Neoholders crying club

Are you americucks this afraid?
Converting between cryptos isn't taxable.

Don't just turn it back into USD

What happens if China maintains the ban?

China never represented much of the market. I think it was around 20%? Anyways China isnt going to keep it banned forever. It cant.

forbes.com/sites/greatspeculations/2017/08/15/cryptocurrency-traders-risk-irs-trouble-with-like-kind-exchanges/#2ec904ca26a8

Sheesh, so much for land of the free.

Can't you avoid it with VPNs and shit?
I don't think you need to give adresses to use exchanges like Bittrex.

Blockchain is a growing industry, do you think the chinks are going to miss out on it?

What's going to happen to us? All my money is in crypto and I'm a broke student.

No Bittrex needs your address if you want to withdraw more than kiddy money so many of us already pretty much fucked and need to pay up next season

We'll probably have to pay like 10 or 15 percent tax on our gains, I'm really not sure 2bh. The good part is small trades might not matter and I havent kept track of all of those

forbes.com/sites/robertwood/2017/09/08/bitcoin-virtual-currency-deals-under-600-could-become-tax-exempt/#340f7f263bc6

What if we don't pay? I don't even have the money to, I don't even know how it works I've never had a job

100$ by december

Hahahahaha I had some fucking retard NEO bagholder telling me it's going to moon this week when I told him to drop his bags.

Then you risk the IRS coming after your ass, I advice you get a job in between now and April

What can they do to me?

Sell you into slavery

No, and I'm glad this communist coin is tanking and taking idiots Bitcoin with it

stay fucking retarded

Are they really going to? Are you actually reporting all your transactions and giving these people your money?

Just play dumb.

>i-if I insult him it makes it untrue...
Excuse gonna send a quick tip to the IRS

Yes and I will during tax season unless the tax code changes

Thx for ruining a NEO thread with your gay ass tax shit

Neo is shit. Only credible competitor in asia for Ethereum atm is QTUM. Neo is propped up by western speculators, that's the only reason it has a higher marketcap than QTUM, which has a lot of business backing in asia.

Quiet, qtum cuck

Exactly!

What's a good entry point gonna set a buy order. Used to own ants but sold

>investing in a coin created by a self proclaimed scam artist
Good luck with that

>tfw made fiat profit but lost btc-wise
Fuck all alts, they don't fucking matter anymore and people are realizing that
Bitcoin is fucking king and I'm selling every signle alt I have as soon as I break even or close to it

Now is a good entry point. It's pretty low. Don't forget to hodl.

$150 after the fork. Screenscap this. Remember what happened after the bitcoin cash fork?

ETP?

>being this scared so he misses out on a potential gain
holy shit, if the government/IRS/whatever tells you to keep track of every step you take while walking will you just sit in one place forever?
seriously how the fuck would they even check all the trades some people make? especially day traders making 100s of transactions per day
can you imagine those latino women's faces at IRS when you drop a fucking 5inch thick book of transactions?

Take the risk if you want, audit rates are pretty low. But don’t be surprised if 5 years from now you get a knock at the door and someone says “Sir I’m from the IRS, we need to talk.”

ok mr taxman

>Lets say I buy $200 worth of btc
>Then I buy LINK with those $200 worth of btc
>Lin goes down losing me 20% of btc and I decide to sell it
>in the meantime btc went up so much that I'm still up and now my btc is worth $250
how the fuck do you even tax that trade of LINK?

>Bitcoin is fucking king and I'm selling every signle alt I have as soon as I break even or close to it

Between realization and action is the rest of your stack

You fucking morons will never learn

Neo will moon after the fork. They will announce 5 or so new ICOs. Also, the Chinese state will take the boot off of Neo's neck. Then it's off to the races. $200 by March. Cap this.

You track gains and loses at each sale. So for your example you would report the 20% loss and wouldn’t recognize gain until you sold the BTC. But you only report it when you file in April.

You could also try to do these as 1031 exchanges, in which case you don’t have to report gain or loss until you convert to fiat. Of course you still have to file the paperwork and do the reporting.

Either way failure to do so results in a penalty in addition to the amount owed.

How old are you

what if someone sends you some btc?
how do you tax that? how do you prove you didn't get paid for drug dealing?
what if you make a trade gaining more btc/eth but losing fiat-wise at the same time
dude there is like million different cases people are gonna ask about, the fucks at IRS or any other country's tax organization have no fucking clue how to approach it, and it's gonna take a lot of resources to process that. There is many people who are probaby willing to pay, but it has to be simplicified.
Why not just do a simple equasion of (Outcome-investment)x0,2 or whatever the tax is and then maybe give the fucks excel sheets from all the exchanges.

The only thing in the whole crypto-tax debacle that is even remotely clear is that unless they make a special exception for crypto, they will not recognize these as 1031 like kind exchanges. The fact that there is usually a middleman (the exchanges) involved basically rules that out completely.

Having said that, tracking tax on every transaction is bullshit. I'm not sure what I'm going to do in April. I will report something but it's going to be a lowball estimate since I'm not a major crypto holder and it is unlikely that I will ever be investigated before the IRS offers official guidance on this.

>what if someone sends you some btc?
how do you tax that? how do you prove you didn't get paid for drug dealing?
Income is income from whatever source derived (the IRC uses this circular definition) so you report it as a gift (I’m assuming this BTC was sent without quid pro quo), note there’s lots of exceptions for gifts that won’t be taxed. You don’t have to prove it’s not drug money, the burden of proof would be on the government.

>what if you make a trade gaining more btc/eth but losing fiat-wise at the same time
Everytime you do transaction you account for gain and lost from basis. Afterwards whatever the worth asset becomes the new basis. The original basis is the price you initially paid for the asset.

>dude there is like million different cases people are gonna ask about, the fucks at IRS or any other country's tax organization have no fucking clue how to approach it, and it's gonna take a lot of resources to process that. There is many people who are probaby willing to pay, but it has to be simplicified.
I understand that’s how you feel, but don’t expect the IRS not to catch on eventually.

>Why not just do a simple equasion of (Outcome-investment)x0,2 or whatever the tax is and then maybe give the fucks excel sheets from all the exchanges.
Petition your legislative representatives if you want changes in the law.

this chinky shit coin will only bleed slowly

avoid it like the plague. it has been up 10,000% ... TEN FUCKING THOUSAND
>THOUSAND
PERCENT

and u guys still think its going up? LOL no way

bubble popped

stay away or ur wallet will bleed too

Good tech tends to go up, yes. Stick to your shitty PnD eth tokens.

The entire crypto market is absolutely exploding. I don't think that's reason enough to stay away from NEO. It's one of about 20 cryptos that are good long term holds.

what are the rest 19 ?
Im personaly holding ARK , Ripple , OMG , TenX and NEO

You won't get any one person to agree on what the best long term bets are. I'm in on the idea of blockchain as a service type stuff, though. Basically, ETH and its competitors. NEO, ARK, NEBL (made a killing off this one already). I'm also in on payment gateway type cryptos like REQ and the upcoming UTRUST token (but we'll see what that does once it hits exchanges, not touching ICOs ever). Had some OMG but flipped it for a small profit once I hit my stop "loss."

Until something trumps XMR for DNM use, it will always have value too, so I hold that. Not sure how I feel about the rest of the privacy coins but I have a small stake in a few competitors. And as always, BTC.

Those are the main ones I hold right now but I can see how there are a bunch of others that are decent holds.

Not only is NEO guaranteed to at least retrace back it's pre-fork price, but it also has "China news" and several ICO's on it's platform coming up in the near future so it should honestly be the next moon mission once the fork drama is done.

And you can already see that it reacts less and less to BTC rises/dips compared to a couple days ago, I think we've reached the end of people panic selling for BTC.

Yup I've noticed this too. The panicky hands are gone