I HAVE TO PAY TAXES ON MY BITCOIN GAINS!?!?!?

hairygrape
hairygrape

REEEEEEEEEEEEEEEEEEEEE
WHAT THE FUCK

https://en.bitcoin.it/wiki/Tax_compliance

All urls found in this thread:
https://en.bitcoin.it/wiki/Tax_compliance
http://www.forbes.com/sites/laurengensler/2015/02/11/puerto-rico-new-age-tax-haven/#6aa3ec654d26
Sharpcharm
Sharpcharm

@hairygrape
it's only capital gains when you cash out, or if you have a wallet linked to your bank account (i.e. the feds)

Emberburn
Emberburn

Move to Puerto Rico.

http://www.forbes.com/sites/laurengensler/2015/02/11/puerto-rico-new-age-tax-haven/#6aa3ec654d26

Evilember
Evilember

@hairygrape
not knowing you had to pay for money you make
the fuck? Why do you think the IRS was made?

LuckyDusty
LuckyDusty

@hairygrape
I had the same reaction.

I wonder if my wife would get half BTC in a divorce. I could just move them to an anonymous wallet, but she knows I have them.

Inmate
Inmate

@Sharpcharm
This. Who wants to solidify assets in Bitcoin now anyway? The market cap is only going up from here.

@LuckyDusty
If you think she might divorce you, tell her that you're thinking of cashing out. Don't, but then also go on a shopping spree to throw her off that you haven't done anything. Create a new wallet through Tor and tumble your bitcoins there. Then you can escrow them back to any clearnet wallets you want.

Techpill
Techpill

@Inmate
Thanks user. No reason to think we'll divorce other than she's a woman, but now I know how to prepare just in case she pms's real bad.

Dreamworx
Dreamworx

if you're mining bitcoins does that make the power bill used to mine them tax deductible?

Nude_Bikergirl
Nude_Bikergirl

@LuckyDusty
not signing a prenup
YOU FUCKED UP BIG TIME

farquit
farquit

@Nude_Bikergirl
I think you mean
ever getting married at all

I know we all like to take risks here but the reward is virtually none existent

w8t4u
w8t4u

@hairygrape
tfw there is no capital gains tax in my county

likme
likme

@LuckyDusty
tell your wife your actually a black lesbian, she cant deny your one or shes oppressing you.

Illusionz
Illusionz

Don't wanna pay taxes?

B-b-but senpai

cum2soon
cum2soon

So lets say i wanted to cash 10k worth of bitcoins i made illegally. How would i go about doing that?

lostmypassword
lostmypassword

@cum2soon
kraken

Carnalpleasure
Carnalpleasure

@lostmypassword
Ok but just putting 10k in my bank account out of no where is gonna look sketchy

Firespawn
Firespawn

@Evilember
to spoil a good time.

hairygrape
hairygrape

Do your god damn duty and get fucked in the ass OP

Emberburn
Emberburn

@Carnalpleasure
Arent you allowed 15k in undeclared "gifts"

WebTool
WebTool

@cum2soon

How would the gov know they were made illegally?
(What does that even mean?)

AwesomeTucker
AwesomeTucker

@cum2soon
bitcoins i made illegally
illegally
story time?

Fuzzy_Logic
Fuzzy_Logic

@cum2soon
sell them for cash face to face

Poker_Star
Poker_Star

@hairygrape
Idiot. Bet you're one of those occupy faggots that bitch investors don't pay their fair share.

Emberburn
Emberburn

@cum2soon
sell them to people who sell them for a 5% decrease in price.

SniperGod
SniperGod

U.S. citizens have to pay taxes on all capital gains
profiting off of bitcoin obviously qualifies as capital gains

if you're this retarded you have no business investing

Bidwell
Bidwell

@SniperGod
what people haven't figured out yet is that because the IRS didn't classify them as a stock/security, wash sale rules don't apply and you can generate tax beneficial transactions to your heart's content as long as you can prove they had economic substance

likme
likme

@Bidwell

What does this mean? Can you clarify please

CouchChiller
CouchChiller

shocked by taxes

Average Bernie Millennial retard who thinks we're not taxed enough until they themselves are forced to pay.

Hate to say it but I went through this denial too. They don't teach kids anymore what to do when they attain a sudden increase in wealth. They taught us to be good goys and that making profit is evil.

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