>Buy 1 BTC on US exchange, say Kraken
>Send 1 BTC to Binance and buy alts
>1 year later, end up with 5 BTC
>After a year, send 1 BTC back to Kraken to Cash out to USD and deposit to the bank. Pay long-term capital gains on it.
How would IRS know/penalize me for the 4 BTC I made on Binance that I have not cashed out?
god damn thos bazingatitties tho
Monero.
You didn't cash out or exchange the 4 btc, so there is no capital gains tax yet.
They won't. But when you do cash those out, they will be like "where the fuck did this come from?"
Then what do you say?
Then when they have you in a huge IRS wedgie, you'll eventually say "ok, I'll pay the taxes on it, sorry!" and they'll slap you with an enormous fine and you'll be fucked right in your anus.
Are you guys really this dumb? The IRS will destroy you.
They won't do anything. You don't owe anything on the other 4
Selling large amounts of Monero for USD would still raise alarms.
Any large transaction, such as buying a large house or a Lambo would tip off the IRS.
I mean one day, hopefully, we can just spend Monero directly, but I don't think the US Gov would let that happen.
Are the trades recorded on Binance sufficient to keep up with gains for tax purposes?
.....until you sell them
im thinkin bout thos tits
Literally all crypto's promise is a product after 5 years, BZC is the only one of 20 coins that's actually finished.
MOMMYYYY
why does this tramp have a box of cereal on her bed?
nice raisin bran
Blue board you complete fucking faggot. I seriously hope you get aids and die. Eat shit OP.
She is a nurse, can't you see her diseased eyes for prions and things we haven't discovered yet?
Well that's just fucking great, OP. I lose half my crypto on shitty trades this week, and now I'm fucking fired from my job as a daycare worker.
KILL YOURSELF!
That's why she has her milkies out.
MODS BOOB ON SCREEN MODS MODS MODS DELETE BOOB
Doesn't the new tax law treat crypto-to-crypto trades as taxable events, even though you don't cash out?
From my understanding, if IRS accuses and audits you, it is up to you to prove your innocence.
Move to Puerto Rico for 137 days and cash out. No capital gains tax.
k a z h a r
Stop being an underage shit browsing Veeky Forums on the family computer in your parent's room
she looks a little dusted. I bet she gets high and eats cereal in bed topless. she probably carries the raisin bran around with her wherever she goes.
>New tax law
Crypto to crypto trades were already taxeable events
Somebody got to pay for Shaniqua's niglets. Pony up nerd!
Nah some of us have jobs bitch tits. kys please.
This is fucking honestly the best advice anyone has given in this thread.
incorrect, check out the new tax bill. It counts for EVERY single trade.. I guess most of the exchanges are talking to this company that the IRS is working with so if there is anything even remotely close to linking your name to the account its more than likely already linked.
This comment -->
>Browsing Veeky Forums at work
I’m so curious about a legit answer to this and you virgins all talk about the picture. Just fucking off yourselves please
Somebody sauce me and youll be compensated..
Probably not that good, using hand to keep in shape. But a friendly optical ilusion.
its highlighted in the new tax bill that was just approved. Soo... yeah new
>tfw account in Puerto Rico, exchange in China
I don't think this picture is for her husband.
>open up apartment complex in PR
>market it towards crypto traders
>fast internet, clean, no beaners
>accept monero for rent
Who is in?
Blame OP for using that pic to bait people into clicking the thread, we're just men with blood.
Have a bar and swimming pool and you've got a deal.
This is actually a really fucking great idea...
This is why I come to Veeky Forums
Short, smooth and in point.
Koveri combined with ringct will make this as anonymous as possible.
Would moving to another country and cashing out be a good way to avoid the IRS??
If so, what countries? I see Puerto Rico mentioned, also Ive heard Thailand but I dont know the specifics
Blue board you stupid faggot
How exactly would you "prove your innocence" if the IRS doesn't accept what you present?
BLUE
BOARD
REEEEEEEEEE
MOOOOODDDSS
No. Renouncing citizenship? Still no.
>invest in crypto
>make gains
>after considerable gains, travel to switzerland for a while
>make a bank account, cash out
>go back home
>?????
Why does cleaning toilets there sound better than cleaning toilets in a random hotel?
>Doesn't the new tax law treat crypto-to-crypto trades as taxable events, even though you don't cash out?
"Taxable Event" = Shit you have to keep track of on your spreadsheet for later auditing. You didn't make shit. Move 1BTC to x ETH. Your 1BTC "profit" when it triggers as a "sale" is immediately nullified y the 1BTC expenditure buying the ETH. It immediately cancels out. Zero taxable income.
Stop listening to jews. They die if they ever tell the truth to a goyim. This is all FUD to hurt crypto. Probably to push their own jewcoin.
Trips, kek's will be done. Do neets prefer to live the city life or the country life?
Something i hadn't considered, you withdraw to a Puerto Rican credit union or something? I was under the impression you had to be a commonwealth citizen to take advantage of the 0 Capital Gains tax. If you can just open an account I'll do that immedietly.
Do I have to teach English to live their legally?
LMFAO wHo cAREAS haha xD
Just keep a spreadsheet or a handwritten record. Like a notebook with dates. That is enough proof.
>probably not that good
nigga you gay as hell
Finally some beautiful boobs
I understand that, buttfucker, but still
>Browsing Veeky Forums at work
You might as well play Russian roulette on your breaks too.
>It counts for EVERY single trade
But that started Jan 1st. Doubtful they made 4 bitecoins in 3 days.
You will not kill my nofap streak. Saged and reported.
open bobs
damn we're getting some good titties today on Veeky Forums
>he doesn't know the Swiss have been rolling over for US dick for a while
Yes, i promise to shoot my load all over yor bobs
Im reading now that if you are in the 10 or 15% tax bracket, you dont have to pay capital gains taxs on long term (1year) holds.
So I dont have taxable job right now and am funneling money into crypto, I can cash out with no capital gains next year. Might have to get an accountant for this lol
Ok, so basically, we have established that we are all fucked.
So where is the best place to flee to where we won't be extradited?
I'm telling you man, remove the arm, meet the sagging.
I read that if you start a LLC, you can file taxes through it and it has a significantly lower short and long-term capital gains rate.
Anyone familiar with this?
If I could decide where percentages of my taxes go I wouldnt mind so much but its shit that people have to work so lazy fucks can do nothing all day.
What's going on here?
Honestly, if someone had the capital to do this, it would be great. Have a floor that has some accountants in it too.
Nope. Inter-crypto trading doesn't count as HODL. You'll get taxed for every transaction.
The problem for me is that I had these coins since before they had an exchange that they were even traded on. So i haven't reported them, despite having them 4 years, cause I threw the wallet on a flash drive and forgot about it.
The only exchange I could sell them on was a shady russian exchange, so basically a shit ton of LTC suddenly showed up on poloniex one day this year.
Now they can go ahead and rape me senseless and claim i had a zero cost basis for the coins and that they are all short term gains.
Might as well just cut them a check for 60% of my portofolio right here, right now.
Where is the pleasure
Just pay your fucking taxes you retards.
It's a tiny amount of the gigantic sums of money we stand to make/have made in this retarded market. Don't cause yourself further heartache and pain. If you've truly started making it, find a CPA and sort your shit out. It really isn't that bad, I promise.
t. IRS
This!!!
Then donate your profits to Jeremy Corbyn
>I mean one day, hopefully, we can just spend Monero directly, but I don't think the US Gov would let that happen.
Bro you people can't even comprehend the insane value Monero is going to have. MONERO IS **100%** GOING TO BE MORE VALUE THEN Bitcoin. You know why? Mexican Drug Money, they have stacks upon stacks of fucking Cash Pallets they literally can't move because it's to fucking much. They have heavily guarded trucks driving around filled with money and often have fights with authorities or other gangs because of this shit. That billionare fucked that sold drugs? 5 - 10% OF HIS DOLLARS ROTTED AWAY YEARLY. Can you fucking imagine that? This guy was burning money to keep himself warm at one point it would rot away anyway. Monero is going to be insanely valuable when people realize they can put large chunks of money and move it across borders to anywhere they want for pretty much 0 cost. Fully anonymous, fungible AND a store of value that cannot be forfeited. Thanks to multisig wallets you can hide a bunch of keys that the law needs to unlock your funds. Heck they do not even know how much money you have. There is also NO WAY to find out. Monero is fucking brilliant people just do not realize it yet.
>implying you would not suck those nipples for at least a week before filling with cum every single hole in her body
fedora tipping fat cum guzzler
I get it. You can store lots of money in there, but as soon as you try to spend it. It tips the authorities off.
Try buying anything big with Monero. IRS comes up your ass so fast, you won't know what to do. What is the point of a store of wealth, if you can't take it out and buy big ticket items with it.
It's capital gains + crypto to crypto. Are you insane? For most traders that's like 50% of their profit. No way we're paying that.
PAY YOUR FAIR SHARE OF TAXES AND THE IRS WONT GIVE A FUCK
>report your legit job income and taxable income
>report your investment earnings
THATS IT. PAY YOUR FAIR SHARE AND YOU WILL NEVER GET BOTHERED
>JUST SUBMIT TO GETTING FUCKED AND YOU WON'T GET RAPED
Disgusting.
>Fair share
T. the Jew
I live in Canada, Shouldn't I just Give my taxes to ISIS rather than Justine Trudeau the middle "man"
They wouldn't. But you're going to have to show how you made that 4 BTC if you ever do cash it out. You can't do much with those coins without revealing your previous lie.
Sure you can, 60k in steam credit. No one needs to know.
>push their own jewcoin.