So I just finished calculating my taxes and everything came out to be around $40,000. But then I read that we can't claim the like-kind exemption. So I redid everything and now I owe $80,0000.
How come nobody talks about this? How is paying taxes every time you spend crypto supposed to be sustainable for the crypto market?
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Dude Cryptos are just numbers, pixels on your screen, it's not even real. It's not taxable anymore than air is.
We have been talking about it
You are just not paying attention
yeah.. right. clearly this guy got the memo
Have fun explaining that to the taxman. I'm sure he'll be very understanding.
what's the conclusion been?
>implying they can prove I avoided taxes when I trade on foreign exchanges where I'm unverified.
>implying the IRS is going to be getting transaction logs from every exchange in the world to crawl through the tens of millions of robo-transactions
You claim your "use tax" every year too, right? Anything you purchased online that you didn't pay sales tax on, you reported too, correct?
The IRS doesn't give a flying fuck about anything but seeing a cut of your profits when you cash out. As long as you report something, you're good. It's just more kike propaganda to scare crypto-users and attack Trump, same as their outright fucking jew-lies about "repealing Net Neutrality."
How much did you make $220k?
My fiances dad is a cpa and financial lawyer. He said you only pay when turned to fiat. There is zero way they can or will track milions of retards buying internet meme money.