>convert $500k worth of NEO to BTC right now
>lose private key
>owe $150k in tax
>literally cant pay it
>go to jail for 5 years for losing a private key
these laws are fucking stupid
Crypto and Taxes
Xavier Wright
Grayson Clark
As the other guy said, if you are poor then Investments held longer than a year don't get taxed
So whatever you invest in better be long-term if you don't want to pay taxes. But ignore you lose money then you don't get taxed
So if you want to pump n dump you gotta pay the big man
Carson Nelson
That's only for longterm
William Wood
Yea but selling his btc for NEO is a taxable event so he owes on that.
Bentley Sanchez
this
Blake Young
Hey George
Jeremiah Morales
I am from a third world country. Will uncle sam tax my shekels as well??
Wyatt Brooks
If his only income is the 20k then hes in the 20% bracket.
Jack Powell
long-term is 0% under $37k
Kayden King
What if I just take out small amounts every time I need it? Not at all once?