GREAT SO NOW I HAVE TO FUCKING MANUALLY KEEP TRACK OF EVERY FUCKING TRADE BECAUSE SOME REPUBLICAN FUCKING NIGGERS...

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAA FUCK YOUUUUUUUUUUUAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

Dude capital gains, even short term, simply means you’re taxed at your income tax rate. Treat crypto like a job, you’re still beating the hell out of wage slaving. Even with the tax withholding.

Don’t be a whiny little bitch.

>makes 10000% ROI speculating on a series of tubes expressly designed to break USD
>assblasted that the government wants him to report it

Don't blame Trump voters, blame the retarded SJW who pushed people to vote for him. Looking at you, XLM.

just trade on binance only
i want to see how that 55 year old IRS agent gets a single document from binance lmao

Nah dude it's bullshit having to keep track of crypto to crypto trades. I should only pay taxes on what I take out to fiat. It's literally like being double taxed, so what, if I make a few coin to coin trades in 2018 now I'm going to have to /cash out/ to pay those fucking taxes and then pay an extra set of taxes on those coins i cashed out to pay the taxes?

Literally the fucking most retarded system on the planet. Thanks Trumpets.

Why dont you boycott it? Start by sending letters of complaint to your local senators. DO SUMTING FAGGETS other than complaining fucking sheeps

Found the FUDding loser who missed out on the money train

>boycott taxes

They'll keep you hostage and spend months trying to figure out how you did it. Also if a ton of people become millionaires out of this next year the IRS will figure it out sooner or later.

more people need to be like calm the fuck down pay your taxes or risk getting dicked down hard by the IRS

...

>implying that does anything in this absolute /police state/
>implying they're not all paid traitors

Trump is doing you a favor Veeky Forums, he's trying to tell you to hodl instead of trying to day trade

>complaint to your local senators.
Your local senator doesn't give a fuck about your monopoly money gains user.

bullshit nigger I hop around coins when i see potentially bigger gains to be had, now with this bullshit tax bill I have to consider /cashing out/ to pay for those trades?

FUCK THAT

no, it's
>land of the fees

IT HURTS STOP IT user AAAAAAAAAAAAAAAAAAAAAAAA

it was actually a democrat who put in the crypto part of the tax bill

Shumer and Pelosi insisted

Just be glad you dont have a steemit account and rely on Steemit for your income.

Every upvote is a taxable event!
It takes 13 weeks to fully get all of your money back out of Steem power. So if Steem ever gets an insane bull run in value and you are a poorfag YOU FUCKING GO TO JAIL because you cant cash out your coins fast enough to pay your taxes.

gotta get mo' money for dem' programs somehow

>HURR DURR ITS THE DEMOCRATS FAULT FOR PUTTING 600$ TAX FREE TRANSACTION

HURR DURR THE REPUBLICANS PASSED THE FUCKING BILL WITHOUT EVEN READING IT HURR DURR PARTY POLITICS

fuck you and fuck the IRS

This is what happens when you decide to elect a reality TV star and glorified estate agent pampered daddy's boy who also happens to be 70 years old and an all-round cunt.

LOOOOOOOOOOOOOOL

That sounds interesting.

Say in 2018 all the Stinky Linkies become millionaires. If they then move to Puerto Rico and establish residency, do the taxes become zero on anything they then cash out?

this

File an extension retard

This shit is only going to matter if you've really, truly made it. I mean, if you're cashing out 1m+ and complaining about having to worry about each individual trade, you don't deserve your money and deserve the IRS fucking you. You've NEETed your whole life, found an easy out, and think you're going to just skirt by with 0 work, reading an image board to catch 20%+ gravy trains?

I hate people like you, chill out you whiny bitch. Grow up and act like an adult, this could lead to you retiring, and if you're not even close to that, why are you bitching? They're not going to care about your 100 dollars you cash out to buy a fleshlight

fuck you statist boot licking faggot cuck

You are both right.

NO

NO ITS STUPID DRUMPHY. ITS NOT LIKE THIS WOULD HAVE HAPPENED WITH LITERALLY ANY OTHER CANDIDATE

DID YOU FUCKING IDIOTS EVEN SEE WHO HE WAS RUNNING AGAINST? YOU THINK JOHN KASICH OR BERNIE SANDERS WOULD NOT HAVE TAXED YOU?

STUPID DRUMPHY

>being this delusional
Yes, lets blame the democrat for allowing 600$ tax free transaction in a bill created by republicans and passed unanimously by republicans

>being this deluded

>This shit is only going to matter if you've really, truly made it.
Speak for yourself, faggot.

>it's okay to get screwed over as long as you make enough money to still have a lot left over
>just commit tax fraud if it's a small amount

People like you make me sick, paying taxes for cryptos before you convert to fiat is absolute bullshit.

Former crypto supporter here it's hilarious seeing shitcoin traders' neetdom crash and burn but seriously we can't let them get their hands on millions of dollars

My only real problem with the tax situation is the opportunity cost is super insanely high when it comes to paying taxes.

They treat this like its me just paying 30% of my income but that 30% ends up being 300k a year from now.

But on top of that, if I go a year avoiding taxes it would be more cost effective to pay it all at once on the second or third year down the road. Once you calculate how much you owed each year, then HODL those coins for an additional year.

Paying 2 or 3 years of taxes at once is more cost effective due to the insane growth of the market.

this

I'm not reporting shit.

I've withdrawn about 35k worth of crypto to my bank account this year. I put in like 30k though.

If they call me on it I'll pay the penalties or whatever. If they freeze my accounts I'll just renounce citizenship and move to Japan with my crypto like /ourguy/.

Aren't you libcucks the ones always crying about rich people not paying their fair shares and hiding all their wealth

Dumbass communist hyprocrites

>Getting citizenship in Japan.

Lmao good luck, fag.

This is true, but we shouldn't be forced to hold our fucking investment because of some bullshit tax law. How the fuck do we change this shit? No one seems to give a fuck about it or even know about it, so we're just going to let them steal our money and force us to trade a certain way?

I really don't want to cash out to pay for my crypto to crypto trades.

Do any of you fuckers actually plan on paying taxes? As soon as I get any substantial amount, I will be transferring to a non-US exchange.

I make fuckin 13 dollars an hour at some shit job. I put my only 1000 i could spare into crypto and i have turned it into 4000 in the last 4 weeks. I plan to continue at this rate and I plan on not giving one mother fucking penny to the nigger tax man.

Capitals gains? Nigger you already taxed the money once when it came out of my paycheck. What I do with it is my business.

Its nearly impossible to get into Japan that way.

A democrat snuck it into the bill:
en.wikipedia.org/wiki/Jared_Polis

>He's for net neutrality
That's cute, honey.

>implying i'm a libcuck because I don't like trump or republicans
the absolute state of /pol/
You know people exist outside of the current spectrum of political alignment, right?

thanks trump

>Capitals gains? Nigger you already taxed the money once when it came out of my paycheck. What I do with it is my business.
fucking this, I wagecucked my initial $500.

the government can fuck right off.

Big brained centrist confirmed, exit thread, he'll wow us with his fence sitting smarts.

This

Put together my taxes yesterday and it wasn't difficult. Imported data from 6 exchanges including etherdelta and accounted for 6 icos. Made 20k and set aside a bit over 5 then buisness as usual.
Use bitcoin.tax and if an exchange isn't supported you can fix the formatting and upload it as a custom csv. For etherdelta use deltabalances.github.io

They could just simplify the process, just a tax as soon as you cash out into fiat. Otherwise if they want to tax this as a currency then I'm going to pay that tax with said currency. Hope you like getting paid in e-pennies IRS.

I am going to enjoy it when a lot of these "Pay your taxes because its good" people realize they cant actually cash out like they think they can,

Cashing out crypto efficiently is a privilege a lot of people simply don't have.

Also, I will cry a bit when the IRS just starts toss innocent people who lost wallets or fucked up transactions. Because they WILL need to take a zero tolerance stance on shit like that.

A lot of us are already doomed to prison as we speak.

Literally the only way to get citizenship as a foreigner is to marry a jap

>Polis is the first openly gay parent in Congress.[1] He consistently ranks as one of the wealthiest members of the United States Congress, with a personal net worth estimated at nearly $400 million.
>born Jared Schutz
>In 2000 he legally changed his name to use his mother's surname, in part to raise awareness for a fund-raiser and because he simply "liked it better".

Wow, a gay Jewish democrat degenerate. Go figure.

Did you or did you not vote for Hillary

good point man. i transferred $6mm worth of coins to my wallet and then my hard drive died :(

:)

red or blue, it's still a jew fucking you

>Rep. Jared Polis, D-Colo., and Rep. David Schweikert, R-Ariz., co-chairs of the Congressional Blockchain Caucus, introduced the Cryptocurrency Tax Fairness Act of 2017 today.

Stop spreading lies. Republicans are equally at fault, even more so since they control the entire government.

You are retarded if you don't wait until the last second to pay your taxes when you hold crypto.

The best thing to do is wait as long as possible to reduce the risk that your shit either goes way up or way down.

Fuck no. I wouldn't have voted for anyone running. I'll probably never vote. The system is completely fucked and the people are too.

You are toast, they will say you are evading taxes.

The proof is on them.

Nope. With the IRS it's guilty until proven innocent. Another reason why the IRS needs to be abolished.

They can feel free to prove it then. Or just say you lost it in a hack. They can't prove otherwise.

he doesn't even know what the fuck those words mean nigger

They will say he is hiding the recovery keys. Flash bang his dog and rip his house up looking for them,

Nah bro i had my coins on a ledger nano and i got mugged while walking down the street. I filed a police report look at these bruises where i got punched.

More like kill his dog. Police shoot all animals on entry.

>falling for the jew lies about a completely unrelated realestate tax code
YOU BOUGHT YOUR RIPPLE DIDN'T YOU GOYIM?

>5k in taxes from 20k
holy shit land of the free

>take risk
>lose out
>oy vey goy tough break huh better luck next time

>take risk
>profit
>oy vey goy give us our fair share we have a claim to your money

fucking americans. you ruin everything. first net neutrality and now crypto.

BUT DEMS ARE DA REAL RACISTS YOU HAVE TO PAY TAXES SO BASED MAGAPEDE NIGGERS CAN BREED WITH WHITE WOMEN #MAGA

"Why were you carrying that much around like that?"

>net neutrality is over
If a jew ever tells the truth they die.

The delusion on here is insane. I've been audited before. They will ask for all records of income and copies of your bank statement. They can't hit you with 6 million in income if there is no trace of that anywhere on your bank statement or financial documents.

I love how all of the sudden everyone realizes that the government oversteps their boundaries and infringes on peoples rights and pocketbooks.

Its hilarious really. Ive been a libertarian for many years and ive said all these things before. Yet as soon as your precious gains are looking at a 35% reduction suddenly everyone dislikes uncle sam.

Republicans are just leftists that love big government and taxes.

You guys should have voted for Ron Paul

4d underwater backgammon, and you're a fool if you believe anything else.
Once user decides that enough is enough the tax code will be as worthless as the paper it's written on. How many accountants and tax attorneys do you think lurk here? Whales that can't remember the last time they paid a dime in taxes?
Give it a month or two and a pastebin will be floating around on how to Jew the IRS into oblivion

if that's true, then they wouldn't have needed to pass a law about it, now would they

I cashed out completely and then calculated it, but that doesn't actually matter. You transfer the cost basis at the point of trade. It doesn't matter if your holdings go up or down until you trade them and the gains are taxed in whichever year that happens. You can also claim losses as a deduction up to $3000.

Euro taxes are even higher, gotta pay for all those muslims raping their daughters and wives. American personal income taxes are some of the lowest in the developed world.

>republicans control the entire government
>ironically believing this

When will you brainlets learn

They will have to treat this differently otherwise everyone will lose their wallet and everyone will find a magical wallet 5 years from now.

This tax thing is bullshit

But net neutrality is also bullshit

The government grants comcast etc monopolies in the first place
The government is the reason comcast etc is so big

Who else is going to pay for Shaniquahs niglets? Pony up you incel NEET.

and if you dont we will send men with guns to bust down your door, shoot your dog, give your kids PTSD and make your wife piss herself while barking confusing commands at you and literally put you in an unbreakable steel cage. Then, we will take far more than what we originally asked for just to make an example out of you.