Got a word problem for you faggots. If you aren't American shut the fuck up. I don't give a fuck about slit eye chinks, eurofags, or pajeets so fuck off. We rule the world and cuck you all.
Scenario:
1) Buy shitcoin on margin paired with BTC (usd value is .10) 2) Get liquidated two weeks later (usd value is .50) 3) Losing position and the exchange takes your other shitcoin collateral to cover the loan.
How is this reported for taxes.
Technically you bought something at .1 and sold for .5, yet it was a liquidation and loss.
If anyone can solve this legitimately I will compensate 10k to 100k.
Sebastian White
>whale >wants people to give him advice on things he cant work out
nice larp you sub 10k portfolio brainlet
Lucas Hill
If you were a whale you'd hire an accountant, retard.
Jayden Cook
It works the exact same way as buying stocks on margin
Dylan Perry
I've talked to 5 accountants they all brainlets and don't know.
Larp my dick in ur ass faggot.
Angel Wilson
care to elaborate?
Josiah Walker
> orange skin > no animu eyes > the bad kind of tit job > no ass poorfag with a shit taste in Azns detected
Blake Young
can you elaborate
Cooper Foster
When you are margin called the coins are sold and you are hit with gains tax. All of the sales are taxed as capital gains.
The loss is repayment of debt, and therefore cannot be reported as debt. So you are taxed on your gains and not forgiven anything for your losses since they are not losses but payments. Margin is dangerous.
Levi Watson
stay poor faggot
Caleb Bennett
cannot be reported as loss
Ayden Bell
What if coins were taken in your collateral account to cover the difference. I don't see how you can get margin called, pay interest, and owe tax.
Jacob Gutierrez
You can and do. It works the same way when selling securities to cover margin calls.
Jaxson Nelson
you were long shitcoin/short BTC. when liquididated, were still long shitcoins with a theoretical cap gain of +$.40 * you realized a capital loss in your short BTC positions which, when converted to USD would have exceeded your theoretical +$0.40 per shitcoin.
You should get a better accountant. Any hedge fund accountant could handle this in their sleep.
BTC 16J4GP7X9RkwjpQJ5LDzEvNUszPPqjmzWU
thx & rgds
Ian Bailey
Now what if this is slightly modified. I never actually got margin called. I just covered the position with a loss.
So lets say short 150 BTC when cover the loss the position pays for 125 BTC and I need to pay 25BTC out of my collateral.
How is this calculated?
Isaiah Ramirez
>can't even prove he has a 100k+ portfolio prove it fagboi
Logan Garcia
stay poor faggot
Easton Richardson
$ in fiat you have from the endeavor Minus $ in fiat used to buy
Pay gains tax on above
If negative then claim loss 0x5a05a2753a48410cf19922fd4b6f17a3e89fb4b3
Thanks user
Dominic Phillips
u stupid fuck this all trading on margin.
"endeavor" fucking robin williams urself pajeet
Owen Johnson
If you aren't liquidated and pay with BTC, not USD, then the taxes become grey. Nobody knows how to tax crypto payments yet. If you pay a margin call on coins with coins then you're in new territory.
