So as an American I must hold my crypto for 1 year before cashing out, but does that mean I can't sell to buy back in after a crash/dip?
Am I good as long as my money is in an exchange even if it's USD? How do I avoid losing %50 of my gains to the government?
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Selling and buying back would force you to pay short term capital gains tax.
Fuck really? It's like I've gained absolutely nothing.
>Market crashing
>Can't sell because American
IT'S NOT FAIR
Wtf are you talking about user? BTC and ICOs arent applicable to "Wash Out".
Consult with a lawyer why the hell are you asking an image board with 15 year old unintelligent neets? Probably because you're one too. This place is filled with anime posting fucking morons
so much evil in this world...
Only of you have more than 10k otherwise they don't care
unless you are moving 10k or greater at once they wont give a fuck
they dont care about you 500
>can literally buy a gun at the drop of a hat.
>Extremly difficult to cash out on crypto investment.
Kek.
what the fuck are you even doing on this site
tether is not fiat.
You realized your gain in the short term. And then decided to reinvest again. You basically completed 1 trade and opened up another. Trading it to USDT doesn't legally make a difference either.
you sell to different coins or tether you fucking retards
I see. Well it's too late for me but it was under 10k so maybe I'm okay. Either way I will survive
Thanks for the response
>15 year old neets
that's p badass tho
Source? I can't find anything that confirms/denies this
This is a Mongolian Fishmoger's Board
You only have to pay tax when you realize gains, i.e. when you move money back to your account, I'm fairly sure.
Thanks god i am not american.
The gov can suck my dick.
Just say your good friend on the internet told you it'll be coo
Where are the "Sopa de macaco" jokes now?
HUEHEUEHUEHEUEHUE
CPA here. Google "wash sale" user
this. reinvesting dividends isnt subject to capital gains... what the fuck are you people on about ?
Americans also trade Bitcoins or leveraged Bitcoin contracts on Bitcoin exchanges, and they should report realized capital gains and losses on each trade, even if the trader doesn’t convert underlying Bitcoin back into U.S. dollars.
Selling is nothing like earning dividends.
>cuck
i highly doubt they are tracking and logging every crypto trade you make.
What if im trading on Binance , i didnt give them any of my personal information.
don't click that link unless you want to get eye cancer from the ads.
here are the two pages it consists of, archived to remove all ads and cancerous scripts:
your fucking dumb if you put your bank account and tied yourself to fiat.
