So I've made a pretty penny (to me) since I started this crypto adventure back in the beginning of Q2 2017.
Now I'm curious as to what will happen if I sell off some coins, transfer the BTC to cuckbase, and cash out to my bank account.
Will I get fucked with taxes come April 2018?
I would be taking out >$5000
Please only reply if you have actually withdrew USD from cuckbase. Thank you.
You won't get fucked if you report it the way that you are supposed to.
Do you have another income? It matters because I'm assuming that you've held none of the coins for longer than a year.
Also, the amount actually matters too, but yes, you'll have to pay taxes
yes OP you will get fucked with taxes.
I have probably cashed out and re bought about 20 times this year under 10k they could care less
I do not know your tax bracket so if you are a poor fuck with a shitty job maybe nothing..If not $750.00 in taxes..
Still strugling with the verify bank account part, fucking shitty delay imo
I'm waiting since 2 fucking weeks instead of 1-2 days like claimed on the cuckbase website
I make $60,000 a year and have made a little over $12,000 in gains so far since starting. Definitely under a year.
What if I don't have a job and I cash out $4,000 (under a year held)
What exactly be are you doing to make money with cuckcoin
Lmao you really need to not do that. They will come after you eventually
Buying low, selling high.
Whatever Veeky Forums says to do I do the opposite and make money. EZ.
Buy what low though.
I know it's not BTC since it didn't go up that much since Q2
what is this tax thing? are you guys talking about the coinbase fee?
Made about $1000 off of DGB.
Bought in @750 sats, sold at 1800sats.
Made about $5000 off of ARK
Bought in @20k sats, sold at 50k sats.
Made about $3000 off of OMG
Bought in @150k sats, sold at 240k sats, bought back in this weekend.
And I also had success buying and holding coins that often get pumped and putting in sell orders. Like Verge, Rise, XZC, SAFEX, (bought back into SAFEX last night, holding until 1k sats).
Capital gainz tax, not fees.
Federal taxes.
But I think he's withdrawing about $5k and going to mistakenly call all of it profit.
Yeah right
When you do your yearly tax report, you're supposed to report the gains on every transaction. Or really any monetary income that goes beyond your work. Some countries like New Zeeland don't take, but otherwise the gov wants about 15 to 45% of your crypto gains.
Gains total, not individually
I cashed out early 2017 through coinbase.
Had cash in bank in couple days.
Didnt file for 2017 taxes yet, but i had it for few years, so depending on your wagecuck salary if you dpnt make much, they wont take much for long term cap gains for over a yr, if its short term cap gain under a year, expect to oay 30% to tax man
In usa you dont not have to file every crypto trans, just enter and exit