My accountant just sent this email

>her
Implying i would hire a woman to do my taxes

And you need a lawyer soon.

>paying to get jewed into getting jewed
wew lad

Damn Jamie Dimon don't get so mad. I'll buy a couple of your JP Morgan stocks if you stop sounding like a little bi

these two rejects have never read the provisions that cover the tax treatment of crypto gains. please don't listen to them
the like for like transactions are attributable for 2018 and onwards. the rest are not taxable events unless you liquidated back into fiat.

who can stop you from lying and saying you converted from a -> b and that was it? Also what's the god damn point in these taxable conversions? It sounds like a bunch of lies

>he like for like transactions are attributable for 2018 and onwards
That's a bad thing tho cause all future trades are taxable.

hint hint you are over paying and hes pocketing the rest!!

This lol of course your like accountant wants you to have him work it's how he makes a living. It's like mechanics fixing parts of your car that aren't even broken and charging you for it

>"please let me know if you've trade any"
you were THIS close user

>enjoying being around other males

get cucked some more

There was never a like for like provision you dumb cunt. They just clarified in the new law that you need to pay on trades. But honestly there is no way for the IRS to track down every single person making trades and make them pay. I’m claiming the money I cashed out, minus my original investment, and if they don’t like it they can suck my wife’s boyfriends dick

Thats my secret captain, I never make a trade.

Lol. Get rekt, gainers. Can't pay taxes if you don't make any money.

i traded all my ether for cryptokitties and set them free in the wild, sorry but feral kitties are not taxable go fuck yourself.

irs.gov/pub/irs-drop/n-14-21.pdf
>A taxpayer generally realizes
capital gain or loss on the sale or exchange of virtual currency that is a capital asset in
the hands of the taxpayer. For example, stocks, bonds, and other investment property
are generally capital assets.

Just a typo m8

>"for all intents and purposes, I have turned bi"

Kek

yeah have your accountant show me how to track my trades from coinbase to bittrex to binance to cryptopia to jaxx to atm to hotel to prostitute to bleach & garbage bags

No one except boomers are going to report crypto trades. It's ridiculous they even want to tax crypto-to-crypto.
Do they expect teenagers to seriously report they made thousands of dollars trading? It's not happening.
I give it two years before the IRS gives up and the US declares Bitcoin a currency.
Out of the millions of people in the US that trade crypto, there's no way even 1% will report it ANY year.

Kek.
Bi-coastal

the way he wrote is like he wants your credentials

That is exactly what is going to happen, boomers will set the precedent, and everyone else will be the left dealing with audits for the next 10 years.

how would the taxman even know all your trades? are they even literate in crypto? maybe there are some job opportunities for us

The IRS is going to go through my Binance account to find out where I got more XLM?

JURISDICTION?

Is my spank coin considered a daily utility?

>"Please let me know if you've trade any"

definately not an English major.

>me no trade only BOT is trade 375 time a month but no me no traded.

They don't have to prove anything. That's 100% on you, and if you can't prove it, they'll fuck you.
I'm from Germany and we've had this 'taxable event' bullshit for years now. I payed taxes on the amount I cashed out and they demanded prove where that money came from. Yes, I had to look up my entire trade history. Because otherwise they would've assumed I was trading on a 0-cost-basis.

Shut UP DAD omg!

>tfw your accountant comes out in his happy new year email

your faggot accountant just trying to keep the shekels flowing in

I think this whole shit is retarded and will be a nightmare for both accountants and the IRS.

See, it's not just about taxing your trades. These fucks are actually going the have to calculate the value of BTC/ETH/LTC/USDT or whatever the fuck you were trading against at that exact moment to know whether you made a profit or loss.

Who the FUCK is actually going to sit there and look all this shit up hundreds or thousands of times?

Just dont report it, pay your income tax and if they audit you just say you were confused about the law, my bad. Then pay them.

Youre not going to go to jail. There is just a less than 2% chance you might experience a months long headache.

People freaking out about the irs...jesus. An audit isnt the end of the world.

Pussy
The days of le epic hodl are over
Grow some balls , you have to follow what coin is popping at the time. And trade the top

Other wise you are left holding bleeding bags, prove me wrong? Every coin that moons just goes right back down, sometimes lower

Its extremely easy to get that data. It is just a little time consuming to export it and transcribe it.

tfw they already do this but to a vastly larger extent with other assets that have a ridiculously higher volume than cryptos and it really isn't a problem for them to do so

with the level of brainlets here I wouldn't be surprised if Veeky Forums literally told the IRS "yeah we knew it was illegal but did it anyway" openly when being audited

sure they will pussy
I aint reporting shit, no way in hell i am going through hundreds of decimal transactions

It would be a nightmare and i won't get in trouble either. It won't be known, while you waste all your gains for the jewman

AHAHAHA

COMMIEFORNIA BTFO, gotta pay for the illegals goy

Where the hell is it "extremely easy" to export data on an asset who's value changes every fucking second?

>tfw half of Veeky Forums will not pay taxes on crypto and get fucked
>tfw those that do get away with it will probably not pay taxes on income or other assets
>tfw half this board will get fucked for tax fraud in their lifetime and we will get a new influx of pink wojacks "WHY WHY DIDN'T YOU GUYS TELL ME?"

>2018
>Paying Taxes

this
once uncle sam realizes the hole he has dug himself in
shit will change real quick

I'm going to laugh my ass off this time next year when people are getting fucked by the IRS and asking on biz what to do like a pussy.

People seem to think there is some sort of irs death squad going around and putting bullets in people who accidentally misreport their earnings.

I get the feeling a lot of newer Veeky Forums posters came over from /pol/.

Yes the irs are your enemy, but they have rules and arent allowed to fuck people over suddenly and for no reason. Its contrary to the business model.

Doesn't sound like a competent accountant. Each trade incurs a fee, which is deductible, along with tax relief for business running costs, electricity, software licensing, home office use (rebates), deductible hardware/comms costs. You can only pay tax on what you make a profit from, and that is the bottom line.

>so I can walk you through the process of retrieving the info
>mfw I've made over $200,000 trading ELIX on Etherdelta with ETH addresses that I don't even have the private keys for anymore and whose records don't even exist and then shoved most of that into Monero via Shapeshift for the bull market before cashing it out through my family abroad who pays for all my shit and "gifts" me cash
>retrieving the info
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA These people STILL have no fucking clue what they're dealing with.

Historical data exists for prices, and even if it didnt your "best guess" is acceptable. Stop freaking the fuck out lmao.

Paying the tax man is just part of the rite of entry into playing with big money.

You don't get it, do you? They'll make YOU put together all the trades. THEY won't. They don't care that it's impossible. You either do it or they fuck you. That's all there is to it. All of you 'hurrr, I'm too cool to pay taxes' faggots here are going to be fucked in the ass so, so hard in 2019. I'm looking forward to it already.

That's basically money laundering. They'll just assume you're a criminal if you can't prove where the money comes from. Have fun.

I mean I don't really know about the USA, but what you suggested would work fine here too. But if you straight up told them you were trying to deceive them there's a good chance they'd get the police involved and take their money anyway. That said taxes are far more reasonable here, which is interesting. I'm also not a /pol/tard, in case that somehow matters.

My man all you do is enter your best guess for the value and date of the trades and tweak it till it sorta matches the end result. IF you get auditted.

Its not even a clusterfuck or a big deal. The only thing that matters to the chucklefucks at the irs is making 1+1=2

"historical data" is meaningless unless it's literally down to the second of the trade. Bitcoin can and has fluctated over $1,000 in one day, multiple times over.

If these calculations are not made to the exact second of the trade it's anyone's guess as to whether you actually made or lost money. You could literally lie your ass off.

this lol

even if you have made money have fun enjoying it lifestyle wise when you get done for tax fraud, idiots.

>that's basically money laundering
Sir I just received nice Christmas gift and rent payments in my time of unemployment. I don't know what Bitcash even is sirs.

It doesnt need to be exact you goofball. If you want to work yourself up into a frenzy though, be my guest.

>my man just pay your taxes bruh it doesn't even matter
Did you miss the point of my post?

Im going to really enjoy Veeky Forums around march/april.

>it doesn't need to be exact

if they didn't want it exact then what the fuck is even the point of making a law that says all trades are taxable?

Good luck with your 'durr, I'm stupid' tactic. Won't work, they'll fuck you regardless. If you can't prove the source, you're a criminal, and that's all they care about.

Yeah I understand that you think you have found a way to tax evade kek.

Everybody thinks they are really clever about this stuff right until the letter arrives in the mail.

Americans are such poor bastards. They always get fucked hard by themselves.

Its going to blow some minds when Veeky Forums figures out why Dec 31 should be an important day for them

Anyways stop freaking out, everything will be fine. Export your trade data occasionaly and keep it safe.

They don't get it, don't waste your time. The'll just think you're working for the IRS or something. This board is full of

>an irs employee will actually sit down and audit my bittrex transaction history from 2014 onward, calculating taxes i owe on buying dogecoin at 23 sat and selling at 26 sat
not happening

They cant be just treating crypto like stocks, with stocks you have to go stock>fiat>stock with crypto you can just trade stock>stock

>if you can't prove the source
I just told you. The source is my family abroad sending me gifts, which is true. I received a lot of money non-crypto related this year which was genuinely just gifts.

A gift is a gift and I can prove that I got it as a gift so I'm not sure what the fuss is.

No silly, its up to YOU to do that if you get auditted, and if you dont/cant/wont then you go to jail :D

this god i wish i could slap the shit out of some of these cucks

You morons, it is near impossible to calculate the ratio of my trades a year ago compared to Eth at THAT TIME

Not to mention all the Eth trades are in decimals making it that much more annoying

THEY WONT BOTHER
YOU HEAR ME KEKS? RELAX, pay them some of your profits like a good faggot and it'll be done with

He gets paid for his time dickhead

By the way - you have to pay taxes on gifts as well over a certain threshold. I think it's 40% from $14k up?
And also, your 'strategy' doesn't work. When you tell them you got 200k from your family, then the next step will be to ask the family where they got it from. And once the trail stops you're fucked.

well lets see ato in all of their splendour then

This is the reason why I feel like there's no point in even making all these small pocket money swing trades in this bear market because then you'll have to worry about paying some bullshit tax on that .04 ETH i made at fuck knows what Fiat price it was 8 months ago

I'll continue not to care about this LARP and wait for my bill if they're so inclined.

How can you even find your bittrex transactions? Mine were seemingly wiped.

>he thinks the IRS doesn't get outsmarted by dozens of millions of people every year

>not using your overseas shell company to trade with

So lets say I make 1 trade and profit. Now I make a 2nd trade but its a different coin and I lose more than than the gain from trade number 1. Do I pay taxes?

Then I guess you're fucked?
In the end you have to see this like any other business. If you start trading ANYTHING, you're obliged to keep records. If you don't, and they find a miscalculation you can't prove, you're going to be in trouble. This will be completely irrelevant for people doing small gains, but if you actually reach millions and want to cash out, you better have those records ready.

>you have to pay taxes on gifts as well over a certain threshold
Oh, so you have no idea what you're talking about, at all. Good to know.

The gift giver (in this case living abroad in an irrelevant country) pays the taxes, not the receiver.

>once the trail stops you're fucked
No dumbass the trail stops when my story makes perfect fucking sense and my Asian family may as well have given me their savings. If you think they'll dig deeper than that into a bunch of foreign non-citizen non-resident non-USA bank accounts to find where that money came from, all the way back further and further you're delusional.

A gift is a gift and the trail stops when my perfectly reasonable, plausible story makes sense and the explanation no longer arouses suspicion.

Just use somebody's else account on an exchange then move in monero transfer it to yourselves and boom you made no trade just pay your normal tax

Yeah, good luck on not getting audited. I want to see you continue acting high and mighty when the taxman knocks on your door.

I did last year.

You know there are programs that do that for you right? You download your csv file off the exchange and drop it into the website. Automatic, now calm your angry tits.

>anyone who thinks they can outsmart the IRS is lying and anyone who claims to have done so is a larp!
Oh look it's this thread again

Why the fuck do you faggots bother talking about this if you're going to post the same
>lol I don't even care what you're method is for outsmarting them, it won't work you can't win haha cause I didn't win and nobody wins

If you paid your taxes in full you're a fucking idiot and you can rationalize it all you want.

>Good luck not getting audited
I have fake proof of literally everything claimed as gifts and I have every single receipt I've ever received for anything for the past 2.5 years in envelopes. My records for this are impeccable. Bring it on.

You think regular traders will get audited when Tether which has 2 trillion dollars supposedly still hasn't been?

>You know there are programs that do that for you right? You download your csv file
I'm having trouble finding this option for the 500 Etherdelta addresses I traded with last month and then threw away the private keys for before sending it all through Shapeshift.

Can you help me?

Please respond.