Crypto Taxes

Can someone explain taxes to me?
Is it true by being taxed every trade you can lose all of your profits and even most of your initial investment?
What is the tax rate per trade in the US?

Other urls found in this thread:

exhentai.org/?f_doujinshi=1&f_manga=1&f_artistcg=1&f_gamecg=0&f_western=0&f_non-h=0&f_imageset=0&f_cosplay=0&f_asianporn=0&f_misc=0&f_search=locon kaname english&f_apply=Apply Filter
exhentai.org/g/662794/3bf64832c2/
reddit.com/r/hentai_irl/comments/5w73k9/how_to_access_sad_panda/
nhentai.net/g/103558/
yaoihavenreborn.com/doujinshi/kaname-02-english
mobile.nytimes.com/2018/02/02/technology/cryptocurrency-puerto-rico.html?smid=tw-share&referer=https://t.co/GmRa4NbFYf
twitter.com/AnonBabble

>kaname
nice taste

You only pay on your gains. 25%

If you lost on a trade you don't pay shit.

can you link the exhentai link

I wish this taxed every trade meme would die, its really old

look up cost basis

coins held over 1 year are long term capital gains, 0-20% depending on tax bracket

coins held under 1 year are short term capital gains which is taxed at your income rate

capital losses offset capital gains

the only way you can get fucked is if you made a profit in 2017 and did not cash out for taxes before 2018 and the market crashes

Your capital gain or loss is calculated by "FMV-Cost Basis" at each trade. Your capital gains and losses are summed up at the end of the year and you pay short term capital gains which is the same rates as income tax, or long term capital gains if you held for over a year.

It's possible to lose money from taxation if you had a capital gain at the end of December 31st and then you lose your money to a crash in January because you didn't cash anything out for taxes.

Sites like bitcoin.tax and coinmarketcap automate the FMV- Costbasis calculation for each trade.

ITS A TRAP !

How much ETH do I need to get a girl like that?

exhentai.org/?f_doujinshi=1&f_manga=1&f_artistcg=1&f_gamecg=0&f_western=0&f_non-h=0&f_imageset=0&f_cosplay=0&f_asianporn=0&f_misc=0&f_search=locon kaname english&f_apply=Apply Filter

enjoy

damn just found it through reverse image search


exhentai.org/g/662794/3bf64832c2/


seems like a good fap

.5 ETH for short time
1 ETH for long time

>girl

YOU FUKCING TRICKED ME ITS ONLY A PANDA

>caring about gender

reddit.com/r/hentai_irl/comments/5w73k9/how_to_access_sad_panda/

nhentai.net/g/103558/

I stopped caring a long time ago user.

also here is non hidden version

yaoihavenreborn.com/doujinshi/kaname-02-english

Or you move to Puerto Rico who is making a Crypto-Utopia, pay less taxes and fuck the government in the ass while helping build that country back up and without losing your US citizenship
You can thank me later...
mobile.nytimes.com/2018/02/02/technology/cryptocurrency-puerto-rico.html?smid=tw-share&referer=https://t.co/GmRa4NbFYf

US slaves have to pay taxes even when not in the US.

Has anyone actually paid their taxes or have you all been cashing out on localbitcoins?

They should have read the small print. If it's an investment you acquired while in the United States and you were a non bonafide Peurto Rican resident US citizen for any of the 10 years preceding the sale of the asset, none of the proceeds are considered to be realized in Peurto Rico. It'll be taxed as if you sold in the US. They're going to be so fucked when they realize this. They're going to have to stay there for 10 more consecutive years and hold the entire time in order to cash out tax free.

IRS Publication 570 is my source for this btw.

>that hat

Why does everyone think you only have to pay tax when you cash out? You have to pay on trades.

>Cashing out at all
Why?

I don't want a real job.