COINBASE TREATING WITHDRAWALS AS SELLS!

>post yfw the first deadly act of crypto-terrorism occurs this year

LUL
AMERICLAPS

Are transaction fees treated as sells? Technically you're paying for a service from miners.

Many people with small holdings paid >10% in fees just to transfer.

La creatura

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The USD value of your crypto was calculated and logged at time of transfer from the exchange. Fees were not included according to my form.

Yes but if are looking to contest that they are probably going to audit your on-chain transactions.

Here come dat lawsuit
Oh shit wadAAAAAAAAA

>did arbitrage
>coinbase reported over $3 million in sells to the IRS for me due to all my withdrawals
If the IRS tries to say I made millions I'm going on a murder spree. I only have $160k total.

No really. If a government or private organization threatens people's future like this, eventually they are going to piss off the wrong person, who more than likely has disposable income if they are playing this game.
Maybe that's the plan. Push and push and push until finally somebody snaps, and then they use it as a reason to shut it down. Fuck, they could just false flag it easily enough.
One fel swoop and all crypto-traders and users painted with the "possible terrorist" brush, because one guy was tired of being stolen from and exploited.
I see plenty of absolutely insane little fucktards screeching in telegrams and discords, and if just one of them decides the fud really IS government coordinated, and that the taxes really ARE designed to fuck him over, and that his losses ARE the fault of the gubmint...
Oklahoma City 2.0, or at least something ramping up to it, that will be busted and shut down by the ever-trustworthy FBI 'just in time'.
I can easily imagine a psycho jackoff deciding enough is enough, and that it was the US gvt that took away his one shot at being financially independent for good.

media.giphy.com/media/Vg0JstydL8HCg/giphy.gif

mfw people are actually paying taxes on this and not just hiding it/ selling to locals via cash

>media.giphy.com/media/Vg0JstydL8HCg/giphy.gif
mfw u post a fucking link on an IMAGEboard

Hold on hold on, you don't know?

Americans get taxed EVEN ABROAD.

Make sure u go to coinbase hq and leave the rest of us out it

I saw all of the reddit threads where people made a loss but now have to pay 10s of thousands in tax. Good stuff.

Yep and even if you renounce your citizenship they give you a nice big exit tax

is this legal? how the fuck can they consider moving your money from one exchange to another a taxable event. Imagine if every month when my bank charged me a monthly fee on my account I had to report it as a taxable event

good thing Im not an amerilard

My co worker got taxed on every trade his bot made on GDAX. It was thousands of trades. He ended up only profiting $500 or so but Coinbase claimed he profited $240,000. So he's figuring that one out.

we prefer to be called ameriblobs

>put money into cb
>withdraw it
>gubment now entitled to tax it

brokers only report the sells, it's your job to report the cost basis of each trade. he'll only pay taxes on the $500.

this will probably fuck up crypto more than anything else, at least for americans

This.

>Post a lie with no source
>Veeky Forums brainlets believe it

>Buy at 1k
>Withdraw, $9 fee
>reported as a $9 loss

Why is this a big deal? Crypto is considered property under US law.

Moved less than 5k through Jewbase. Safe for another year.

Top FUD.
But believable course of action.

From now on use unverified, shapeshift and Monero and trade on DEXs burgers.
Expensive entry... I know.

My guess is US will force exchanges to only accept and verify burgers only if they can deposit $10000 on an exchange to trade.

Like they did with the 25k day trading stock market rule.

Bitfinex already has that rule for all new accounts

That is just the sum of his sells, mine came out to around 300k also, you balance that against your buys to determine your gains.
Coinbase doesn't file your taxes, you do.

I put 15 bucks of btc on coinbase. they gonna tax that? heres 1.50 you cockroaches.

This is the most advanced FUD I've ever experienced

My stomach literally dropped until I logged in to coinbase

10/10 OP

>yes, and you are going to jail for illegally downloading mp3, ISP logs all your torrent downloads

IRS can't do shit if we all collectively disobey, unless IRS is willing to prosecute millions of people

if your a wage cuck of average income it's atleast 25%, so that'll be 3.75 dollars goyim, pay up.

That's it I'm moving my 2.2 LTC from those kikes tonight.

TAXATION IS THEFT

Why is Trump letting this happen?

This isn't real Is it?

A sell for a loss? Sounds good to me.

Oh sweetie it is real, the IRS will always get their due and thanks to a law obongo put in place the exchange is obligated to report you.

The new rich will march on Washington D.C.

Maybe literally, maybe figuratively

Obama era law. Same one that was applied to paypal.

Dude what! You might actually be fucked holy shit. Capital gains are unlimited, capital losses only 3k a year.

lol dont be idiot cucks

band together

the IRS does NOT have the manpower to enforce and investigate blockchain activity.

and you don't think they can write a bot in the next 7 years to do it?

Besides they are after big dogs. Wasn't it suppose to only be a tax event when you cash out?

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coinbase hq please but miss charlie lee

fuck this is too realistic

7 years of tax-evasion

sounds good to me

al capone couldn't outrun the irs. you can't either.

>Oklahoma 2.0
God hope that happens at the IRS building in D.C.

They want you to keep your bitcoin on their exchange.

Burger here
>paying crypto taxes

Also i didn't get any email or anything , GG
Holding and not cashing out and not paying a dime WHEN i do cash out

Better start practicing some of that sweet sweet cellmate love.

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