You have 4-7 hours to make your final tax-free 1031 crypto trades

OH BOY MR. SNAKE COIN SALESMAN, I'M HOLDING XLM! AM I GONNA MAKE IT??

NICE TRAJECTORY STELLAR SNAKE

Hahaha nobody gives a shit outside of /pol/. Just like IOTA, just like 'omg Vitalik'. No one cares.

NICE TRAJECTORY STELLAR SNAKE

WAKEY WAKEY

happy new year dude

WHAT THE FUCK IS HAPPENING?

>zero sum game
what is, blockchain as a service?
faggot

STRONG HANDS ONLY DURING THE CORRECTION MOON MISSION STILL ENGAGED

nope. it's a like-kind exchange

not true. crypto to crypto is a taxable event and always has been. The amount of ignorance in this thread is amazing.

the fact that they changed the law to explicitly prohibit crypto-crypto as like kind exchanges in 2018 means that it is allowed prior to 2018.

Like kind is extremely tough to get through as it will always be denied. Crypto is considered property and we have to pay for all transactions.

I would love to see how this will be enforced, and if an IRS agent would even know where to begin.

Have any of you plebs looked at:
stellar.org/about/

The board and advisors have some power players

2 founders from Stripe.com the largest online payment gateway. A paypal killer. Billion dollar payments company.

And president of YCombinator Sam Altman the investment firm behind Coinbase, and Request Network.

They didn't change the law it was already the rule. This just codifies it and makes it official.

It's easy.
>hey user, it says here you came up with 100k usd from nothing
>yeah, from my crypto gains
>can you prove it?
>sorry, all secret monero transactions
>well then, if you can't prove it's yours it's drug money and we are taking it all

Probably impossible to fully enforce. However the IRS is clamping down on crypto tax cheats and anyone caught cheating will get it in the ass with no lube.

If you don't provide support and they find out about crypto trading, they will likely assume you have a $0 basis in the coin and tax your entire sale as the gain

>cashing out

>Make millions in crypto
>Move to another country that isn't retarded
>Get citizenship of said country
>Renounce US citizenship
>Cash-in crypto gains
>How can IRS bois even compete?

exactly. so you're better off reporting your shit. Losses are reportable and could offset any gains requiring less tax to be paid.

Ok Roger Ver.

Well, that's actually the only plan that will ever work.

What about those freedomz?

>Renouncing your US citizenship

I have no problem paying taxes for what I cash out to USD. Render unto Caesar what is Caesar's. But crypto to crypto can kiss my ass.

Bfjncdd

>freedomz
>have to pay taxes on worldwide income
>fed raises fees required in order to renounce citizenship

US citizens are essentially slaves without knowing it.

I'd have no probs paying taxes when everything was converted back to USD, but punishing me for trading crypto is just retarded. I'd drop US citizenship in a heartbeat if enough money was at stake.

Out of curiosity - are tax codex on US oversea territories different from the mainland, especially in regards to crypto? Also, has anyone ever looked into the tax codes and laws of small Pacific island nations?

You know what, they have no way of checking that the trading papers we deliver to them are actually accurate (assuming you use Binance and the likes).
We could make a program that computes every coin value during the whole year and comes up with the minimum amount of trades to get from your starting point to you current portfolio value.

LOVE THE KIKES, RACE MIX NOW!

Am i gonna make it with 100 XLM guys

lmao

I only have 264 so im in the same boat as you

...

Lol. I'd buy takeituptheasscoin if it got me 2x gains.

you might walk away with like 200 dollars

Venetians worked with the Jews to sack Constantinople. Ill work with the Jews to sack all of Europe. The profits will be great.

I'd buy killthepandabearscoin if it turned my 260xlm into $500k

well...you can buy a new psu with your profits.....a year from now.

126 lumens at 19 cents leggooooooo

im trying to get something with two wheels and an engine...

then dump at least 5k in to lumens NOW

Not too familiar with it but I know taxes on the mainland of different from, say, taxes in Puerto Rico. (You don't have to file a Fed income tax form).

I dont have that much in fiat but thanks for belevign in me

my folio has grown larger than my bank account too and i only have a few xlm i feel you

You dont even have to renounce your citizenship if I recall correctly. You just have to not live in the U.S. for more than 30 or 60 days out of the year. At least its that way for income taxes. Might be different for capitol gains.

I have a years pay in my crypto accounts. But 400 bucks in my bank account. Its quite funny DESU i dont even care anymore about

Could somebody explain XLM to me like i'm 5?

I understand (and quite like Ripple and the XRP token). Lumens appears to be targeting the same markets but seems like a poor mans version or simply a 2nd chance (for those hating on XRP) for perhaps the more prideful Veeky Forumsmen?

I knew i shouldn't have dumped half my XML during the last pump. Oh well buying back in :^) technically not down with my profits on another pumped coin.

lmao same
>unverified account
>foreign exchange
>cashing out paycheck like amounts
good luck

lmgtfy.com/?q=Stellar lumen

>a poor mans version
All you have to do is read the whitepaper and check out the partnerships to see why this is wrong. It's an improvement on XRP.

Its over boys we are going back up

it's your next chance at XRP

Hahaha no. The US Fed will try to rip you for everything you're worth.

17k xlm, trying to pay off my student loans. Good luck bro

>tfw still going to sell my soul to the DoD so I can afford to pay off my student loans and not be homeless
>because I cant afford more XLM
I cant wait to become a sailor

Graduate with a desired degree then move to Europe and bail on your loans.

Luckily I live in Singapore where there is no Capital gains Tax ;))))))))

I guess I know where I'm going to move within the next 5 years.

Tax Havens are going to gobble up everything in the coming decades, its a serious concern if your not already in one

You mean places with less taxes getting a huge influx of bucks from people getting out of shit states and taking their money with them?
I was thinking about that earlier today. I'm poor though so I'm stuck for now.

I already have my degree, problem is never being able to see my family in the states would suck, and the US is the highest paying country for my profession

Leave your Feelings out of investment. I better spend my money on an inclusive pseudo all caring coin which attracts the broadest market than on an edgy neckbeard shit. We are here to make profit, not to pamper your gullible little Agenda.

You're fucking retarded. In every way possible.

Thx for your bags, see you at 10k sat

But think how many guns we can buy with our gains.

>I'd drop US citizenship in a heartbeat if enough money was at stake

You'll make it for sure!