Lol

>Sell 15k worth of BTC
>Counts as a trade
>Get raped again for that trade the following year

>cash out
>buy back in
why

FOMO user

But he didn’t earn anything. He sat on his ass, and thinks that he is too good to pay taxes.

What if you just say you went all in on BCC?

What if he steals them from himself with XMR?
> But the IRS will find him and fuck him
Not the question, I'm asking if he would have to still have to pay in that situation.

Taking a risk is still something!

That is what happens when you bend over and allow the government to fuck you in the ass instead of using the fucking coin as a CURRENCY and being free forever.

how2larp 101

Yes, you made money in 2017, lost it in 2018. Nothing that happens in 2018 affects taxes incurred in 2017

it is, and he will still be 5k in front

LAND OF THE FREE

you must find the balance

I'll be paying capital gains tax this year (.au), thankfully it is a lot saner than the US. Still it's a big bill because I made $500k this tax year

>tfw I have an $180k and have literally never incurred capital gains, even crypto-to-crypto, since I always bought by buying BTC/ETH/LTC with cash and immediately selling for whatever coin I want

more sane how? we're pretty much the same rules as the burgers user....

Nope, don't get hit with per trade fuckery, just pay tax on realised gains

Why do Americans use the calendar year as the tax period instead of the financial year?

nice "investments" you got here lads lmao

just simply don't cash out more than you're going to spend then?? in norway you just notify the taxman how much u cash out, and you get sent a bill with 23% of the gains cashed out

I think you better look through the ATO website user... we certainly do get hit with per trade fuckery, realised includes shitcoins

Holy shill. Thank fuck Bonglandistan has at least not having to pay tax until you cash out going for it.

his fault he told the accountant lmao

Lmao @ los creaturas d'americanos

In NL we just pay 1.2% if you've got over 25k net. Under 25k is no charge

Why not just selling on localbitcoins? Sure you run the risk of getting murdered by some gang but I would rather die than pay 35% taxe

>he is registered in a country with capital gains and income taxes
How fucking retarded can you possibly be.

Either he lives in a communist utopia like Europe or he has a really bad accountant.

What the fuck are you fucking idiots paying taxes on crypto for holy fuck its like you enjoy being cucks to the government. Like you get your kicks from bending over voluntarily for the irs to assrape you like you get off on it or something holy fucking jesus.

Just sell on localbitcoins or claim you won it on bustabit i mean jesus h fuck.

Because I'm not a criminal? Take your libertarian wet dreams elsewhere

Criminal is charging 35% fees
Localbitcoins for life, cuck

>bustabit

land of free makes you pay taxes on gambling winnings as well
AHHAHAHHAHAHHA

I legit thought all these tax discussions were just a big troll I had no idea you guys were actual fucking cucks like this.

When you go start/buy a business with your crypto gains you're going to be paying company tax, then taxes on your dividends, then you go to spend it and there's sales taxes and the ride never fucking ends.

The point of BTC is it's out of control of the government. You cucks reporting your gains and paying accountants to make sure you get thoroughly assraped by the IRS.. it's just sad, it really is.

I didn't know that, that's not even funny that's just sad man. I feel sorry for you burgers.

I'm glad the US dollar is about to crash and their government is about to become insolvent. Good riddance to bad rubbish.

let's say you sell on localbitcoins, how are you ever going to spend any of your gains? the fucking government is going to ask questions when you buy shit worth a fuckton of money. And how do you explain 100k deposits in ur account?

No wonder burgers have such weak hands. They're constantly scrambling to cash out to pay their tax bills. Fucking kek.

>I'm glad the US dollar is about to crash and their government is about to become insolvent

The US becoming insolvent means the rest of the world will be insolvent. It won't be good times for really anyone on the planet unless you're off the grid

Just use cash, no bank accounts here

He did cash out. He just bought back in right after.

doesnt fucking matter if you're going to PURCHASE EXPENSIVE THINGS?? lets say i buy a fucking car worth 50k, in cash. the government is going to ask questions when it gets registered to your name when you havent reported any income that suggest u could buy a car

I'm not poor so 'just use cash' doesn't work, at all.
I have no problem with paying taxes though, I don't always like how they're allocated but the people need gibs man.

>just use filthy fiat! take THAT stupid goobermint tax man
the absolute state of libertarians

So you cashed out user. Why

No they fucking aren't. I put the money in my account and I invest it or I buy shit. What part of that is complicated?

Does the US government seriously track all your money and come and get you if you spend a large amount on something? How sad is that i mean that's really something.

Exactly. Like I said, they get a kick out of bending over for the government. They are literal cucks.

Opposite is true. Your third world country is holding the rest of us back, sucking up all the capital into T bills/bonds that will be either be paid with hyperinflated dollars or not paid at all.

You aren't the engine of the world economy, you're the caboose. We cut you loose and the train goes faster.

I fucking lold your government actually controls your life this much. You realise this isn't normal? That you're living in some kind of communist/socialist country if this actually is happening?

If that happened then they couldn’t rape us as hard enough during Christmas time

I found a bullion dealer that takes BTC. Walked in, traded my BTC for a bit of gold and a lot of silver, walked out. Simple as that.

Holding waiting for the US dollar collapse and the paper silver market to fold, with all the increased demand from desperate burgers trying to trade in their rapidly depreciating monopoly money it should be a nice increase in value.

i bet that is wrong

I can't post wtf. Test

i'm not from america, but this is how it is in MOST civilized countries. They come looking when big purchases are made, especially when you don't have a job that suggests that you can go spending. Norway btw

You don't pay taxes on every trade in Europe. You only pay in the greatest country on earth America.

That’s awesome, how would you claim the gold if you ever cashed it out. Genuine question

>Does the US government seriously track all your money and come and get you if you spend a large amount on something? How sad is that i mean that's really something.

Yes, they do. Are you really this dumb?

You must be that guys accountant because you have no idea how taxes work.

I don't understand... even if they did come looking... what can they prove?

They can't see your BTC/Alt trades, they can't prove you had any gain on anything unless you hand it over to them. They can only get you on what they can prove.

I just sell it to anyone brah. Advertise on ebay/gumtree and meet in a bank and sell it for cash if i wanted.

If I needed to sell a lot to a bullion dealer, for all they know my grandma gave it to me, or I won it in a card game, or I've been taking out $300 a week and putting it in a piggy bank and buying gold with it. Or I won BTC on bustabit, traded it for gold and now am selling the gold. Any of a million ways my bro.

I'm not saying they don't. I'm saying that's fucked. They watch your bank accounts? Seriously?

You do not understand how this works

en.m.wikipedia.org/wiki/Currency_transaction_report

And they're still commies after that. Classic reddit.
>Corporations need to pay their fair 90% share, I should get off tax free
If you're not in Saint Kitts, Eastern Europe or SEA, I lol @ you. The west is a joke

>They watch your bank accounts? Seriously?

If it goes above a certain amount, the bank reports it because government regulations.

Also you have to pay your taxes. What do u think taxes are? Just another way to account for the plebbians money

AND THE HOME OF THE BRAVE.

Seriously if you can't outsmart this your fucking retarded.

Bullshit. Germany has the same law. UK has the same law. I'm willing to bet there are others.

Cuck kys. There is nothing more I wanna do than to smack the goofy out of you

Bitch ass, go to reddit

so I bought a fair amount of BTC and have it tucked away, holding.

got it from bitstamp, a polish company i think. If I haven't sold it, do I have to declare something?

Honorable mention to Chile.

No you don't

>They can't see your BTC/Alt trades
Unless you're living somewhere like Congo you're in for a rude awakening.

Not as long as you're holding it. The moment you trade it for fiat OR crypto you trigger a taxable event though.
Also - depending on where you live - you might not pay any taxes after holding for 1 year. Or maybe a reduced rate, dunno.

yeah u can outsmart it. You just need more money

>Retards pretending to be real investor can't get gains with having to pay taxes

>or I've been taking out $300 a week and putting it in a piggy bank

This is what I don't get as far as the tax collectors are concerned... if you looked at my bank history over the last ~10-15 years you'd see countless transactions where I've withdrawn $100-500+ from ATM machines, they have no idea where that money went. I've also done money transfers periodically to friends/family for payments or loans, again no one knows the purpose of this money besides me.

So then if I suddenly came into say... $100k cash, whats the problem? For all anyone knows I just squirreled away those ATM withdrawals under the mattress for the last X number of years, there's no way anyone can prove that's not the case.

>there's no way anyone can prove that's not the case.

until they knock on ur door and ask for proof. Albeit getting threatened with fines and prison time isn't bad imirite?

okay let's just continue with the hypothetical

let's say I transferred some of it to binance, and bought some Alts, how would they know?

Does binance send something to the IRS?

I can only tell you how it works in Germany. The banks are obligated to report any transaction over 14999€ to the Finanzamt (basically IRS). And they will start asking questions. If it happens once they will be cool with a 'I just saved that over the last few years'. If the sum is too high or it happens frequently they'll audit you. And no, they don't have to prove anything. You have to prove where that money came from. And if you can't they'll assume tax fraud.

your a fucking idiot, if you make payments that is more than 10k to the same place in a short amount of time they have to report you to the IRS.
say your are buying a new car from a dealer, you put 6k down, and pay 500 a month. once you hit 10k they have to file with the irs what you paid.

You were audited, they looked at your bank records, tx to bit coins exchange, ask for your bitstamp records

>cucks not using LocalBitcoins
They deserve it

>systematic

That's not the problem. The problem is that they know once you cash out. As soon as a large sum appears on your account and the IRS catches wind of that they'll demand a history of your trades. You are obligated by law to give it to them. If you don't they'll just fuck you without further questions.

>Does binance send something to the IRS?
yes

it literally doesnt change a thing, unless you're going to live by cash the rest of ur life and not purchase any big things.

Laughed my ass off.

Thats just perfect leftist mentality

>Ohh, I think ill vote for this welfare, illegal immigration, free infancide and keeping muderers alive in the jail system!
3 years later
>WHY IS THIS CORRUPT BOURGEOIS GOVERNMENT TAKING ALL MY MONEY
>AHHHHH WHY WONT ANYONE HIRE ME WITH MY 4.0 WOMAN STUDIES DEGREE
>AHH WHY THIS THIS COUNTRY SO RACIST, IM GOING TO MOVE TO A WHITER COUNTRY BECAUSE THIS PLACE IS A HELLHOLE

>it's like I didn't earn anything

That's the point. I have $15k cash out just in the last year. Can easily say I put $50k into precious metals over the last 5 years if they ask how I suddenly came into all of it.

You all seem to think the government is this all-knowing entity, it's omnipotent and knows everything.

They only know what they can prove, you cucks. And if you have any intelligence you have set it up so they don't even know about your cryptos.

No you autist you have this backwards, YOU need to prove it... You act like fucking cash rorts have not existed for all of time

And where did you get that 50k? Where's YOUR proof? THEY don't need proof, YOU do.

Apart from Belarus and Slovenia Eastern Europe isn't too good for crypto. Poland is devolving into a tax hell akin to its big brother, Estados Unidos de las Creaturas. Fuck those shitholes

Seriously so in the US you spend a moderate amount of money on one transaction and they actually make you prove where you got the money? And if you don't what, what can they prove? And you can't just say you won it on bustabit or dice or gambling or got it from fucking the milf down the street?

Oh wait i forgot, you have to pay tax on gambling winnings too in the LAND OF THE FREE

From my real job? They don't know / can't prove I spent my cash out on tendies.

Socialist scum.

How often do we have to spell this out for you? Once they audit you 100% of the proof needs to be provided by you. Otherwise you're just committing tax fraud. It's as simple as that. If you lost your proof, tough luck. Tax fraud. You WILL provide them the proof they want and when they check if everything's correct and there's a flaw, they will just rape your ass. I have absolutely no idea why you think that they need to prove anything. It's literally spelled out in the regulations that it's your job to keep track of everything you do.

Where the fuck do you live?

You're constantly missing the point, they don't care where did you get the money from, if you don't have any proof on the origin of the money, they automatically assume you made the money illegally.

This is so fucked up. Didn't we separate from Britain to evade taxes in the first place?

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