Hello Veeky Forums, don't forget your taxes :)
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SAGE
>period of 2013 to 2015
What's the point then?
F
>$20000
wew, thank god im poor and dont have to worry
>being a amerifat
no thank
Do you have any other sources besides twitter? I hate to be that guy, but I don't believe anything they say.
Not sure why this is a big deal. You obviously pay your taxes on crypto, just like you would for any other job. You are fucking retarded if you don't think transactions on open ledgers aren't tracked.
It isn't. Just more salty anti-coiner bitfinexed FUD.
Haha joke's on you IRS. I've lost money.
FUUUUUUUCKKKKKKKKKK
But did you pay taxes on the losses goy?
Claim the loss, gov pays you
This
Fuck yeah i thought i had to keep sells and buys under 10k didn't realise i have more room max comfy
>"crypto will make you rich"
>the entirety of Veeky Forums is too poor to have even chump change like 20k
Really makes me think
doesn't matter. Crypto to crypto is a taxable event. You still need to pay tax on every trade you do. Enjoy prison, brainlet.
>tfw cryptos aren't covered by taxes in my country
Feels nice :)
this is going to be used to jail coiners until they turn over their keys
they made the tax code so complex any trade can be taxable and KYC AML is so complex you committed several felonies
I'd like to see some proof of this. I'll wait.
>crypto to crypto is a taxable event
this is like saying you have to pay tax if you trade an apple for an orange with your friend
you nocoiners are autistic twats
They are just going to send you a bill brainlet. They don't bother sending people to jail unless they refuse to pay after the bill is sent.
Apples and oranges aren't considered property. IRS treats crypto like property
bitcoin.tax
see for yourself. It depends where you live, but I was talking about the great free land of burgers
For the record you absolutely do. That is a taxable event and you owe some cents.
Every child who trades his Apple Juice for M&Ms is failing to report the trade.
>2013 to 2015
>Must have at least bought, sold, sent, or received the equivalent of $20,000 during one year.
Most of biz is safe for now.
you technically need to be recording bartering trades when you file your taxes.
of course, no one's gonna care unless that apple you bartered was worth 100k market price.
this is how fucking pervasive the government is.
Can't wait to serve prison time after not paying on my ngr coin
the US government provided this great land of the free for you to barter, you better not evade taxes
I doubt they look at this shit though, spending money for that seems ridiculous
Just say you invested 10000$ and made 20000$, so you capital gains tax on the 10000$ profit (30% or whatever the fuck that is).
Although tax on crypto gains should be 0%, since the state offers no securities or regulation whatsoever.
General
Capital Gains Taxes
Most countries consider Bitcoin and crypto-currencies as capital assets, and so any gains made are taxed like capital gains. So if you make profits from selling your coins, those profits are taxed. If you make losses, you may be able to deduct the losses and reduce your taxes.
Did you even read the link you gave? Still waiting for any shred of proof that you're not full of shit.
Ngl poor college kid here, 20k would pay for two years at my school just about
That is sweet, along with the fact I could save more in an IRgAy and become richer in the future
it doesn't matter, each trade is still taxable
BTC to alt (pay tax)
alt loses value
sell alt to btc (pay tax)
btc to cash
Even if your overall fiat loss is say 5%, your tax on each of the trades outweigh your net loss so even though you're down, you still own tax.
#rekt
it sets precedence, they will come adter moon recent years soon enough
Maybe you think the more times you repeat something, the truer it becomes.
You pay tax if you have gains, you don't pay tax if you don't have gains. In fact if you have losses you can possibly even write those off. It's pretty simple.
WHY is it only up to 2015?
>lose money pay tax
There is a such thing as capital losses, mate
>once traded my tuna sandwich for a granola bar back in elementary school
>the sandwich was valued secretly at $100,000
>mfw I didn’t tell him and he now owes back taxes
Nothing personnel, Jimmy.
yeah i know that and you deduct losses but the tax on a trade basis can outweigh the losses declared.
Crypto to crypto is technically a barter, meaning its basically like buying something in the store. You owe a tax based on that sale for each barter completed.
>"sales tax" on each crypto trade
yeah nah. I don't think you really know what you're talking about. If you make profit on a trade, you pay tax, otherwise not. It reall just all adds up to your total fiat profit or loss, either way. Sure paying taxes sucks, but there isn't anything all that scary about it.
>Crypto to crypto is a taxable event.
Not so sure about that