Now that BTC is going to be taxed in 2018...

Now that BTC is going to be taxed in 2018, does that mean that there's going to be a major crash by 31 December since people don't want to get taxed if they cash out next year?

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ethnews.com/tax-cut-bill-to-require-taxation-of-cryptocurrency-trades-in-us
twitter.com/NSFWRedditVideo

>crypto
>taxes

LMAO

Bump

yes that's why it crashed a couple days ago from $17-18k down to $11k or whatever

already happened

You have always been taxed for cashing out. That is not the issue that the tax bill presents for cryptocurrencies.

No, that crash was due to Coinbase incompetence spooking normies.

This. The only difference is that the IRS will now require you to also pay taxes going from shitcoin to shitcoin instead of just shitcoin to fiat.

god I hope so.

are they going to force me to trade in usd in an exchange based in hong kong?

are they going to tax when i trade my wow gold for ISK in Eve?

fuck off irs niggers

KYS .44 REVOLVER, NORMIE SCUM!
AAAAAAAAAAAAAAAA

Realistically, it'll depend how much money you're making and if you trigger any audits.

how are they going to get trading history from a chinese website?

And if they DO somehow get that history, how are they going to get the personal information of who made the trades?

If I trade a house for twenty cars then how much taxes do I gotta give to the taxman?

I don't know, I'm not an IRS auditor.

I'm just saying, if you're under audit and they see suspiciously large bank transactions coming to and from a Hong Kong account, there will be questions and the way they'll calculate taxes you *should* have paid will be slightly different.

13 goats

buy monero

Where am I supposed to get those goats?!

Gee thanks Trump. Really working for the people considering most crypto traders are but humble NEETs just trying to get by and fucking eat.

>I'm just saying, if you're under audit and they see suspiciously large bank transactions coming to and from a Hong Kong account
... and what does this have to do with trading shitcoin for shitcoin?

you're fudding is breaking down, irs nigger

How much did you buy the cars for? How much were they valued at the time you bought the house? Pay taxes on that gain (plus transaction fees/taxes for the house) and you're good. At least until the value of the house changes.

>This. The only difference is that the IRS will now require you to also pay taxes going from shitcoin to shitcoin instead of just shitcoin to fiat.

You were always required to report and pay tax on every trade. Stop spreading misinformation. t. CPA

ethnews.com/tax-cut-bill-to-require-taxation-of-cryptocurrency-trades-in-us

Not if you were autistically switching between PnD shitcoins, which is what I assume 90% of Veeky Forums does. Or am I missing something in the definition of like-kind exchanges?

But there are no large bank transactions, i'm not sending any money back into the fiat system. There's no IRS alarm bells, my ledger wallet isn't sending the IRS alerts if I deposit BTC. There's nothing that would even alert the IRS that I might not be paying taxes or i'm worth investigating. So how do they even know that i'm trading crypto in the first place?

Fuck off, Hillary woulda butt fucked you endlessly. MAGA

The like-kind exchange doesnt really work. It's a technical loophole, nothing more - in practicality, the IRS can define it however they want within the framework that they are given, which is basically infinite power to buttfuck us.

We were always required to record and track our trading activity. Of course, no one does that except cucks on leddit.

Love ths amerifag rage over something that's always been like that in Germany. Have fun tracking every single trade and every single USD price at the time of your shitcoin/shitcoin trades.

When was crypto gains not taxed?

Also crypto to crypto trades were already this way they just codified it because too many fags were trying to game the system.

you faggots shilling for the irs can fuck off. bitch ass niggas. i'm not paying shit. try auditing the chinese exchange and hardware wallet i'm on faggots. I'll trade everything on localbitcoins when I cash out my millions. suck my dick fascists

At least Hillary isn’t sucking Putin’s dick.

Honestly if the majority of your money is in crypto the best move is to declare bankruptcy, claim you forgot your private key, then leave the country and cash out in Russia or switzerland.

Or just wait until rent and groceries can be paid in crypto.

At least Trump isn't sucking some Arab woman.

thats why everyone is bitflurring it up

user, THE CRASH IS NOW. SMART MONEY SOLD 8.3 HOURS AGO.

this was already the case you fucking retards the tax bill changes nothing

We all know germany is fucked, it's the biggest kike land in europe. Of course the us is close behind. "Land of the free", maybe now you can show some respect to lesser and 3rd world countries you /pol/ wankers.