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7159668 No.7159668 [Reply] [Original]

Hi folks (burgers), can you comment on this?

https://www.forbes.com/sites/robertwood/2017/12/28/loophole-allows-tax-free-bitcoin-exchanges-into-2018/#5208417312fa

What the author is implying is that because the regulations that restricted 1031 to real estate were passed at the end of 2017, all trades done prior to that could potentially still fall under 1031 because the rule was not specified up until then.

>> No.7159779

Bump. I would like to know this before calculating taxes based on my 2017 transactions on gdax, cryptopia, coinexchange.io, etherdelta, etheremon, fuck.

>> No.7159841

kike website wont show me the article

>> No.7159886

Pay your taxes goy

>> No.7159894
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7159894

>>7159841

>> No.7159954

If you actually pay your taxes on crypto you’re doing it wrong.

As soon as one poor burger is jailed and hits mainstream news. All he needs to do is reveal his public key of ETH/BTC and we’ll gladly crowd fund him for the lulz.

>> No.7159983

>>7159954
Hi, that is not constructive, I doubt you have any serious holdings with an attitude like that

>> No.7160003

>>7159954
this, you are a serious c uck if you pay kike paper for your crypto

>> No.7160137

>>7159983
Gtfo tax shill

>> No.7160180

>>7159983
You’re a huge fucking pussy for paying your taxes. If anything just pay the capital gains tax when you cash out. Stop over analyzing the bullshit like for like

>> No.7160391

>>7160180
Don't you also have to pay taxes on trades even you cash out after a year?

>> No.7160422

Bump

>>7160180
Thank you for your opinion, I probably won't have to pay much because most of my gains were in BTC which I didn't sell for anything in 2017, and I would rather stay on the safe side in case I'm audited some time in the future.

>> No.7161325

>>7159668

enjoy getting audited
that rule is a like a mandatory audit

>> No.7161371

Anon, allow me to try to be helpful unlike the other autists in this thread. I intend to declare under 1031. My rationale - why not? Due to the ambiguity there is a good chance we will actually not have to pay taxes. Worst case, they order us to pay up. Not like there is any other option. Eventually you will want to cash your coins out to dollars and the only way to not get fucked in the ass at that point is to establish a cost basis. Pay now or pay more later.

>> No.7161957

>>7161371
Hi, thanks for the response. I'm assuming when you declare under 1031 you state you made the like-kind transactions but don't actually pay capital gains on them (unless of course you cashed out to fiat). Do you know what form to use for this? Should I just talk to a CPA?

>> No.7162390

>>7161957
Talk to a CPA, im 80 percent sure like-trades will mark an audit by the IRS

>> No.7162809
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7162809

>amerifags spend more time doing their taxes than trading

>> No.7162856

>>7161957
That is right, I am planning to declare but not pay. This to me seems like the best overall R/R. Best case I establish a cost basis but don't owe anything. Worst case I am paying up front on something that would have to inevitably get paid anyone upon cashing out. I would recommend talking to a CPA regardless and I plan to do so as well, once they have had enough time to figure their shit out.

>> No.7163064

>>7160422

What if BTC collapses below $1000 or even lower? Will you have enough dollars to pay your taxes if you haven't cashed out? It seems unwise to trade any cryptocurrency unless you immediately convert to dollars to cover the taxes on any capital gains.