WHY THE FUCK DO I HAVE TO ENTER EVERY FUCKING TRANSACTION ON THE TAX FORM?!

>WHY THE FUCK DO I HAVE TO ENTER EVERY FUCKING TRANSACTION ON THE TAX FORM?!

You don't have to until next years taxes. All you need to do is every time you converted to cash in your account.

Request your tax transcript and see what the IRS actually has for information before you file.

If you were using a decent brokerage for stocks you can output the data into TurboTax pretty easily.

If it is Crypto-trading there is really no way to tell what trades you made so make an estimation of your gains to the best of your ability and remit taxes that way. You really can only be taxed when you have transferred out into US dollars or you exchange for tangible goods or services. While the IRS can claim you need to pay taxes on every transfer between coins that is impossible to determine because you would need to make a conversion into an amount of US currency based on a benchmark price to determine if there is a taxable event and there is no guarantee you would receive that amount unless you actually transferred it into currency.

Me? No, but Tyrone will.

I dont plan to cash out untill the market goes up to at least 10 trillion by then I'd have enough to move to a place where the gove doesnt leech of the people if my plan doesnt work I'd rather go to jail those jews aren't getting a penny from me
Pd you are a faggot

And subsequently, Apple just brought billions of dollars back from overseas to be taxed.

Also, got my first paycheck today on the new plan, like I got a nice 5% pay bump.

>untill the market goes up to at least 10 trillion

Do you have to do this even if you don't cash out? What if you're a poorfag??

Nigga what the fuck is NL? Fukken pajeet tier ass lil bitch country

Does this also include daytrading BTC to fiat at GDAX, and not depositing that cash into your bank account?

Do people really think the IRS isn't used to people trading a shitload on real money exchanges? They don't expect us to hand write every fake money exchange either.

>implying it wont

North Loo

Conservatively

You've never been audited.
No, they don't expect you to hand write it.
You can make your own version of 8949 in Excel and print it out instead.

Every time you sell a coin, you owe tax for that year.
It doesn't matter whether or not you take the cash out of the exchange.

Why don't you sell the coins to each other for cash? What's the problem, I don't get it. Why pay almost 50% in taxes for cashing out through the bank accounts?

i don't care who says that "every trade is a taxable event". I'm only going to pay tax on what i cash out in fiat when i decide to do so. and that's only so they can shut the fuck up anyway.

i don't care if some neet says "NO you're doing it WRONG"

I don't care.
I have have no realized gains.
Then i'm not paying any taxes at all.

paper gains are not real yet.
so they will not get a thing until it becomes a thing and that's how it's going to be.

Good Day sir!

MFW my country's law explicitly says you only owe taxes when you cash out to local fiat and there's no jewish one year rule.

Get REKT, burgers.

Protip: cointracking.info
Enter API keys and voilá.

>"You'll be getting the real thing up your ass eventually."

Don't even try user. Let the stupid help themselves.

so if I sell xlm for btc, how much of the btc do i have to send to the government?

>exchange loses your trades
>you're fucked
KEK

also, the exchange records all of the transactions, but how do i know the usd value of each of the transaction pair at the moment I traded? is this recorded or do I have to look at historical graphs and figure it out for each trade manually? also do you niggers really live like this bahahaha

THANKS TRUMP

Force the argument on this topic to making it so the IRS has to target the creators of the coins. If they cant make the people who created the coins and own huge amounts of those coins pay taxes on those coins then then nobody else should either.

Any situations where there are pre mined coins. ICOs or anything where the creators have profited for making the coins are a good start. Also any forks as well, If I remember correctly the creators of Bitcoin Gold had a bunch of hose premined.

Then once we have that figured out and memed properly the next will be to muddy the waters on what the difference is for all digital assets as well.

YOU DUMB KEKED FAGGOT

I HAVE AN IDEA, DON"T PAY

IF YOU DO, 5% of YOUR PROFITS AND CALL IT A DAY

>thinking they are gonna come after small fry crypto traders

>FAGGOT

Wow excellent strategy sir

This is how I THINK it should work so I don't care what the law says so I'm going to announce to the internet that I'm knowingly going to commit tax evasion

Well played user, I'm sure it'll all work out just fine

Cointracking.info

Go to investing.com. Download BTC/USD daily history. Import into the same excel spreadsheet as your trades. Do a VLookup

Seriously, if the IRS said we needed to generate realistic unicorns people like you would be calling anyone not putting effort into bio engineering real world unicorns are lazy.

Face it fucker, the IRS fucked up on this and it doesn't matter what the law says. Its completely insane and its not going to be enforced.

Realistically no one should pay taxes unless they owe $100k+

The government will pester you for any value less than this but they won't really pursue it if you keep them hanging.

Yes it is cash in gdax. Whether you withdraw is irrelevant.

netherlands.

Wrong. That's not how i think it should work.

We should not have to pay shit.

That's how i think it should work.

Good Day sir!

>Oh its super easy to do!

Ok, user care to share your document with us? I would love to see how you pulled this off so eloquently.

Day traders are fucked. Bot traders are fucked beyond any measure.

AHAHAHAHAHHAHAHAHAHA

Gdax
Cash 5000
Buy eth 5k is my basis

Transfer to binance
Buy Link for eth, 2018 taxable event no 1

Sell link for eth, 2018 taxable event no 2

Transfer to gdax
Sell eth, taxable event no 3
Sold for 8k

8k minus 5k is 3k.
Be damn sure your tax totals of events 1, 2, and 3 total 3k. Beyond that just estimate.

dude, you literally have to pay 5% of the gains of each trade + 1.2% of all your wealth each year.

t. former German now living in NL

>Doesn't have fiat value
OH NO NO NO

would you be willing to assist a financially illiterate NEET in the near future? Willing to pay quite handsomely

I wanna see the spread sheets that these IRS shills are putting together so easily. Lets see them guys. Come on. Put up a link!

Come on guys its super easy right. Lets see it. Its all on public ledger anyway right!

THIS MAN HERE IS GOING TO JAIL

How do this on kucoin? I'm not seeing anyway to find the API keys

How the fuck are we supposed to track trades when exchange data is only recorded in satoshis? Do we have to look up the price of BTC at the moment of every trade?

> 5% of each gain

Nope

> 1,2% yearly wealth tax

That is correct but you don't pay over any capital gains nor do you have to fill those out on a tax form. T. Tax lawyer

Why not just learn it?
Financial and tax literacy will make you a better investor.

Faggot gay bitch cock queers listen.
It’s crypto. Do not pay your ucking taxes you kike law abiding cunts. You don’t have money. Pay the fuckin taxes on your job. Start an eBay store, write shit off, do your own fucking taxes. Stop bitching about this gay fud shit the government has no right to your goddamn income and it says so in the constitution..... that was amended but they are kike cunts who stole land from the natives.

Man up and fucking create wealth and dodge bullets bitches.

Apparently i sold 2 ETH on Kraken acccording to CoinTracking. How do i fix this? I never sold ETH on Kraken nor do i have Kraken account. Fuck this faggot tax shit.

lmao this is why NEETs shouldn’t invest in anything

It was already posted but cointracking and bitcoin.tax are great. You upload your apis and they calculate it all automatically. They find the usd value and all. I’ve been on 4 separate exchanges and had zero problem.

You just need a close estimate. You don't need exact moments of price. Important is getting the loss and gain right. Honestly you should know this already. After all how do you know if you are making money?

Keep in mind why the IRS is doing what they are. They don't want someone hiding money. They also don't have the data on crypto trades. If thousands of people submit lots of transactions then next year they may simplify rules.

I learn best by watching others and reverse engineering

Then get a 1040 pdf form and the 1040 pdf instructions. Read every line. Do the same for a schedule D.

t. brainlet

>paying taxes

Why not handcuff yourself and eat dogfood in your basement as your own prison guard while you're at it.

does it matter that my coins were worth 70k on December 31st and now just 3 weeks into 2018 they are worth over 500k?

No friend, you pay taxes on what you had on dec 31 2017. You got lucky too, paying taxes on 500k would have almost surely made you sell a big chunk just to pay that. Congrats on that gain though.

Serious question. If I have less than 20k across a bunch of shitcoins will the IRS know/care?

what's to stop someone who 10x'd their stack in December to fudging their transactions such that their gains didn't occur until the next year?

I think we all know that the IRS is not going to subpoena Binance or some other chink exchange, let alone actually pay someone to parse hundreds of transactions for a single tax payer.

and thank you

>i also have to pay taxes on mining
how in gods name am I going to keep track of all the little worthless shits I've mined?
fuck this shit ill just pay taxes when I cash out and hope exporting it from the exchange handles it for me. If the kikes really want my money they can just ask the NSA for how much I have in crypto.

immediately anonymize all your coins using monero everytime you buy with fiat, you cuck
trade with an offshore exchange like binance or decentralized exchange like openledger

Login > settings > API keys > click 'create'

However last I heard KuCoin didn't have read-only keys (only all access) so use at your own peril.

>It was already posted but cointracking and bitcoin.tax are great.

Super great huh

Lets see your awesome spreadsheet then. Cmon show us all how easy it was to set everything up for a couple thousand transactions on multiple exchanges and wallets with various different coins.

I would love to see examples!

God damn I hate my country.
At least it's simple.
33% flat.

>government just takes 1/3 of your money
the fuck world do we live in where there is so much communistic bullshit like this

0.4 out of 100 people here will be audited. Even less if you're a neet.

>day finally comes where you cash out

>Hmmmm user care to explain where this $400,000 is coming from ? You wouldn't happen to have been investing in crypto without telling would you? You can be charged for tax evasion if that is the case.

>Go to prison get ass raped

Yeah good one user

Cool FU, 0.001% of americans go to jail for tax evasion. 99.999% of audits will ask you to send in additional documentation and they leave you alone. They don't have the manpower to go through thousands of trades unless you're a highroller who has 6-7 digits of crypto.

FUD*

You don't actually have to do this this you cuck.

Wow you’re so butthurt. Pro tip for life, being passive aggressive does nothing but make you look like a goddamn weak minded fool that’s afraid to speak his mind. Go to cointracking.info. On their home page they even have a link so you can do a live demo.

Nothing is stopping you. The problem comes whenever you decide to cash out, they’ll want to know where the money came from and want detailed records. You have a lot of people saying the irs won’t look at you if you have under 20k or 100k, it’s possible you can get away with it. But if you’re one of the unlucky crypto traders that gets a full audit, you’ll be wishing you were truthful on everything.
It’s a risk I’m not willing to take, but do as you wish.

Where are these fuckers that keep claiming this shit is super simple to do all of a sudden? Come on user's you claim this is possible and super easy lets see some working examples. Your shit is all on the public blockchain anyway.

Lets see some spread sheet magic you fucking lying shills. I would love to see how you did it!

>On their home page they even have a link so you can do a live demo.

Awesome! So its super easy huh? That page wouldn't possibly be to dox people though would user? I mean its super easy to setup and it works super well so lets see your results!

You fucking lying shitbag.

You don't report anything and go to jail when they find out.
Easy.

You forget your meds kiddo? How about a 2 minute YouTube video they have.
youtu.be/NG5t4q0cFRQ
Not wasting anymore time on you, go shill bazingacoin some more.

hmm seems to me that its not necisary. Mainly because you have no way to report. If you did then it would be super easy to show your examples.

Are you afraid that we will know you are full of shit and you dont actually own any crypto and you are just shilling right now? So whats your numbers user? You paid your taxes already right?

How much did you owe? How many transactions did you do? Do you have at least a screenshot showing what you had to turn in?

Cuz I bet you don't!

even if you have to pay tax, by using monero, no one can trace how many transactions you have made, so you can just pay as if you have only made one transaction.

You have a better chance of getting tetanus than going to jail for tax evasion. You got your booster recently I hope. Wouldn't want those lungs to close up on you because you were scooping out your cat's litter box.

Of course cuz I backed you into a wall. I want to see some numbers. I want to see your working example of what exactly YOU personally did. We all want to see it actually.

Its your time to shine guys. Lets see it! I mean you ARE telling the truth right?

Right?

You can go on Reddit to see examples of people who have used these products. For some it works, for others it's a buggy piece of shit. Are you a pajeet? You type like an angry 3rd worlder.

Regardless, if you're not a day trader and actually invest, this wouldn't be too hard to keep track of on an Excel document, as long as you don't let unlogged transactions pile up.

That's what you get for being a stupid American fuck. Enjoy your shitty delusional free world country you cunt. Don't get shot on the streets MURICA

I wrote a bot, it traded 1.4 million times.

Send it to them in boxes. On the final page, write "are you not entertained?"

God help you and good luck. Were the gains worth it? I’ve heard from many bots are like a money printing machine in crypto.

>You can go on Reddit to see examples of people who have used these products.

Ok, so you REALLY want me to use your product huh. I get it. Its a product you think is super amazing. And I can "educate myself" by going to reddit huh.

> Regardless, if you're not a day trader and actually invest, this wouldn't be too hard to keep track of on an Excel document, as long as you don't let unlogged transactions pile up.

Oh so what should day traders do then? Are day traders just fucked then? I thought your product was super amazing! It handles day traders and people who do tons of transactions as well right? I mean it seems an awful lot like you don't personally have faith in your product all of a sudden.

I guess you are also admitting you are not a day trader as well right? I mean you seem pretty comfortable with this product.

FUCK!! You mean this whole fucking time it wasnt the IRS it was people shilling some shitty program trying to tell us all we are going to jail if we dont buy their shit? LOL

You motherfuckers fuck you!!

It did alright, laughed my ass off when I saw the history csv was 380mb. Calling an accountant soon.

This whole fucking time these threads turned out to be people shilling for some shitty tax software trying to make us feel like we are going to jail. Notice how they point us to their products so quickly!

Why the fuck didn't I realize this sooner lol