SELL NOW THE FEDS ARE COMING

8f they bought in 2015 it means they wuoould now be worth over 500k now? So thqts why they asked for over 20k and thqt dates...

Thanks to crypto, for at least this moment in history you can be both more rich and more retarded than ever before

What if you made several orders that total $20k but each are smaller than 20k?

here's how to avoid big taxes without moving
use your BTC to buy Gold on JMBullion in 5oz at a time (Around $6,500) rent a new PO Box every week to receive gold - and then sell gold over Craigslist at spot (You'll sell quickly this way)
You are welcome.
Also LocalBTC if that have that in your area - only do Cash

this

Oh shit do they mean 20k in market value at the time or market value now?

Wait people thought the IRS would just let them trade 6 figures and get away with it? lmao

Wait, what if you bought BTC with ETH?

am i safe i'm from india it says only us citizens

I'm predicting that they'll work really hard to make a database of everyone who made it big in crypto, then try to turn normies against them
>"look at these smug nerds who became millionaires though this SCAM while you were struggling to feed your wife's son and pay off your student loans. We much sieze and regulate all cryptocurrency!"

why doesn't he show the whole fucking document? what a goon.

tfw Paralegal

prep your anus

Could care less, I only made a few purchases for like $100 and I already amended all my tax returns to report my crypto. I have nothing to worry about.

>using normiebase

You missed the whole point of crypto. Should've used a decentralized marketplace or given fake information to coinbase. You lose.

Sell significant amounts of gold over craigslist? Ummm... Skeptical face.

He's a brainlet. Just use localbitcoins. You can literally move 100k/week if you live in a city.

Holy shit real life pajeet detected! Go back to your designated shit street pajeet

>Veeky Forums owning 250BTC
>ever

Feels bad.

Any suggestions for a good exchange to buy bitcoins?

Newbie here

youtube.com/watch?v=Hh3bSzDQ1Po&t=60s

This is good news. They drew a line on at what point the feel it should be looked at.

Gotta pay your local taxes, you miserly toads.

This. What a timeline to live in.

Does it have to be an in person cash exchange?

>giving my money to the government so they can pay for Obongo, the Syrian refugee from Nigeria and his 7 kids

Yeah. No. Fuck that.

so only commit to $19,999 trades now

Just do loads of them

localbitcoins.com

it's like craigslist, but for bitcoin

you can purchase bitcoin for cold hard cash face to face without even revealing your first name

i have a toilet you know..

Yes. Be prepared to meet human garbage and know that the future of Bitcoin is them

fake news

bitfinex, bittrex are both very reputable
also the best to go ALL IN is just now
buy the dip you won't be sorry
nothing can go wrong

...

>Transfer all BTCt to paper wallet
>Lie and tell the feds your dog ate it.
>If they give you a hard time, just declare bankruptcy.
What did he mean by this?

No, you could move far more than 100k/week if you did bank wires but banks will report that.

Face to face cash is the best as it's completely anonymous and there's no paper trail.

Oh y-yeah guys looks like I have to turn my records over haha...

>thinking this is the REAL dip

found this on cnet
here's the link: cnet.com/news/coinbase-ordered-to-turn-over-customers-records-to-irs-bitcoin-court-tax-probe/

Why only up till 2015?

I made some trades over 25k on coinbase this year and now I'm shitting bricks...

funny thing is, my portfolio is worth less than 20k right now

Delete this now

>we gotta tax your crypto so we can afford genital mutilation and/or hormone therapy for our trannies in uniform goy

uh nah

Well I'm fucked.

Let me sum up coinbase for you

>BIG PRICE RISE? BIG PRICE DROP?
>BOOM BUYS/SELLS BROKEN
>BOOM WEBSITE CRASH!

>CONSUMER EMAIL SUPPORT THIS IS COINBASE LET ME RESPOND WITH A PREWRITTEN EMAIL CONTAINING NOTHING RELATED TO WHAT YOU ASKED CAUSE I NEVER READ IT IN THE FIRST PLACE

>HI YES THIS IS COINBASE PHONE SUPPORT PLEASE LET ME WALK YOU INTO CIRCLES UNTIL I TELL YOU TO EMAIL US SO I CAN IGNORE YOU

>SORRY WE CAN'T CANCEL BANK BUYS ANYMORE WE FIGURED WE WOULD MAKE MORE MONEY

>THE PRICE OF BITCOIN IS $9,300 AT BITSTAMP? THAT MUST MEAN WE NEED TO SET OUR PRICE AT $9,950

>YEAH LET ME GET A SPECIALIST TO HIT YOU BACK UP IN A FEW MONTHS, THANKS

>LOOK THIS IS WHAT HAPPENS WHEN A SMALL COMPANY WHICH WE OBVIOUSLY ARE CAUSE WE ARE OWNED BY A BANK GETS 400,000 CONSUMERS IN A MONTH, OK

>YES WE WILL GET BACK TO YOU IN 3 MONTHS

Thanks for the suggestions, although i hope i'm not being trolled or anything

It feels like 70% of the posts on this board are people trying to scam you into something

I only made 400$ off of crypto anyway (poorfag)

Imma still pay the tax man tho

Can't wait to see the IRS threatening to toss 14yo kids in jail for trading shitcoins, the media will have a field day, maybe this will get Trump to finally crush this corrupt organization once and for all.

does anyone know a good anonymous exchange or just wallet? I used GDAX, for zero fees because I'm an eurofag, and bittrex and binance as wallets.

>Buy monero
>"lose" monero wallet password and seed
>Declare funds as lost

they're going after money laundering and people hiding cash from the IRS. they don't give a shit that you made $400 profit trading shitcoins this year.

>sieze
LOL. Good luck with that.

everyone is hoping that, but a 8 old year couldn't have this big of a dreams.

Can I file transaction fees/buying as losses on my taxes?

why did they leave out 2016? OwO

probably because coinbase then implemented that you had to show photo of ID

so I'm fucked? Sold 80 eth for 25k on coinbase earlier this year. I lost most of that money on other coins though.

they'll monitor your bank account and see any deposits you recieve

once they see the money return, they'll get you

unless you want to have your money stuck in a dumb coin that can be ip tracked, and isn't used for anything but to purchase meme drugs on some darkweb site

>SET OUR PRICE
>literally doesn't even know what an exchange is
those 3 words invalidates any opinion you have ever had about anything Veeky Forums-related

I deposited 4k USD into coinbase early this year. Sold some of my stack on coinbase and withdrew 16k over the course of the last few months.

That's 12k. And I only made 4k working my regular job this year. How fucked am I?

This is big, newfags and oldfags alike were not expecting this at all.

Kinda happy I sold at 9800

>literally doesn't even know coinbase inflates above the average so they make more money

12k?

be happy if you can keep just 50% of that user

This, it's why criminals make their money look like it was earned legitimately, they can't just continuously deposit thousands of dollars into their bank account with no explanation of it's origin without triggering some kind of IRS investigation, at least not if they have to deposit a lot of profits.

That's not how any of this works retard

>mfw I pay my taxes like a good goy

>defends coinbase
>claims to know about Veeky Forums

are you being unironic? My take for the year was 16k and I spent 4k on tuition.

I sell all my coins for cash on sites like local bitcoins, local monero etc. Generally you might have to give up on a few percent for working with a reputable buyer with cash (maybe 2-6 percent depending on your volume), but that amount is much smaller than any taxes you're going to have to pay. Anyone stupid enough to keep crypto on the books if you don't intend on paying taxes deserves to. Exchanges and bank transfers are not the only options and never have been.

>$45,000 buy order placed 00:12, 01 2016

get fucked IRS

>defends coinbase
LMAOing @ ur reading comprehension
>replying twice to the same post
LMAOing @ ur lyf

>he fell for the cash out meme

but then you're stuck with physical cash right?

like you even had 20k
lol never in your life

why are they doing this? tax evaders sting?

*boo-beep* SINKRATE *whoop whoop* PULL UP

>so fucking poor it's viable to sell for cash
>still gives people advice
lol

The chinks are about to dump too. LMFAO!

Hang on optimistic normies.

Then your losses will count against the earnings. It's your net gain that will be taxed.

Am I the only one who doesn't mind paying taxes? I use roads and other stuff built by the government after all.

Uhh you don't think they'll do the same thing again?

Curious how many of these stupid kids here are pro-Bernie/socialism but don't want to pay taxes...

5%er checking in. bulk buys @$200 keeps me off yay!!

Sorry user, you're a rare breed. Most humans are selfish degenerate animals that will only do something if it directly benefits themselves. Inb4 berniebro/communist. There's a middle ground between ancap and communism.

Pro Bernie
Don’t mind paying the taxes

Maybe Bc the job pays well...

I would be if it didn't go to niggers' welfare and aid money to africa

Look you autists. When you do your gains, you calculate the taxes in and keep records of your expenses. Form an LLC and then get a tax person. You still end up with more money than you did before.

Hell... If it really bothers you, start a church like scientology and just say you are doing the lords work and be tax free.

Ooh and if it really fucking bothers you.

You should have just used your investment money to buy miners and had them send all the BTC to paper wallets.

Better yet... Monero paper wallets.

Welfare shouldve been abolished. It has done nothing but caused social cancer to any community.

Welfare should only apply if you lost your leg and arms, cant breath normally or other shit like that. I don't a give a fuck if Tyrone has "ADHD", the fuck is that and he gets paid from the government? Get that gay shit out of here. People who are mentally disabled should stay at the mental house. Not heading to kmart and complain about already price dropped sales to fit into their budget they dont deserve

United States is broken

>roads
How much of an idiot do you have to be to use and like roads? They're like the main symbol of centralized power. No roads should exist in a truly libertarian society, which is the objective for crypto.

>currencies that can be converted into traditional currency are property for tax purposes
>zero people here have any intentions to go back to fiat kek
scribd.com/document/365893210/US-v-Coinbase-order

So I made around 50k

Never kept records, will try to pay taxes on it, will get audited, no records.

Looks like I'm going to jail.

It is only going to get worse too. Local municipalities are underwater as is with record taxes that are starting to dwindle from the Obama bar tender jobs and retail armagedon. The Fed will raise the rate in Dec. for the last time and continue injecting capital to stabilize housing hard along with equities and securities.

At this rate the pensions will bust since they can't raise rates further/faster without causing a market panic. Wages continue to stagnate and fall, global housing markets cooling, record debt (mort., auto, student, cc), dxy has to be kept low to inflate some of the pressure away and retail consumer confidence in the markets rising is ATH.

Be very fucking careful avoiding taxes but that being said be very fucking careful reporting crypto. It is going to get ugly when the local, state, federal government, banks, industry sectors, niggers and spics all need a bailout. If you are dodging and make a good salary give back, fiat only, to an animal shelter, elderly home or something that doesn't feed the ghetto army.

i have never desired a post to be a troll attempt more than this one. because if it's not then it's one of the dumbest things i've ever read