IF YOURE LITERALLY A MOUTHBREATHING RETARD

[Anonymous No.6072102]

>>6067605
love all this FUD from whales hoping to buy

[Anonymous No.6072256]

>>6068471
its called BASIS and yes if you made money and trade out, you pay tax on the % earned when you sold for a new coin

[Anonymous No.6072294]

>>6071859
No it's not. The amount that asset went up before you went from BTC to LINK is a realized gain.

[Anonymous No.6072304]

>>6072030
He doesn't owe anything unless he trades his coins for something, and he would only owe a percentage of his profits.

>>6071896
I was mistaken. So in the example above, you can sell off the LINK to realize losses. But watch out for the wash sale rule.

[Anonymous No.6072375]

>>6068158
It's funny that 4chan, a site populated by socialist are finally understanding that taxes = theft now that they finally stand a chance of making some money sitting in their parents basements.

[Anonymous No.6072574]

>>6067605
i will tell you what some people i know are doing, and that is you don't pay any taxes, if at some point you get audited, you say sorry, take fine, take assessment, you will have made exponential gains on all of what you would have paid in taxes anyway, then write a check for back taxes and penalties with millions in the bank to spare from holding the taxes for uncle sam

[Anonymous No.6072617]

>>6072375
>It's funny that 4chan, a site populated by socialist
lol

[Anonymous No.6072618]

>>6070916
>He's talking about buying LINK WITH realized gains.
No he's not. It's unrealized until its cashed out to fiat.

>When you barter cryptocurrency for another property when the cryptocurrency gained in value, then that counts as a realized gain, because you are using your gain's purchasing power.

Wrong wrong wrong. Its only a realized gain when its converte to fiat otherwise its...drumroll....unrealized gains!

[Anonymous No.6072742]

>>6072375

i think you got it the other way around

[Anonymous No.6072839]

>>6072618

It makes bar far the most sense to me that you only pay taxes on what you cash out, Paying taxes on unrealized gains is fucking weird as shit.

"Hey man, you are expected to tangible this untagible bro."

[Anonymous No.6072866]

>>6072618
You are wrong. IRS says so. Forbes says so. bitcoin.tax says so. cointracking.info says so.
Cryptocurrency is property for tax purposes.
Trading cryptocurrency for cryptocurrency is barter.
BARTER IS TAXED.
For example, IRS taxes trade of gold for silver, if you have gained value on gold.

[Anonymous No.6072946]

>>6071216
Wrong. Its unrealized gains until you cash out to fiat.

read: https://www.investopedia.com/terms/u/unrealizedgain.asp

[Anonymous No.6073073]

>>6072866
>IRS says so (wrong)
>Forbes says so (wrong)
>bitcoin.tax says so (wrong)
>cointracking (wrong)

No, its your interpretation that's wrong. The government does not tax unrealized gains. Thats why they are called "unrealized".It's not income from capital gains until its cashed out for fiat (the position is closed)

read brainlet https://www.investopedia.com/terms/u/unrealizedgain.asp

[Anonymous No.6073096]

>>6072866
>For example, IRS taxes trade of gold for silver, if you have gained value on gold.

That's cool for gold and silver. What do you do when its thousands of transactions a week? Its literally impossible to track this shit.

Does the IRS bother to go after every stripper making 120k a year in one dollar bills? You might hear some stories but the vast majority dont.

This is that but even worse. its completely insane.

[Anonymous No.6073102]

>>6073073
>the IRS's interpretation doesn't matter, mine does
Good luck, Anon

[Anonymous No.6073163]

>>6073096
>>That's cool for gold and silver. What do you do when its thousands of transactions a week? Its literally impossible to track this shit.
And its 100% on you to keep track of it. They can hit you with whatever htey want and its on you to prove you did nothing wrong

[Anonymous No.6073186]

The IRS will have to start accepting bitcoin as payment or other coin like .gov coin

[Anonymous No.6073219]

>>6069998
So never cashing ouy is the answer and just be drug dealer rich?

[Anonymous No.6073223]

>>6073073
All crypto is property you mongoloid

[Anonymous No.6073264]

>>6072839
You gave something that gained in value in exchange for something else.
That is a barter.
You just realized your gains in order to make a trade.
Doesn't matter if you traded real estate, precious metal, stocks, cryptocurrency. If you trade one thing for another, that is a barter, and barter is taxed.
There's no need to argue about it. Just go to irs.gov and read about how cryptocurrency is property for tax purposes, and how barter is taxed.
If you think it's ambiguous, use the web search engines and search for "cryptocurrency tax" to find easy-to-read clarifications published by business journals and blogs.
They all say the same thing.

[Anonymous No.6073274]

>>6073073

You keep saying its an unrealized gain despite the fact that everything say crypto to crypto is a property trade which is a REALIZED gain.

You cant just pick and choose which laws you want to apply to which situations benefit you

[Anonymous No.6073312]

>>6073073
aksually you are going to aksually get raped in prison by jamal if you think this way

[Anonymous No.6073316]

>>6073102
It does make sense when the IRS is fucking retarded and they have no idea what they are walking into this year. People are going to dump massive piles of paperwork on the IRS. Shipping boxes and boxes. hundreds of pounds of papers with millions of transactions. No human will be able to deal with it.

It will be amazing. If the IRS says that water isn't wet, anyone who knows what water is will point and laugh.

[Anonymous No.6073346]

>>6067787
how do you cash out with monero? just stay in monero ?

[Anonymous No.6073379]

>>6073316
Its on you to prove you did nothing illegal anon :)

[Anonymous No.6073395]

>>6073316
I hope to GOD this fucking happens. Those mouthbreathing IRS cunts can all go suck on chode.

[Anonymous No.6073397]

>>6073346

This, pls answer. Everyone says blahblahblah monero then nothing else.

[Anonymous No.6073408]

>>6073186
If the IRS was smart they would remove the tax for crypto. The make a USD crypto coin. Then force all businesses and exchanges to buy a small percentage of USD coin for every single transaction.

[Anonymous No.6073462]

Reminder that if you buy anything with crypto you are expected to pay sales tax too :)

[Anonymous No.6073480]

>>6073379
yeah its called sending them all the paperwork proving you did nothing wrong and tell them to look through them

[Anonymous No.6073512]

>>6073480
I've got all my trades logged so far, do you anon?

[Anonymous No.6073535]

>>6073316
They already deal with stock trades. I think they're up to the task.
>>6073346
>>6073397
Don't be criminal scum. Pay your taxes.

[Anonymous No.6073545]

>>6073102
>>6073223
>>6073274
>>6073312
You're all a bunch of morons, jesus

THIS IS WHAT THE IRS SAYS YOU DUMBFUCKS

https://www.investopedia.com/taxes/capital-gains-tax-101/

"As a general rule, you don't pay any tax until you've realized a gain. After all, you need to receive the cash made from selling at least part of your investment in order to pay any tax."

Crypto is taxed just like Stocks: https://www.washingtonpost.com/news/the-switch/wp/2014/03/25/got-bitcoins-heres-how-the-irs-says-to-report-them-on-your-tax-return/

Fucking brainlets.

[Anonymous No.6073622]

>>6073545
>The IRS says cryptocurrency is property not currency, so you might think you could qualify. But whether 1031 applies to cryptocurrency is debatable. Some tax advisers say no, while others offer more positive views, that in some cases 1031 can apply, provided that you are careful. But this debate may not be relevant much longer. Both the House tax bill and the Senate tax bill propose to restrict 1031 exchanges to real estate. The real estate industry is breathing a sigh of relief that 1031 exchanges are being kept for them.

https://www.forbes.com/sites/robertwood/2017/11/27/tax-bills-doom-tax-free-1031-exchanges-of-cryptocurrency/#41439211f58f

I hope you have enough gains to pay a CPA anon sounds like the IRS is going to rape you real good

[Anonymous No.6073630]

>>6073545

> continues to link to old shit
> doesnt realize that a new tax plan that specifically changed crypto went into place January 1st 2018

k. Keep reading that article from march 2014 lol.

[Anonymous No.6073659]

>>6073545
What you don't seem to understand is the act of trading one stock for another stock triggers a capital gain

[Anonymous No.6073720]

>>6073630
Nothing has changed you brainlet. Nothing. NOTHING. It was always like this. Thats why I can link to an article from 2014.

[Anonymous No.6073776]

>>6073659
What you dont seem to realize is that its an unrealized gain and that you only pay taxes when its cashed out to fiat.

[Anonymous No.6073799]

>>6073379
They cant enforce it. And I will be interested to see them try. Cashing out is the only way this will work.

[Anonymous No.6073808]

>>6073622
But how is anybody supposed to pay taxes on shitcoin trades without cashing out, which generates additional capital gains?

[Anonymous No.6073826]

>>6073397
Either stay in monero or start slowly selling it to degenerates who want drugs off tor. Or find crypto atms that you can deposit your coins into in exchange for fiat and pay high fees and be limited to a couple thousand a day.

[Anonymous No.6073833]

>>6073776
It's realized when you trade one for another

[Anonymous No.6073896]

>>6073535

Fuck you.

>>6073826

Thanks.

[Anonymous No.6073916]

>>6073776
what dont you seem to realize that STARTING JAN 1ST THIS YEAR THE LOOPHOLE IS CLOSED YOU FUCKING RETARD

[Anonymous No.6073935]

>>6073808
Please explain how cashing out generates additional capital gains. It sounds like easy money.

[Anonymous No.6073953]

>>6073622
That was never the case. 1031 never qualified for crypto. You always had to pay taxes on cryp-to-crypto exchanges. The thing is, its just the retarded language of the law. In reality, you only pay taxes when you convert your crypto to fiat.

1031 was never a loophole, it was just some technical wording that gave the chance for a loophole, but since the IRS is given unlimited power, that loophole never really existed. It was just bullshit so articles could get headlines.

Nothing has changed, you always had to pay taxes on crypto. The end.

[Anonymous No.6074026]

>>6073776
Just because you want it to work that way doesn't make it so, retard.
Go to coin tracker or bitcoin.tax and actually try it.

[Anonymous No.6074031]

>>6073916
There was no loophole you fucking brainlet lol. That loophole never existed. It was a technical loophole but given the framework of the IRS, it never existed. It was never in the realm of contention except for a few rogue CPA's. That's all.

[Anonymous No.6074069]

>>6073808
cashing wouldn't be a gain unless you held for a while

if I made gains on link and traded it for bitcoin and immeadeatly cashed out there would probalby be zero gains on the bitcoin to USD trade

If I made gains on link when i traded to bitcoin, and then held bitcoin for a month and traded to usd for more gains, both of those are taxed.

it isn't that hard to understand but this retard brown anon thinks he is hot shit

[Anonymous No.6074133]

>>6073808
Implying they give a fuck and won't stoop to a new low to cripple crypto so they can force you back into wagecuck status where your wealth can be controlled by (((them))). Maybe try the lottery if you want to get rich quick.

[Anonymous No.6074137]

>>6073953

> buy 1 bitcoin for $9000
> when bitcoin is $16500, I trade it for 16.5 ETH

Your initial bitcoin purchase was an unrealized gain until the moment you traded it for ETH. Now you have a realized gain of 7,500$ that you MUST pay taxes on. Its not really that complicated and the fact that you cant figure it out is going to just fucking destroy you when the IRS finds out.

Seriously, hire an accountant.

[Anonymous No.6074151]

>>6074031
enjoy getting buttraped by the IRS by not paying taxes on your day trading :)

[Anonymous No.6074242]

wow good thing i dont live in a third world shithole

[Anonymous No.6074256]

>>6067605
Try selling crypto for a little less than what it's worth on craigslist or some shit. Takes more time and is still retarded that we have to resort to this, but gives you more in pocket money than having the government steal it from you to bomb some innocent kids overseas or have some irresponsible mother's baby killed.

[Anonymous No.6074262]

>>6074026
Those websites are there to assist in tax reporting as the IRS wants to see your trades because they are a bunch of anal cunts. But you are not taxed on unrealized gains. How hard is that to understand?

You need income to be taxed on it. Gains only on paper is not income. The IRS considers income to be a conversion to fiat.

[Anonymous No.6074310]

>>6074262
>But you are not taxed on unrealized gains. How hard is that to understand?
AT THE MOMENT YOU MAKE A FUCKING TRADE IN CRYPTO, ANY GAINS ARE REALIZED IN USD AT THAT POINT IN TIME

WHY ARE YOU SO FUCKING DENSE

[Anonymous No.6074316]

>>6072375
>4chan
>socialist

get out newfag

[Anonymous No.6074333]

>>6068600
Wrong, only against total income at the end of the year not in trade calc

[Anonymous No.6074339]

>>6074262
>unrealized
Because you don't seem to know the definition of this word.

[Anonymous No.6074372]

>>6074333
Yes, I now realize I'm wrong

[Anonymous No.6074380]

>>6074310

Just forget it, anon. He has to be trolling at this point. I can't imagine he's actually that stupid. I mean it's possible but really, there's no sense in arguing. Either one of two things is happening, a) he's trolling in which case arguing isnt doing anything, b) he's too stupid by this point to listen to reason in which case arguing isnt going to do anything.

He'll learn one way or the other.

[Anonymous No.6074446]

>>6068212
statist cuck

[Anonymous No.6074476]

>>6074151

Does this even happen? And don't go giving me ONE or TWO links to someone getting fucked over and being made an example out of publicly. DOES THIS SHIT EVEN FUCKING HAPPEN? You people are like guys saying "Enjoy Tyrone is prison lololol", implying jail = ass rape. All I see are people sucking gov cock and balls when they say this shit and trying to spread fear. Does the IRS really go after people for crypto? Someone enlighten me. I plan on paying taxes if I have to, but fuck not if there's a legit way around 'em.

[Anonymous No.6074478]

>>6074137
>Now you have a realized gain of 7,500$ that you MUST pay taxes on.

No, you don't. You pay taxes ONLY WHEN YOU CONVERT THE ETH TO FIAT. THEN YOU WOULD PAY TAXES.

Its STILL an unrealized gain because you traded it for ETH. NOT FIAT. That gain is going to be calculated into your capital gains tax when you cash out, IF its being traded for the very same amount when you do cash out.

Its not that complicated. Read investopedia. They say it themselves.

"As a general rule, you don't pay any tax until you've realized a gain. After all, you need to receive the cash made from selling at least part of your investment in order to pay any tax."

[Anonymous No.6074499]

>>6070371
Don't have a problem with this.

[Anonymous No.6074520]

Guys why even worry. The IRS will almost certainly never know about your crypto activity outside of coinbase/gdax.
Just pay taxes when cashing out and cover up your tracks as well as possible when it comes to alt trading.
If you end up with more normiecoins than you originally bought, say you got them from mining or something.
Why make a big deal out of this?

[Anonymous No.6074534]

>>6074476
unless u famous or wealthy asshole you apologize take fine and pay what they assess and move on

[Anonymous No.6074543]

>>6073776
The IRS will get hit HARD this year with this stuff. The documentation is fairly easy to scrounge up for all crypto transactions. What they dont realize is that all transactions is a lot more than anything else ever seen before. There is also more unique situations as well. One thing I want to see are more discussions on how to make the IRS completely unable to function.

Super complex trade loops where you have all of your data already mapped out and you can dump huge amounts of data on them that is all accurate and force them to go over all of it.

Like what happens if your coins are locked away and accessible as well?

What if there are systems where you can create new coins that are not technically a trade for every single trade?

We should be getting more creative with this shit.

[Anonymous No.6074550]

>>6074478
>No, you don't. You pay taxes ONLY WHEN YOU CONVERT THE ETH TO FIAT. THEN YOU WOULD PAY TAXES.

If crypto was not property you would probably be correct, but because crypto is considered property, you are 100% wrong

[Anonymous No.6074590]

>>6074137

Lol you think an accountant will know how to deal with crypto gains and losses? Kek

Tldr: not a single person in this thread has a clue how any of this shit works.

[Anonymous No.6074592]

>>6071209
You pay taxes on shit you find

[Anonymous No.6074614]

>>6074476
I don't know but suddenly cashing out 2k from coinbase I feel is worthy enough to get audited and I dont want the stress of not being prepared. I'm keeping my shit locked down

[Anonymous No.6074626]

>>6073545
indeed, good luck IRS arguing a shitcoin trade for another shitcoin is a realized gain until you cash out in FIAT

don't trade coins that have USD pairs and you are golden

the end

[Anonymous No.6074674]

>>6074478
This exactly. You pay taxes on realized gains once you throw it into fiat. So let's say I put $500 into crypto this year, and now it is $2000, I do not pay tax on that $1500 until i cash into USD.

[Anonymous No.6074683]

LOOK AT ALL THE RETARDS IN THIS THREAD

>Move to Europe temporarily
>Open Swiss bank account
>Cash out gains
>Live in Europe (nice countries not yuropoor CUNTries) for 4 years
>Move back to U.S.

[Anonymous No.6074686]

>>6067605

Other toothpastes here comfy knowing we have no cap.gains taxes?

[Anonymous No.6074698]

>>6073408
i could see this shit happening no joke, fuck.

[Anonymous No.6074707]

>>6074590
if you keep your record keeping together they probably will know

[Anonymous No.6074757]

>>6074550
It works the same way for property. (property is an asset)

[Anonymous No.6074765]

>>6071896

our lack of rudimentary education will kill democracy

[Anonymous No.6074766]

>>6074683
>get taxed on it anyway because you are an american citizen and you are income taxed no matter where you live
lol

[Anonymous No.6074776]

>>6073535
im going to pay my taxes but everyone keeps claiming "cash out with monero" and im jus curious how they think this will work out

[Anonymous No.6074835]

>>6074757
How are you so wrong its mind boggling lol

Some people think they can escape taxes by arguing they received a gift. Another classic in the panoply of "I'm not taxable" claims? The "nontaxable" trade. Hey, how can I be taxed if I just traded my laptop for an electric guitar?

Easy, the IRS says so. Income is usually created on both sides of the deal. The IRS starts with a down-home definition. Bartering is trading one product or service for another, whether informally and one-on-one or with multiple parties in a commercial setting. It has a storied, even ancient tradition.

"Our ancestors may have exchanged eggs for corn," explains the IRS, but "today you can barter computer services for auto repair." The IRS also lists plumbing services for dental work. You name the swap, the IRS wants to tax it.

[Anonymous No.6074849]

>>6074683

Seriously doing this if I make millions. Fuck all you gov cockriders for calling people like me a criminal because I don't trust where my fucking tax money goes, on top of wanting to take WHAT I MADE FOR MYSELF, BY MYSELF, AND KEEPING IT.

[Anonymous No.6074877]

>>6073953
this. and if you didn't file a 1031 form for every single trade you made it doesn't even count

[Anonymous No.6074891]

>>6073219
except you won't just rely on cash money

crypto will be accepted everywhere

[Anonymous No.6074919]

>>6074765
we founded a republic dude. Democracy is EVIL

[Anonymous No.6074956]

>>6073408
buy tether and end it, charge a .05 transfer fee per tran

[Anonymous No.6074966]

they cant track your trades on exchanges outside of you country of origin. you will only pay a tax once you cash out in fiat. they cant tax you on a crypto to crypto trades if they dont recognize what it is.

just replace and scenario of crypto trades with Magic the gathering cards. now picture each crypto is a unique magic card. Its basically the same thing. EACH MAGIC CARD HAS ITS OWN VALUE THAT FLUCTUATES WIT THE MARKET. They arent shutting down card shops nation wide are they

[Anonymous No.6075021]

>>6074683
Just pay your taxes anon, it's cheaper and less of a hassle.

[Anonymous No.6075022]

>>6067716
Jesus christ you're fucking retarded. Crypto is property in the eyes of the IRS. That's all. Property has existed long before crypto and nobody's ever owed more than they gained on it. If your coin crashes and you trade it you realize a loss, and if your coin rises and you trade it you realize a gain. They cancel each other out and you are taxed only on excess gains -- your actual fucking profit. Excess losses can further be deducted from OTHER sources of income, but only $3000 per year (this rolls over so if you have a really bad year you could be deducting it over the course of multiple years after).

There's no way to manipulate the numbers on the tax forms in such a way that you owe more than you gained, even if you experienced a net loss. The only way to do make that happen is if you lie and say you gained way more than you did.

[Anonymous No.6075101]

>>6074766
everywhere except puerto rico, but who tf wants to live there

[Anonymous No.6075110]

>>6074698
It would be by far the smartest move for them to do. And it would be the king of crypto in less than a year as well. It would be even better for them to control things too.

[Anonymous No.6075119]

>>6074835
>the IRS wants to tax it
How much do you think they actually collect from bartering trades? Practically nothing. Nobody reports that nor should they.
The IRS is absolutely horrible at collecting taxes that weren't already deducted from salaries. They don't have the manpower to do so.

[Anonymous No.6075175]

going to be a lot of stolen monero wallets this year ;)

[Anonymous No.6075199]

>>6074919

pure democracy is foolish, our republic is a democratic republic, its what we of course refer to when we say 'democracy'

[Anonymous No.6075218]

>>6074849
It's one of the most naive and obvious things to try. Do you think people never before thought of this after getting rich? IRS probably deals with these scenarios daily.
>take WHAT I MADE FOR MYSELF, BY MYSELF, AND KEEPING IT.
Please stop stealing the use of public infrastructure and services.

[Anonymous No.6075226]

>>6075119
Doesn't matter if they dont report it. What makes it easier to spot is because the only real way to cash it out is through a service like coinbase directly into your bank account. If I make a million this year off of a 1k purchase and it gets flagged to the IRS, I'm boned

[Anonymous No.6075244]

>>6074520
For one, you lose money this way. You don't get to deduct the principle or fees as the cost basis for the trade and you can't claim long term gains if you have any.
Second, without establishing a cost basis chain, you really could end up with the nightmare scenario where they claim you sold 300k worth of crypto (the total $ amount I myself sold in every trade this year) with out the purchases to offset it and the losses to offset your gains. I made 30k, but could end up owing 4 times that.
Finally, in an audit you are expected to source your income, there are laws in place to prevent laundering and you would at the very least be on the hook for late fees and fines.

[Anonymous No.6075262]

do i get taxed on my MTG cards if i make a capital gain when i sell it on ebay? they cant enforce that law. only pay taxes when you convert to fiat. If i buy a MTG card and WoTC decides to reprint it to shit or releases cards that make it obsolete, then can i claim a loss at the end of year?

[Anonymous No.6075270]

>>6068678

Then tell them to make you. You submit your taxes as you would and make their lawyers come to you for the rest. Tell them to bring their subpeonas and to send a copy to china lol

[Anonymous No.6075291]

>>6075021
Its less of a hassle if you pay what you cash out. If you pay on crypto to crypto trades and shit like that its a nightmare for you AND the IRS.

[Anonymous No.6075304]

>>6067787
>cash out
Monero is cash. What is the incentive to take crypto and exchange it for a shit fiat currency regulated by a government who wants to steal it?

[Anonymous No.6075308]

>be germancuck
>hold 1 year

0% (zero) tax

well done, land of the (((free)))

[Anonymous No.6075335]

>>6074137
you didnt realize any gainz bro. you literally still have 16,500. instead of the ticker saying btc it now says eth. still unrealized gainz. still have 7,500 that if you cashed out that eth the next day youd pay tax on. you dont pay tax on the gains from btc and then cash out from eth to fiat and pay tax again.

[Anonymous No.6075357]

>>6067605
or you could just send it all to an exchange and convert it to monero then sell the monero to people in person for cash. might take a while to move that much though.

[Anonymous No.6075383]

>>6074891
Thanks senpai. I can work low key at some shit job and sit on a million in crypto.

[Anonymous No.6075393]

>>6075262
technically, yes. they don't care about nigger pennies but try making 100k USD on selling MTG cards and not paying any tax and you will be hearing from them in a few years.

[Anonymous No.6075409]

>>6075262
Strictly speaking, yes all of that is true, with the one caveat that to claim that loss you have to actually trade the card for a loss, whether by selling it for less or by exchanging it for a card that's worth less.

Practically speaking of course you won't get taxed because nobody's going to bother to report that shit.

[Anonymous No.6075410]

>>6075335
>you didnt realize any gainz bro. you literally still have 16,500. instead of the ticker saying btc it now says eth. still unrealized gainz.

literally wrong. Enjoy your prison time.

[Anonymous No.6075440]

>be american
>have taxes deducted from your income
>go to casino
>gamble your income which was already taxes
>win $100,000
>government now wants $45,000 from winnings made on money was already taxed and they had zero risk invested
>if you lose money you can't deduct from your income tax
Why is this allowed?

[Anonymous No.6075446]

>people worrying about the IRS when they are understaffed and underfunded and have to worry about all the new paper work from the tax bill passing

[Anonymous No.6075451]

>>6075335
You realized gains upon the trade from BTC to ETH and are taxed. If you cashout the ETH immeadiately for the same USD price that you traded the BTC to ETH, you would have no gains to be taxed.

[Anonymous No.6075468]

>>6075262
How different is Ripple from World Of Warcraft gold? I think the signs that gaming is going to get taxed are coming. Little Jimmy got that rare sword drop from a raid. He better be ready to pony up for uncle Sam!

[Anonymous No.6075471]

>>6075291
>accounting is too difficult, i'd rather move around from country to country without ever coming back home for a minimum of 4 years

[Anonymous No.6075472]

>>6075244
>Second, without establishing a cost basis chain, you really could end up with the nightmare scenario where they claim you sold 300k worth of crypto (the total $ amount I myself sold in every trade this year) with out the purchases to offset it and the losses to offset your gains. I made 30k, but could end up owing 4 times that.
Only if they get your alt transaction history which they won't.
In reality they would have no case against you.

[Anonymous No.6075480]

>>6075410
you don't go to prison for making mistakes you only go for lying on purpose and covering shit up

[Anonymous No.6075491]

>>6075218

Not paying if I don't have to and can get away with it. I'm not gonna play your jew game "Please stop stealing x and y" what are you even getting at here? It's so tryhard.

[Anonymous No.6075498]

>>6075440
Jews

[Anonymous No.6075513]

This is the only reason why I'm quitting crypto

[Anonymous No.6075526]

So is the crypto to crypto tax only for the capital gains you made before swapping? Or do taxes have to be paid if you just swap an equal amount of crypto 1000?

[Anonymous No.6075538]

>>6075291
Do you not want to deduct trading fees from your taxable gains?

[Anonymous No.6075575]

>>6075440
The tax code is geared towards ensuring the middle and upper-middle class pay everything while the ultra rich largely escape unscathed.

Auditing used to be aimed towards the rich, but Reagan changed the philosophy of the IRS so now they go after people making 70 to 200k who cheat a tiny bit on their taxes while the banksters of the world go untouched.

[Anonymous No.6075601]

>>6067787
>>6068158

Some of us have made enough from crypto that it would be impossible to hide the wealth.

But you and ur edgy libertarian friends will get away without paying taxes on your 5k gainz

[Anonymous No.6075606]

>>6075526
If I buy ETH for $10 bucks, and then a day later trade it for BTC, but ETH is worth $100, I am on the hook for short term capital gains on that $90.

[Anonymous No.6075632]

>>6075538
Not if it means I have to pay money I literally don't have.

[Anonymous No.6075653]

>>6074766
I’m not sure if FATCA has actually really been enforced up till now.

[Anonymous No.6075655]

>>6075393
Well yeah, you pay when you turn it into fiat asshole. You don't pay taxes when you trade a card for another fucking card.

[Anonymous No.6075668]

>>6075446
I get that your trying to calm these poorfags down but the retard in you cuts through everything else
Its way less tax paperwork you simple cunt

[Anonymous No.6075675]

>>6075480
wrong

and not sure if trolling or retarded

[Anonymous No.6075678]

>>6075526

What matters is the USD you paid for your initial crypto.

If you buy $200 worth of bitcoin on Coinbase, and then bitcoin goes up and you now have $250 worth... you could cash it out and you would have to pay tax on $50 gains, or if you traded it then for ethereum, you gained $250 worth of ethereum, or $50 more than what you paid, so you realized $50 gains on the ethereum... so you owe taxes on that.

[Anonymous No.6075739]

>not opening bank account in the country that doesn’t disclose information to your government
>not cashing out as gifts

Stupid muricans

[Anonymous No.6075740]

>>6075678
what if you mined your initial investment?

[Anonymous No.6075759]

>>6075472
It's on you to source your income, they don't have to prove anything. You owe 120k, prove that you don't.

[Anonymous No.6075775]

>>6070416
They will make us pay tax on crypto gains with the same coin year after year. Gotta be strong and risk jail to not let them destroy the movement. If they send armed police to seize our prop or arrest us because we do not agree to slavery... then we must treat those members of law enforcement as criminals. WE ARE NOT THE CRIMINALS. WE MUST EARN OUR FREEDOM BECAUSE OUR GRANDPARENTS PARENTS GAVE IT UP FOR NOTHING!!!!!

[Anonymous No.6075782]

>>6075740
Depends if you used a mining pool or not. Pools complicate taxes quite a bit, might get in trouble there.

[Anonymous No.6075810]

>>6074835
>Some people think they can escape taxes by arguing they received a gift

Gifts are not taxable.

>You name the swap, the IRS wants to tax it.

Only when your asset is cashed out into fiat, otherwise its not considered realized gains. Its only unrealized gains until you close your position and PROFIT from it.

The IRS wants a cut of the profits you male. Otherwise its not taxable.

[Anonymous No.6075816]

Tax expert here: 1) you cannot deduct losses. But the gain is taxed. 2) moving to another jurisdiction does not resolve the tax issue, but could bring you under money laundering provisions (which bring in the SEC and FBI and have far reaching powers). 3) solution is, calculate your gains, offset it with your loses, and take advantage of the new Republican tax plan by investing in equipment and machines which are immediately deductible, or real esate (check out 26 U.S. Code § 42, a sweet and illegal tax shelter).

[Anonymous No.6075834]

>>6075782
from my understanding you wouldn't count the payout until its actually into your wallet , otherwisey ou aren't truly in possession of it

[Anonymous No.6075858]

>>6075740

That gets more complicated, but essentially, you owe taxes on what you mine. If you mine $200 worth of bitcoin, as in you get the payout into your posession and at the time of doing so, the USD value of the amount of bitcoin you gained is $200, you owe income tax on that. The rest still applies afterwards

[Anonymous No.6075910]

Tax expert here: 1) you cannot deduct losses. But the gain is taxed. 2) moving to another jurisdiction does not resolve the tax issue, but could bring you under money laundering provisions (which bring in the SEC and FBI and have far reaching powers). 3) solution is, calculate your gains, offset it with your loses, and take advantage of the new Republican tax plan by investing in equipment and machines which are immediately deductible, or real esate (check out 26 U.S. Code § 42, a sweet and LEGAL tax shelter).

[Anonymous No.6075918]

>>6075451
ah fuck... this is correct.

[Anonymous No.6075962]

And yes if you make a shit load of money in trades and DONT cashout, but still report it correctly, you will probably owe money that you don't actually have in FIAT.

[Anonymous No.6075972]

>>6075759
The IRS can't make you pay anything without a trial. The burden of proof is ultimately on them.

[Anonymous No.6076000]

>>6075538
No I want to pay my taxes and I want shit to be simple. The one extra step to track every single fucking time I fucking get an upvote on steemit.

I would pay money to not have to think about that shit. Everyone on this topic can go fuck themselves. I am not going to go down this insane rabbit hole of documenting every fucking tiny detail.

I want to pay my taxes but I am not willing to lose my fucking sanity over it.

[Anonymous No.6076009]

australia is also fucked

30% tax and i dont know how to circumvent it besides the 50% off the tax if you held the crypto for atleast 12 months

if any aus knows how to lower it , that would be sweet

[Anonymous No.6076043]

How could they tax me if I quite literally DON'T HAVE ANY FIAT?

All of my money is literally in crypto right now. They absolutely cannot force me to sell my crypto to pay for taxes on unrealized(fiat) gains.

[Anonymous No.6076061]

>>6067605
really depends on what tax bracket you're in.

[Anonymous No.6076098]

>>6076043
Because its property in the eyes of the IRS anon

[Anonymous No.6076106]

>>6075962

This is where the problem lies. If you owe money and then right after tax bill is due, the entire crypto market up and disappears, you still owe that money and have nothing. The likelihood of that happening are zilch, but it could be that your crypto position tanks and then you are left with no crypto worth any fiat but still a huge tax bill.

>>6076043
They absolutely can force you to sell your crypto to pay your taxes. Welcome to the united states

[Anonymous No.6076113]

>>6076009
also should add the govt also requires you to record literally every transaction youve made and the price in AUD

[Anonymous No.6076127]

>>6076043
This
>>6069894
It's called tax harvesting.

[Anonymous No.6076132]

>>6075740
According to this thread Satoshi doesn't owe taxes. So mining should mean you dont owe anything too.

[Anonymous No.6076151]

still wondering why people think they can cash out with monero so easily....i mean sticking everything in monero is a great idea, getting it into USD and living lavish is another story

[Anonymous No.6076162]

>>6076098
That doesn't matter though because I'm never cashing out until I decide and they cannot force me to. Also, how is something called cryptoCURRENCY fucking property?

[Anonymous No.6076172]

>>6067716
>the city of retards on /biz/

[Anonymous No.6076183]

>>6076132

Mining is 100% income as if you were paid by a company at a job. You must declare mining gains as normal taxable income at your normal taxable rate

[Anonymous No.6076187]

>>6076106
>This is where the problem lies. If you owe money and then right after tax bill is due, the entire crypto market up and disappears, you still owe that money and have nothing. The likelihood of that happening are zilch, but it could be that your crypto position tanks and then you are left with no crypto worth any fiat but still a huge tax bill.

And this is why I'm not making a shit load of trades and getting out after I've made only a couple thousand. I dont want a giant headache come next years tax prep time.

[Anonymous No.6076217]

>>6075910
>start nonprofit for autism
>withdraw gains to nonprofit
>gift gains to [autistic] self
come at me, bro.

[Anonymous No.6076232]

Hope my accountant has fun calculating over 100,000 trades this year!

[Anonymous No.6076249]

>>6067716

this is the dumbest fucking thing i've ever read on biz. holy shit. just cash out and leave. you're too stupid to be playing with internet money if you don't understand how capital losses work. fucking hell.

[Anonymous No.6076252]

realization events that are includable in gross income. when you mine, as soon as you get the coin, you have a realization event and are you taxed. when you exchange one coin for another, there is a realization event and you are taxed. when you sell....in other words. we are fucked!

[Anonymous No.6076274]

>>6076162
You don't have to cashout but if you choose to report you made 100k this year after all your trades resulted in gains, you are going to owe taxes on those gains.

And if you are making that much I highly highly suggest you don't withhold the taxes

[Anonymous No.6076286]

>>6075526
>So is the crypto to crypto tax only for the capital gains you made before swapping? Or do taxes have to be paid if you just swap an equal amount of crypto 1000?

You pay taxes on the gains once they are realized (cashed out to fiat). The IRS considers a conversion to fiat "profit" and thus you are taxed on it, short term or long term.

You are taxed on literally every crypto-to-crypto trade, but you dont pay that until you convert whatever btc you have to fiat, otherwise its unrealized gains.

>>6075451
>You realized gains upon the trade from BTC to ETH and are taxed.

This is wrong. You only realize gains when you cash out to fiat. These are unrealized gains(gains on paper only)

https://investor.vanguard.com/investing/taxes/realized-capital-gains

Realized gains vs. unrealized gains
Gains that are "on paper" only are called "unrealized gains." For example, if you bought a share for $10 and it's now worth $12, you have an unrealized gain of $2. You won't pay any taxes until you sell the share.

Unrealized gains could be very important if you invest in funds, however. When you buy shares of a mutual fund or ETF (exchange-traded fund), you're also "buying" any unrealized gains it has—and you'll be subject to their eventual taxation.

[Anonymous No.6076314]

>>6076061
I got sick and basically lived off foodstamps and made 0 income in 2017

I did cashed out $500 from an ethereum sale on coinbase I bought at $250. Do I owe anything on that $250 difference from short term capital gains?

I am supposedly on the lowest bracket

[Anonymous No.6076339]

>>6076286
>You pay taxes on the gains once they are realized (cashed out to fiat).
NOBODY LISTEN TO THIS GUY.

EVERY CRYTOCURRENCY TRADE YOU MAKE IS A TAXABLE EVENT. THIS ANONS ADVICE IS WRONG.

[Anonymous No.6076355]

>>6076187

Which is their whole plan. They want to make working with cryptocurrencies such a headache that people just stop using it. Easier and more legal than trying to get ISP's to block crypto work, or stop banks from being gateways into it. They are working on the latter, sure, but this is just one of the ways to stop the cryptorevolution.

That said, the vast majority of people on /biz/ are unaffected. If your portfolio is under 2-5k, aint no one goin to give a shit at all. No one is even going to bat an eye if you get audited. You can just say "Oh... shit really? Well, here's what I got I thought I just paid when I cashed out".

You'll get a slap on the wrist, some penalty fees and thats it. What matters is people with 5 or 6 digit portfolios who are trying to avoid paying taxes because "hurrrrr i traded it for FUN coin so its not really taxed" like some dipshit sovereign citizen.

[Anonymous No.6076363]

>>6076106
wait so i bought bitcoin at 1 dollar and it went to 10 dollars and i sold for 10 ether now eth found bug and worth $0...i owe tax on $9 but have no money to pay the tax...OR thats why i should pay the tax on $9 when i "realize the gains" from btc to eth so i dont get stuck in this position.
i think i fucking get it now...

[Anonymous No.6076383]

You gains. Give them to me.

[Anonymous No.6076403]

>>6076314
is this a joke

[Anonymous No.6076414]

>>6076274
>you don't have to cashout
so then why would I ever? They clearly cannot make you sell your property if you're not getting any fiat gains from it. It's all unrealized til the point you cash out, so if I don't report any "real gains" they have no reason to tell me to sell my positions to pay taxes. It quite literally makes no sense.

[Anonymous No.6076415]

>>6076339
This is an IRS shill. WE HAVE THE POWER TO DESTROY THEM ITS TIME TO BRING COMPETITION TO MONEY ISSUANCE LIKE THE CONSTITUTION ALLOWS!!!!

[Anonymous No.6076454]

>>6076355
I realize I wouldn't be that fucked but I don't want the mental burden of all the tax stuff, even with a CPA's help.

[Anonymous No.6076456]

>>6076249
>you're too stupid to be playing with internet money if you don't understand how capital losses work. fucking hell.


See thats the problem with crypto. I have an IQ of 85 and just by following hype on /biz/ iv made over 200K. Im not going to even bother reporting this shit to the IRS becuase im too fucking stupid to do it right and would end up giving them way more than I need to.

[Anonymous No.6076479]

>>6076183
So then Satoshi is taxed on his gains as well. right?

[Anonymous No.6076488]

>>6076098
Capital gains for stocks is pretty much treated the same way for personal property (crypto)

[Anonymous No.6076493]

>>6076363

Correct. This is why you see people discussing how your trades are FIFO or FIRST IN FIRST OUT.

If you buy a bitcoin at $1, and then a month later buy another at $3, and then a month later bitcoin is $10 and you trade even steven for 10 ETH, the tax calculation is done on the FIRST trade. So its $1 in the eyes of the gains, meaning you now realized $9. If you then commit another trade at BTC/USD $10 for another 10 ETH, it uses your NEXT earned bitcoin which you paid $3 for, so your realized gains is $7.

You owe taxes on both of these amounts regardless of what you do with the ETH. You could cash the ETH out and use the money to pay for it, or you could throw the ETH into the recycle bin. Either way you still owe that $9 + $7

[Anonymous No.6076500]

>>6076414
If you aren't day trading to rake in dosh you are propably fine assuming you are holding it over a year, but if you are moving coins around this year while making big gains you are making taxable transactions.

[Anonymous No.6076501]

>>6076415

http://constitutionus.com/

Start reading boys. Section 8 if your a faggot who doesnt like reading it

[Anonymous No.6076519]

>>6075632
You can cash out some of your cryptocurrency to pay?

>>6075655
Trading a card for another card is barter, and technically taxable. I imagine most people don't bother reporting it, though.

>>6076043
That's what they expect you to do. Cash out your gains to pay taxes.

>>6076000
As far as I know, you don't have to report steemit upvotes as trades, because they are not an exchange of property.

[Anonymous No.6076565]

start, withdraw: all legal. But gift? no so. First corp has limit, second, anon, your wings get clipped by the principle of a case called, Duberstein, which requires that gifts be “detached and disinterested”

[Anonymous No.6076598]

>>6076339
>EVERY CRYTOCURRENCY TRADE YOU MAKE IS A TAXABLE EVENT. THIS ANONS ADVICE IS WRONG.

No you spastic retard, he's correct.

Every trade is a taxable event, yes. But thats just the wording of the law. In reality, you are only taxed when you take profit and convert to fiat. The IRS doesn't consider your investment "realized gains" if you dont cash out.

[Anonymous No.6076599]

Give me your gains. Now.

We have niggers and college students to feed.

[Anonymous No.6076600]

>>6076314
$0-$9,325 is 10%
$0-$18,650 is 15%
Keep in mind your gains get added to income to determine that bracket.

[Anonymous No.6076611]

>>6076565

[Anonymous No.6076626]

>not just HODLing until Zuck Jew wins in 2020

[Anonymous No.6076641]

>>6076488
And if you buy and sell stocks you will owe taxes yes.

In our case trading crypto is a TAXABLE FUCKING EVENT, which will be taxed as if I just sold stocks for a gain. It isn't that difficult dude. The only difference is you aren't actually gaining FIAT in the transaction for paying off the tax purposes.

[Anonymous No.6076657]

We have so many niggers. So many mouths to feed. We need your gains, white man.

Hand them over.

[Anonymous No.6076662]

>>6076519
And I'll have to pay taxes on that.
It's fucking retarded.

[Anonymous No.6076684]

>>6076598
So never cashing out is the solution to beating the jews?

[Anonymous No.6076697]

>>6076598
>The IRS doesn't consider your investment "realized gains" if you dont cash out
The trading is considered "cashing out" in the IRSs eyes you fucking retard. Thats what you dont understand

[Anonymous No.6076708]

>>6076339
He just said you are taxed on all of your gains. When you cash out you are taxed on those gains.

Its so fucking simple. If it was done any other way then people will go to jail for simply owning an ethereum from 4 years ago. Like what?

He is the only one making fucking sense right now.

[Anonymous No.6076728]

why doesn't the US government let people cash out tax free? it will all get spent on burgers and nascar events anyway. the economy will boom

[Anonymous No.6076732]

>>6076355
>Which is their whole plan. They want to make working with cryptocurrencies such a headache that people just stop using it.
Get out of here with your paranoia. Cryptocurrency is being taxed just like any other property. They're not singling it out with some special rules.

[Anonymous No.6076746]

>>6074133
Why do you idiots act like these get rich quick for early entry have never existed? We were ALWAYS goimg to pay taxes on crypto. Anyone that thought the government would just be like "lol oh well!!!" is a fucking moron. You could have gotten rich during the dotcom boom. The oil boom. The property boom. The credit swap boom. Etc etx etc. These things to make money come and go, and the tax man gets his EVERY TIME.

[Anonymous No.6076758]

>>6076500
Bullshit. I could day trade all year and the gains would still be unrealized because I haven't cashed out to fiat. Until I see numbers in my bank account the gains are unrealized. Sure they can be "taxable transactions", but they cannot force me to cash out my positions to pay taxes on those coins until I want to sell my positions. These aren't houses we're trading.

It's so fucking retarded that governments consider cryptoCURRENCY to not be a fucking currency

>>6076519
There's absolutely zero way they can force me to cash my positions to pay for taxes

[Anonymous No.6076774]

>>6076697

No it isn't, imbecile. It's an unrealized gain. A gain on paper.

Stop fucking typing and go get a rope to hang yourself with.

[Anonymous No.6076779]

>>6075910
In terms of investing in real estate... you are referring to cashing out and buying with the gains?

[Anonymous No.6076787]

>>6076708
>>6076708
>He just said you are taxed on all of your gains. When you cash out you are taxed on those gains.
Yes, you are taxed on your gains. Except according to the IRS, the minute you trade BTC to ETH for gains relative to the USD, you now owe taxes, regardless of whether or not you can hold USD in those gains. it's non negotiable.

[Anonymous No.6076788]

>>6076708

Trading cryptocurrencies is cashing out in the eyes of the law. You gained some amount of property based on the value that your other property gained. You *realized* the increased value of your original property by gaining additional property. Thats what realized means. Its not just gaining US Dollar cash for it

[Anonymous No.6076791]

All this hand wringing about crypto to crypto trades being taxed seems silly. It's like worrying about buying a computer on newegg and paying with bitcoin. Technicall you owe tax on that too. How is the IRS going to ever know about your trades you did on some chinese exchange or on shapeshift unless you A) either explicitly tell them, B) make a huge deposit into your bank account and then can't explain it properly.

[Anonymous No.6076821]

>>6076758
>There's absolutely zero way they can force me to cash my positions to pay for taxes

Maybe not, but they can put you in prison until you comply.

[Anonymous No.6076835]

>>6076493
this makes it very difficult to trade because it strips your purchasing power out from under you. youll always be poor like this so it seems 1 step forward IRS takes you 2 steps back, yes you made a money but thats fucking it for ya cause now you have even less capital to work with....

[Anonymous No.6076841]

>>6075226
Then you make the argument that the money you received is not income.

It is up to the IRS to prove otherwise.

[Anonymous No.6076850]

>>6076600
So I would owe 10% off my gain?

[Anonymous No.6076852]

>>6076708
Because you are too simple to understand it, or simply don't want to.
http://cryptocurrencyfacts.com/2017/12/30/the-tax-rules-for-crypto-in-the-u-s-simplified/

[Anonymous No.6076876]

im trading on binance anyway with the chinks, they wont give any data to the IRS
also decentralised exchanges are good, wont be able to track that

[Anonymous No.6076880]

tax is theft

[Anonymous No.6076889]

>>6076662
You don't pay tax twice on your gains, if that's what you're implying.
>>6076708
>If it was done any other way then people will go to jail for simply owning an ethereum from 4 years ago.
I don't see where you're getting this. Please explain your thought process.

[Anonymous No.6076909]

>>6075816
Good lord you are a fucking moron.

[Anonymous No.6076919]

>>6076821
Lol put me in prison for unrealized paper gains? Fat chance.

[Anonymous No.6076920]

>>6076850
If you are the lowest bracket, yes.

[Anonymous No.6076979]

>>6075816
>Update

what the fuck are you talking about? you can deduct up to 3 grand in losses per year. "tax expert".

[Anonymous No.6076981]

>>6067716
You goddamn lying fucking jew. You do not calculate your gains until the end of the year, with all losses figured in. You will not owe taxes if you crash. You don't owe taxes when you switch coins. (Your move from BTC to LNK would be consider a gain followed IMMEDIATELY by an equivalent expenditure resulting in 0 on-paper gain.)

Every goddamn one of you kikes deserved the gas chambers. It's a shame the holocaust wasn't real.

[Anonymous No.6077024]

>>6076728
they need to get their grubby hands on more money to fund the trillion dollar deficit that they'll never fix if they don't get their shit in order.

[Anonymous No.6077026]

>>6076920
Thanks bro, have a you

[Anonymous No.6077027]

>>6076774
You are incorrect. Barter is taxed, whether you like it or not. No point arguing it. Look it up for yourself.

[Anonymous No.6077039]

so how much do you get back at tax time for loss trades? or do they only want the profits?

[Anonymous No.6077047]

>>6076981
>Your move from BTC to LNK would be consider a gain followed IMMEDIATELY by an equivalent expenditure resulting in 0 on-paper gain
what

[Anonymous No.6077073]

>>6076519
>As far as I know, you don't have to report steemit upvotes as trades, because they are not an exchange of property.

If thats true then Steemit is a tax haven. Load up an account with all of your earnings. and sit on it while getting upvotes from people.

Yeah, steemit upvotes are "mining" currency" for sure.

[Anonymous No.6077101]

>>6077024
they can't get the economy right now, what makes them think they'll get it right in the future?

[Anonymous No.6077171]

>>6077101
good point lol
damn i hate taxes

[Anonymous No.6077173]

>>6077101
They won't, lol, the government is literally running a ponzi scheme

[Anonymous No.6077201]

>>6076641
Nobody is not saying this. The argument is when you need to pay. You pay when its realized gains.

This makes so much fucking sense. And it would be perfectly fine to do it this way.

[Anonymous No.6077205]

>>6071216
>Except that is wrong, you sell crypto every time you trade it for another crypto.
I "sell" 1BTC and use it to "buy" the equivalent of 1BTC of Doge. Your "gainz" are immediately negated by your buy down to the fucking microsecond, which would be considered a business expense.

$10000 + ($10000). You lying jews invented accounting (and the holocaust), so do the math cryptokike.

Fuck yourself with your own circumcised jew dick Rabbi.

[Anonymous No.6077223]

How do taxes on crypto work for a non-US citizen studying in the US?

[Anonymous No.6077242]

>>6077201
The trading of currency makes them realized because you traded property worth something

[Anonymous No.6077257]

>>6067716
Accountant here. 90% of the shit you said is wrong, and crypto never qualified for like-kind. It has always been treated as stock in the past. I was actually going to try and help you poor bastards but OP and pretty much the entire thread is just beyond fucked with misinformation.

Hire a CPA and dont listen to the fucking retards on /biz/.

[Anonymous No.6077284]

>>6076697
>The trading is considered "cashing out" in the IRSs eyes you fucking retard. Thats what you dont understand

You cant "cash out" with property you fucking moron. When the fuck was the last time someone said "cashing out" meant buying house! HAHAHA

If they consider it property then it isnt cash.

[Anonymous No.6077309]

>>6077257
Crypto is a currency not a stock. It's quite literally named Cryptocurrency for that reason alone. Why is the government so fucking retarded? How long until this stupid rule is changed? Clearly it isn't correct.

[Anonymous No.6077312]

>>6077047
Basic accounting, you dense fuck. You didn't make any money if you just immediately re-invested it into a new buy.

There hasn't even been a new "crypto law." It's a completely unrelated real estate code that got changed by internet jews need their Soros money pushing FUD against crypto.

>>6077205

[Anonymous No.6077340]

IRS Form 8949 is where you would report your cryptocurrency trades.
So here's the link to the 2017's instructions. Hopefully somebody finds them useful.
https://www.irs.gov/instructions/i8949

[Anonymous No.6077359]

>>6077257
I literally dont understand why you even have to pay taxes when you have a private wallet that is offline and which can then be sent to an exchange to cash out.

Monero cant be traced so profit

[Anonymous No.6077417]

>>6074543
It's surprising how little I've heard of the NSA ever since the beginning of the 2016 elections. Imagine what they're doing with all that raw computing power, it's perfect for keeping track of every single crypto trade.

They will likely be able to print out a sheet after giving a name that shows every single transaction you have ever made, where you've ever cashed out, where you've ever switched to a hardware wallet, and combine that with the rest of the information they dredge and they can track your phone to the point in the woods where you buried the Ledger

[Anonymous No.6077492]

>>6077205
>>6077312
If I pay 100 bucks on BTC and it goes up to 1000 bucks and I buy 1BTC of Doge, I just realized the 900 dolalr difference in gains

[Anonymous No.6077494]

Is it safe to say you just go by paying half of what you cash out?

[Anonymous No.6077495]

>>6077417
why the fuck would you bring your phone to the desert/woods where you bury all of your shit?
why wouldnt you encrypt your HDDs too?

[Anonymous No.6077550]

>>6077492
not how it works. Trade stocks for other stock and you pay captial on the cash out gains

[Anonymous No.6077559]

>>6077495
>implying they don't have back doors in any piece of tech they allow to be sold in this country

[Xspec No.6077604]

>>6072375
>4chan, a site populated by socialists
Is this literally your first day here you Boomer retard fuck?

[Anonymous No.6077605]

>>6077559
but there are court cases where police or investigators couldnt open the HDDs

you can also make your own timed encryption program. that is fool proof

[Anonymous No.6077662]

>>6077550
show me where you can trade stocks for stocks

[Anonymous No.6077699]

ok what country is best to withdraw my crypto money into a bank and pay less then 30% tax?

[Anonymous No.6077705]

I've cashed out over 200k this way

In my town they have ATM's. I know the owner, and I know they hold approx 80k at any time.

>I buy a burner phone off the dark web
>go to atm machine
>start transaction
>sends me a txt, i confirm
>send LTC to machine
>cash out

it's that easy. I just have a shit load of cash lying around now, but it pays for most things.
I believe they'll get rid of cash completely, because they don't want you to have any privacy what so ever

[Anonymous No.6077723]

>>6077699
A better question is where do you live right now.

[Anonymous No.6077747]

>>6068471
The IRS doesn't know what you paid in USD when you used BTC to buy LINK they sure as hell aren't going to tax you in USD for it

[Anonymous No.6077761]

>>6077662
you cant except privately I think

[Anonymous No.6077774]

>>6077723
i live in australia

[Anonymous No.6077840]

>>6077705
They will never get rid of cash because it reduces their seigniorage. When it boils down to it, there is no good reason to know where every penny farthing is.

[Anonymous No.6077870]

the tax laws go that if i buy and then sell later while still having everything in the exchange i owe taxes, doesnt matter if my money hits the bank or not.

so all the money that you reinvested in, panic sold, fomoed, and just straight up noob mistakes in the exchanges are now taxable.
all the transfers between exchanges are now taxable.

[Anonymous No.6077896]

>>6077774
Then pick a country which allows Australians to open bank accounts and which is easily accessible.

[Anonymous No.6077920]

>>6077417
Cool! So they will do it all for me?
Awesome sign me up. Now I dont have to deal with this shit and can pay taxes without having to fucking stress out constantly.

Bottom line is though, every trade is a taxable event. But you pay the taxes when you cash out. People are arguing left and right but not realizing we are saying the same shit.

Yes every trade is taxable. But its not realized gains until its in your bank account. Doing it any other way causes massive problems. How the fuck are they going to force me to sell shit that I own? People who have no money will be hit super hard with all kinds of bullshit penalties because they had coins they didnt know about. You will have shit where losing a wallet or password can get you in trouble.

But if you pay when you cash out its all good. Then you just go after people who are not cashing out at all.

And done and done.

[Anonymous No.6077940]

>>6077309
It behaves as an investment property. It's still too unstable and not widely accepted to be currency.

>>6077284
>>6077550
Barter is taxed. I know you don't like it, but it's true. You don't have to take my word for it. Research for yourself.

[Anonymous No.6077949]

>>6077870
well fuck that. Im just not going to pay that. Ill keep my privacy shitcoins

[Anonymous No.6077965]

>>6067605
This is why you launder by opening a facet.

[Anonymous No.6077987]

>>6077940
>Barter is taxed. I know you don't like it, but it's true.
This is what people don't understand in this thread

[Anonymous No.6077997]

>>6077940
oh shit forgot about barter taxes
oh well.

[Anonymous No.6078022]

>>6077359
You don't have to pay if they can't trace it to you. If you get caught they will federally fuck you though. They want examples for crypto, look what happened to Ross.

>>6077309
It is absolutely retarded, but I think they don't understand it and want their cut. If you hold long term and are at NEET income at least you can abuse the 0% lt bracket. You can also write off ALL your losses capped at 3k a year against your income for the rest of your life until they exhaust. I abuse all of that.

[Anonymous No.6078034]

>>6077840
they'll make it all back come tax time though, plus some more

[Anonymous No.6078092]

>>6078022
>Ross.
Who's Ross and what happened to him?

[Anonymous No.6078103]

>>6077896
fuck might be better to just withdraw cash from atms for 4% fee instead daily

[Anonymous No.6078120]

>>6077949
your a larper.

you are gonna pay it.

[Anonymous No.6078169]

Makes me laugh when i hear americans talk about tax... you people actually still think you are free...

[Anonymous No.6078181]

>>6077940
>Barter is taxed. I know you don't like it, but it's true. You don't have to take my word for it. Research for yourself.

Sure, then its time to start taxing video game items and currency too. We might need to begin sending the IRS after kids who got shiney new CS:GO skins. Upvotes on Steemit. Upvotes on reddit too. Upvotes on Facebook those should be taxed.

Yep totally. Those magic the gathering cards might need to be cracked down on guys.

Bartering is totally something they will take seriously.

[Anonymous No.6078192]

>>6078022
I think that cashing out will be a royal pain in the ass but I can hold tax free until it is used for actual currency. Other than that, I think that the most the government can do is to just stifle new people coming into crypto with bullshit laws like what you mentioned

[Anonymous No.6078220]

yessir

[Anonymous No.6078225]

>>6078181
If you sell enough skins on the steam market you are actually supposed to report taxes on it. There are people who sell a fuck load of trading cards and need to. So yes you are correct

[Anonymous No.6078239]

>>6078120
salty that you didnt mine and buy all the monero you could get your filthy hands on eh? :^)

[Anonymous No.6078255]

>>6078034
I mean seigniorage in the sense of their power over the money. Having visibility to everything means you may not have visibility to anything, especially with currency. GIGO.

[Anonymous No.6078288]

>>6077920
You are just in denial.
>Bottom line is though, every trade is a taxable event.
Yes.
>But you pay the taxes when you cash out. People are arguing left and right but not realizing we are saying the same shit.
Wrong. If you bartered gold for silver, you will owe tax on capital gains. If you don't have cash on you, it's up to you to sell your silver that you just traded for or come up with the tax cash some other way.
>Yes every trade is taxable. But its not realized gains until its in your bank account.
The fact that you used a property that appreciated in value to acquire another property that you couldn't before means that you realized a gain.
>People who have no money will be hit super hard with all kinds of bullshit penalties
I don't understand your thought process here.
They can sell their cryptocurrency to pay taxes.
>they had coins they didnt know about.
How would they have triggered a taxable event with coins they didn't know about?
>You will have shit where losing a wallet or password can get you in trouble.
It's just like losing your physical wallet full of your cash reserves. Be careful.

[Anonymous No.6078344]

>>6078092
Dread Pirate Roberts, Ross Ulbricht. He is the guy that created SR and got fucking life for it. It was a public execution and now the IRS is going for crypto whales. Expect them to all get the book if unfortunate enough to get caught. The government either doesn't understand or hates crypto and is being merciless to nonviolents that fuck up with it.

[Anonymous No.6078345]

>>6078225
>If you sell enough skins on the steam market you are actually supposed to report taxes on it.

Yeah when I cash out. You can bet your ass if I sell over 10k magic the gathering cards I would report that. But fuck no I am not reporting every trade for one card to another wtf.

Same with crypto

[Anonymous No.6078358]

>>6078288
>>6078288
I dont know if you use discord but you seem good anon, add me on discord

Hurras#4576

[Anonymous No.6078382]

yeah yeah, that's nothing; i guess it could add up with carried forward losses

[Anonymous No.6078383]

>>6078358
hello cia nigers

[Anonymous No.6078417]

>>6078239
if i knew about free shitcoins that cameout and able to mine with one shitty graphics card, id do it.
but fuck buying all those cards and electricity price going sky high only to maybe profit 300 dollars a year.

[Anonymous No.6078438]

>>6078169
>you people actually still think you are free...
What requirements are there to own a gun where you live?

[Anonymous No.6078445]

>>6078344

to be fair though, he got life becuase he ran the largest internet drug market, making him party to every transaction on the site.