Who else probably going to jail for taxes

Living in Netherlands and pay max 1% taxes. Below 25k not even paying taxes
/Comfy/

>buy btc
>lose all of it in shit trades
>get taxed for buying btc
>go to jail for not paying taxes on lost money

I haven't had a job in 4 years or paid any taxes since. I wonder if they'd even bother with me.

Declare bankruptcy.

Never try to be a part OR help society ever again.

locked up amerifats so that can't panic sell... sounds good

just buy TEL and hold look how fast it recovered sats

I only reported my coinbase tax forms but that's all you need really since it's all I used to put in/out fiat right? all the random exchanges barely make up 10% of my 90k usd in earnings.

Trump will give everyone a pardon.

are you alloud to watch anime or read manga in jail?

het leven is geweldig

If you want to be raped, go ahead.

Yeah but the ai will figure it you made this post when the time comes so ur fucked in the ass even harder admitting to trying to play dumb

DELET THIS

Prison is NEET paradise senpai, just go for it

will you guys stop being brainless faggots for once?

source: random reddit post

but anyho, on most exchanges (binance, bitfinex) you never trade your crypto for USD, you trade it for USDT (tether)

also the 3rd question is worded in an extremely dumb way.
if you just incur a loss, you can deuct up to your entire crypto gains PLUS $3000 on your gains from other (non-trading) incomes

tax evasion is a federal crime so they dont send you to county jail where the rapists and murders are. in federal prison its actually pretty nice. its all white collar crime people.

>Go to jail
>Meet like minded /bizneetmen/
>???
>PROFIT

just under report and then pay the tax bill when it comes with all your profit

>tfw remember sending btc to bovada from bittrex

Man i voted for Trump i hope he helps a nigga out

wait for the audit and hand them thousands of pages of transactions

Don't think so but big Tod will get it for you user, he will get anything for his special princess.

>Do 5 years in the pen for not paying taxes
>My portfolio continues to skyrocket
>On the day of my release, IRS meets me at the gate to demand taxes on new gains
>Within 24 hours I'm back in my cell
How do I beat the eternal jew, anons?

I'm not worried, 10 LINK = 1 Cigarette, I'll be running that place in one week.

Shkreli is that you?

Ok I´m kind of captain for this for Europe: The main problem is not to declare the tax itself. The main problem is, that you have to proof your trades. In most european countries (expect Estonia) you have to have some kind of paper from the trading plattform you used. The Exel Sheets that you can download will definetly not enough - becaus they are not proofable that they are not changed. I made with my accountant before I started trading the agreement, that I make screenshots of every trade I made. Even that is not a real proof, but better than nothing, and when the tax man comes and tries to rape you, but you offer him a coffee and explain everything with the screenshots it should be fine (I hope).

eject them into outer space so we can finally be done with them once and for all

Serious question, when swing trading what percentage of gain should I have to make before selling to feel comfortable I can pay the tax from fiat to coin and back out or coin to coin and back out and still have profits

In the u.s btw

Tax is a percentage of whatever profits you have. It doesn't matter what your gain is. You must pay the tax regardless if you have 1% gain or 100%

>He thinks the IRS actually has any power
Pro tip: the IRS can't actually arrest you

...

THE ONLY ANSWER TO 1984
IS 1776
youtube.com/watch?v=xihzgEsV2nw

Anyone have an answer for this? I only used the Coinbase tax form since Coinbase/gdax is the only thing I used to cash in/out.

Can only deduct $3,000 in losses oh God I'm fucked

So wait, exporting all your trades doesn't count as proof? The fuck do they want then?

just edit the screenshots in chrome inspector...

If this was the case I'd check in and never leave
>Tyrone won't sodomize you if you lend him vol 3 of Berserk
Sounds magical

>Show them 5 screenshots starting from $600.. Last showing $60k
>Wow you're really good at buying dips and selling the peak.

...

There may be enough of us to gang up. The Cyber Punks or something like that

So.... If I lost a ton of value due to retarded trades am I scott free?
D-does the IRS owe me money for my poor c-choices?

Yes. If you fill out your tax return correctly, you can expect a big check in the mail. Use it to reinvest in crypto, of course.

Jesus you dumb fucks. Worse case scenario, the irs sends you a letter saying you owe them money. You only go to jail if you don’t pay them (for like 5 years) or intentionally try to hide money from them. Just hire a cpa and have them take care of it. If you owe money, file an extension and you won’t have to pay till October, when the market will have recovered

They say prison in America is Criminal College, but I'm sure Veeky Forums deserves this title...
>The Cyber Punks
Sounds absolutely rad, user. How do we keep the normies out though?

How retarded can you be? Income tax from your job comes out of your wages dumbass, all civilized countries have some sort of capital gains tax.

Nice, just lost 100k

I am the only fucker here who intends on paying his taxes?

Crypto is basically free money. Stop being greedy.

Thank you for your wisdom, user.

>Go to jail for tax-evasion
>IRS never found your crypto-stash because it only exists as a paper wallet and you've memorized the keys
>1 XMR now worth 100k
>Own 200 XMR
>Buy drugs for the whole prison for 0.1 XMR
>Everyone respects you
>Have access to laptop and smuggle in a SIM-4G internet connection with VPN
>Chill with your niggers and live free of expenses while your crypto continues to grow

I'm not sure how the third world works, but the excel spreadsheets should be fine. Obviously they can be edited, but you can edit anything on your tax returns to say you made zero dollars and have to pay zero taxes; that's literally what tax evasion is.

No, it's a percentage of your gains on each trade. You can deduct 3000 total in losses from all your crypto trades but any more and you're fucked.

I wondered about this also. It seems that even if you put forth a legitimate effort to document your trading, crypto by design will lend itself to be exceptionally malleable. What is going to happen with an explosion of dex's, atomic swaps, and privacy? How do I legitimately verify exported shitcoin trades from fucking yobit for christsake?

>say nigger in prison
>get stabbed

>4G
We're going to 5G decentralized networks soon enough. Enjoy 500 Mb/s down without a wire.

Fuck this shit.

I'm not going to pay a dime.

I cash out my gains in offshore bank accounts.

I'm German and cash out in US Banks

lmao

du wirst hart gefickt brudi

Simple. they're going to have to give up on this taxing every single trade bullshit and just instate a simple flat tax of 20% when you cash out.

>Steel toilet
Jesus do I not miss that cold rectal abyss

>Amerikeks have to pay takes on their traded internet tokens
>go to prison if you don't pay taxes on your profits from trading funny dog tokens

What a fucking joke of a nation.

actually I already had to deal a lot with the tax authorities because I have a few shops. Everything that is not profable is for them a reason to rape you. Sorry guys - but it is like it is europe.

Dieter Hoeneß tried the same ...

and that's why they cannot tax it the way they want to.
Only when you cash out on a verified exchange to FIAT
>inb4 hurr no, you will see
yea we will see, I guaran fucking tee you the IRS and all other tax agencies around the world will switch to the simple taxing when cashing out to fiat, because otherwise they would spend more money tracking and checking all the reports than they would get from taxes itself

no they track nothing - for example when something is not profable they have the possibility to estimate your gains. That doesnßt sound that bad, but actually it can get really really bad. They know you didn´t made in every trade a gain. Normaly you could offset your losts to your gains. But Not when you cannot profe your losts ...

I've said the same thing. I really don't get people freaking the fuck out on this. If you pay your taxes correctly, or at least make the attempt, the IRS isn't going to come throw you in jail.

I work several jobs and had a lot of W2's. I forgot on one of them to report it (about 10k) to the IRS. They just sent me a bill for the missing taxes on the 10k. Had an option of fighting it or accepting penalty (which was the correct and accurate thing).

Now if you just report NOTHING, like absolutely NOTHING and you made money and cashed out to FIAT, then yes, you are screwed.

in this case you would have to pay a tax to every gain but your losts are your personal problem .... that is when the tax men really want to rape you

but yes normaly they are normal people and when you treat them not like an enemy they will accept the excel sheet from your trading plattform

>implying the IRS knows about your stack unless you're a top tier retard

im just gonna not pay the taxes, and when the feds try to fuck me i'll set up a gofundme

dude I don't know what country are you from but they either accept simple excel sheets from exchanges or they can go fuck themselves.
Your screenshots can be easily modified with inspect element, what else are they gonna do, force you to log in at a gunpoint?
just make sure they won't casue any problems BEFORE you even think about cashing out.
I'm gonna research it more when I make it, I will contact lawyers , accountants and all that good shit to make sure I won't get assraped, If they tell me that I would actually get assraped I'm "taking" all my coins to a country that is not retarded. And trust me there will be countries trying to profit from taking all those freshly made millionaires in to boost up their economies.

Fucking kikes, looks like those relentless bastards will never give up

>Hurr durr The IRS didn't say crypto was excluded from like-kind exchanges in 2008 therefore it could be like-kind.

Naah nah nah, we know for sure we can't use like-kind now.

kek

actually I know this about a least 4 european countrys that they can persist on some papers from gdax, binace and kucoin- Poland, Germany, Italy and Spain. But probably in Germany the will try to anal probe you and in Italy the guardia de financa are fine when they get a grappa ....

Protip: Fill your ass with sand so they don't rape you.

Capital losses are generated if you incur a loss when selling a security for less than you paid for it (or buying a security for more money than received when selling it short). If you've experienced capital losses, you should be able to deduct (or write off) those losses, up to the amount of capital gains you earned this year. If you experienced more losses than gains this year, you could additionally write off up to $3,000 of losses beyond your offsetting gains. If your remaining capital losses still exceed the additional $3,000 write-off, you could carry those losses forward to the next tax year when you could take off another $3,000 deduction.

What this means:

If you bought an alt coin for 10k and saw 50k in gains, then sold, you pay 40k in taxes.

But If you turned that 50k and bought something else that went down to 10k, you pay nothing.

Now if that 50k then goes down to 5k, you can write off 3k as a 'capital loss'. The 2k that you lost is yours to just eat because you suck.

It's that fucking simple.

Now yes, on December 31 if your account was at 50k and now you're at 5k, you owe taxes on those 40k in capital gains (if you day traded).

But if you bought, lets say Monero, and didn't touch it, no you don't owe anything because it's a long term hold (as long as you hold it for 365 days).

Say "Hello" to your new cellmates

It is worded weirdly. You can deduct all losses against your gains in the same year. Up to 3000 can be deducted against overall income (if you lost more than you gained that year) and a 3000 deduction can be carried over to the next year.

I'm from one of those countires and I haven't heard any crazy stories, but I also haven't researched it so far.
Like I said before you cash out any fiat from an exchange to your bank, make sure with a lawyer/accountant that everything will be ok. If they tell you it's risky and the government may throw a tantrum just leave the country and go somewhere else with non-retarded tax policies

I will tell in the next year - probably I have an regular audit next year (mostly I´ve got ever 3 till 5 years)

There's no computers until you get out to a halfway house
Niggers like conspiracy books, get some of those too.

Don't call yourself a punk in jail, it means sex slave. Goddamn u fags not gonna make it

Yeah pretty much. Unless you get audited then they might want more.

stabbed lol you'll get your throat slit and not just by the black people