Anyone have good advice on claiming your crypto earnings when it comes to talking to the tax man next year? A friend of mine recently sold 30k worth of BTC using sellabitcoin and they said it was the individuals responsibility to report all earnings?
Ausfag Tax Tips
Hunter Stewart
Jaxon Turner
of course it's the individuals responsibility, what else do you want to know?
Lucas Gonzalez
How fucked will they get if they dont?
Cameron Powell
What's this shit about cashing out less than 10k at a time bein tax free? Smells like bullshit.
Jack Reed
Yeah someone mentioned that on here a week ago and no one really explained why
Jack Cruz
Well they've fucked up their evasion so I wouldn't even consider it a viable option, they may have legitimate outs on the tax though like.
This is under certain circumstances with a buying in of less than 10k and spending the bitcoins on personal shit, should be able to have a go at some flexibility here, if you've been day trading may have difficulties
Easton Johnson
you are a retard, go look at the ato website. 10K for the entire year. So you can cash out $100 this week then $100 next week, but by the end of the year if the cash out is 11K, then u pay tax on 1k.
Brandon Gonzalez
source?
Jace Rodriguez
fuck you go look at the ato website on cryptocurrency. You can google it lol.
Tyler Ramirez
I have, in detail, I've seen nothing about cashing out under 10k and it sounds like the IRS meme