PAY YOUR TAXES YOU DICKS

I do know a shit-tier level admin at the IRS that told me they are going to "aggressively" go after crypto this year.

>you fuckheads are going to get all of us pinched
Confirmed never watched Fast and the Furious. Its called a scramble.

Let the fucking IRS come track me down. Id like to see those tech illiterate retard boomers try

>paying taxes
Fucking Communists

I sustained capital losses eat shit

>taxes
From my cold dead hands, statists.

>Only 300 people have reported their BTC gains this year
source?

>Binance is currently negotiating with the U.S. Government.
nice fud lmfao

99% of binance users don't have any ID tied to the exchange

m.youtube.com/watch?v=sYU_eDMr4xE

*gets arrested for money laundering and has all assets frozen*

heh, nice try kid

Crypto to crypto as taxable + exchanges that delete records after 90 days makes this impossible for people who got in and didn't learn about the tax implications for 90 days.

Full compliance is literally impossible for a good % of us.

>exchanges that delete records after 90 days
like what?

A n
U n k n o w n
A m o u n t
o f
M o n e r o
H a s
B e e n
F r o z e n

I've got until April

yup all that monero sure helped dread pirate robots from being caught ;^)

If they dealt solely in monero they likely never would have been, which is why dnm's are dropping btc and using xmr.

Monero was never traded on SR. Also if DPR used a brainwallet or hid a paper wallet somewhere, those coins were never seized.

I think he was mostly caught because of an email linked to his real identity, although yes XMR is much better. Not just for trading drugs, but also not getting stabbed by Taco Bell niggers who see your net wealth on the blockchain.

>muh brain wallet
that really helps him when he's stuck in a jail cell being raped by niggers, which is your fate too if you try to commit tax evasion for any appreciable sum as a filthy goyim

I tried calculating my taxes the other day and it is so fucked. How do I trace back which coins I was holding and how much they were worth at time X when I cashed amount Y? There's no easy way to do it. So I'm just giving the gov 15-22.5% for each cash out depending on how much I cashed out. Until they make an easy way to do this, that's all they're getting from me.

Come and get it yankee.

>FYI - Coinbase, Kraken, Polinex, Gemini have all sent your records.
How were they sent? Email? Fax? Fedex?

>filthy goyim
kys

The primary take away is its not seizable. You may die in prison and in his case he will, but they won't extract wealth from people doing this.

>go to bitcoin.tax
>import trade records
>add opening positions as needed
>add trades manually if you used a shit tier exchange that doesn't have trade export
>hit calculate button
wow, so hard

Enjoy the rape and AIDs lad!

This is why I only buy long term Hodl coins.
If I'm gonna have to sell/trade it in less than a year then I'm not interested because I want that big fucking tax cut.

Makes raking in crypto gains much simpler. Fuck all that day trading BS.

I'm not Ross, you absolute fucking retard. Nor am I breaking any laws. Way to completely miss the point though.

Hard pass for me dawg

I tried that and cointracking and the numbers were way off. They thought I had 10x as much I actually had.

>tax evasion isn't breaking the law
worse, it's breaking the law with ZERO statue of limitations and a public immutable ledger

Jokes on you I dont have any gains this year

>implies I'm evading taxes
>again missed the point addressing inability to seize digital assets

If you ever make 6 figures from crypto you will be utterly assfucked in any 1st world nation if you attempt to buy anything of note

Coins never qualified for like-kind. Please don't try to claim it user I don't want you to get audited.

In principle if you had perfect records and a taxjew who said it's ok it wouldn't hurt to try

in practice nobody in crypto has perfect records and taxjews won't sign off on it

I have perfect records.
I record all of my transactions in exact nature.
Fiat->ETH/BTC then again for ETH/BTC-> Other coins
I have recorded, filed and reported every transaction that I have made involving crypto for 2 years because I knew this would come up.

And what price do you use for USD $ of crypto trades?

There is no such thing as perfect records in crypto.

also hope you used FIFO!

According to legal requirements I recorded the price of the crypto I was trading at the time of trade (complete with proof of price and date AND time of trade).
This is not hard to do.

You probably do actually owe that much actually. Did you trade last year and take a loss in January?

How about Bittrex?

There's no law that says you have to use FIFO.

I paid my taxes. A lot of taxes.

>gains
haha

Srs what portion of turbo tax do you add crypto? That’s what I’m using and I had a hard time figuring it out
I only have Coinbase transactions

Anyone have sauce on the exchanges sending records to the government?

I need this for a friend

>not having plans to game the financial system
take a look at this abiding citizen

No, what was the fiat price/change in basis of say, your BTCETH trades

I checked, and they were counting my canceled trades as actual trades. At least cointracking did this. So I'm just going to give the gov what I said before and if they want more, then I'll give them more, but I think they'll be happy with what they get because of the amount of people not filing.

>he wants to get audited and lose
You do not have specific identification.

but user don't you know that 120% of people are LOSING MONEY in crypto?
we're the 0.000000000000000000000000000001% of people making ANYTHING off of it

If I take an unknown amount of monero out of my polo account and make an account on an exchange that doesn't need ID, will the govt be able to find me (aside from when I would cash out)?

YES GOY PAY YOUR TAXES

>land of the free

lmao

I see we all finally realise the ZOG does not want your money as much as it wants to see those who dare to defy it suffer.

>yuros have the audacity to say this while paying far more in total taxation (higher income & capital gains taxes, PLUS LMFAO 21% FUCKING SALES TAX MY FUCKING SIDES)

I assume you are not a subhuman shitskinned thirdie after all. My god that would be embarrassing!

Capital gains are not regular income. Report them w/ a form 1099

Yes I do. If I bought 10 Bitcoins initially, sent 8 to a cold storage wallet and sent 2 to an exchange wallet why should I use FIFO? It would INACCURATELY say that the 8 coins that were just sitting in cold storage were being sold.

>anything that isnt a burger is a yurofag

fucking hell, the absolute state

Short term capital gains (

usps buddy

You want to move it from the exchange to a wallet, then to another wallet, then to the new exchange for maximum plausible deniablility. Suffice to say, it's not fun getting raped by tx fees, but its more fun than getting raped by niggerstein in prison.

found a subhuman third worlder.

what shithole do you live in user

or are you too embarrassed to name it? that happens quite a bit with thirdos

This is the kind of thing that pisses me off,
We call it the land of the free and yet have:
>income taxes
>property taxes
>ridiculous building and zoning laws
>homeowner's associations
>lawyers
>a body of law that needs lawyers (they were banned from the courtroom originally)
>fees and registration costs to start businesses
>licenses needed for trading others' money
>brokers needed for trading directly on stock market unless you have $1,000,000
>licenses needed for things other than home consumer products
>the whole west being owned by the government
REEEEEEEEEEEEE

Sometimes I wish one could just sign a waiver anywhere they went and simply take responsibility on oneself for whatever happens

>lists things that all first world countries have, and 99% of them have far worse then the USA

oh no!

m8 is we didn't have HOAs the suburbs would be over run with shit

>pay
>taxes

sorry irs but you can't tax another nation's currency and kekistan is a tax free nation

liqui

It's February 13th, you retarded faggot. Normies don't have W-2s and 1099s yet. Who do do you think is even filing already? Anyone with gains will wait until April anyway. This the dumbest thread on 4chins right now.

Doesn't mean they're good

I understand this, and there is room for small communities with strict laws within an overall libertarian society, but shit LIKE this is just everywhere
It's as if you can't go anywhere or do anything without there being a 'proper, legal' way to do it that you can be punished for if the law wants to get you for something
>at least we don't have to sign in to each new town we go to, like yuros

>my dad works at steam, you're getting vacbanned
sure you do

Only a moron would sell until long term cap gains.

Gains in Q4 2017 are due Jan 15th

Look up estimated taxes

there's a reason your W2 withholds

hahahah holy fucking shit i forgot a lot of you made trades in Q1-Q3

you owe even more in fees now

fastcompany.com/40530398/bitcoin-and-taxes-is-anyone-reporting-cryptocurrency-trades-in-their-2017-returns?partner=feedburner

Lol yeah people who actually work already have w-2s and 1099s you retarded neeet faggot

This article says it’s ALREADY being mass underteported

>buy bch at 600$
>dont sell at 4k because user thinks that'd make you a moron

If you don't sell you have nothing to report
If you sell at a loss and don't report you're just taking money from yourself.

>missing out on good coins because you're locked in for 1 year which is a decade in crypto
shaking my head

Just goes to show how bad marxism fucked the world by giving niggers a platform to parasite gibs from and women to vote for equality of outcome across the world, more quickly in places that weren't founded in the spirit against these notions.

Hard fork coins are quite possibly income and taxed at the rate of the first opening sale on an exchange.

Yes, you could owe full income for all bitcoin forks, even if you never touch the coin

It's the ultimate weapon the IRS holds over everyone's head.

Pay my taxes on what you dumb cunt??

You only pay taxes if you realize your gains by converting back into FIAT like a dumb fucking idiot.

Either take out a SALT loan for cash, or wait until you have your 2018/2019 'fuck you money' gains and THEN pay.

Anyone, aside from those with financial emergencies, who pulled anything out so far other than reinvesting into more crypto, is a dumb day who deserves to be poor.

Besides, one day in the next few years, your crypto will be able to be used in lieu of FIAT and you will also be able to pay your taxes with your crypto.

BTFO tax-fearing faggots

False

Lol if you hodl but if you make any type of crypto to crypto trades you have to report it what don’t you faggots get

It's not realized gains you dummie.

Besides, Trumps tax plan doesn't affect crypto until 2019.

BTFO

The newest tax bill cleared this up and no, this is wrong
It is actually unrealistically retarded, every trade that you do is counted as a taxable event, and you must calculate the dollar worth of your transaction and see if there is a gain or loss from your last one

I made 100k cashed out and only reported my coinbase tax form and ended up paying 17k. Left all the shitcoin exchanges out of it and nothing happened. 2017 is like kind.

el goblino
la luz extinguido
el mounstro de las americas
kek

It is realized gains

You buy 1 ETH at $10. Now it’s worth 1k and you buy 200k link

You pay tax on $990

the fact that we can do this on exchanges with no verification required based in other countries and they have no way of knowing we traded it and they can do fuck all about it

anybody who would actually report this shit is a fucking queer. it's about as dumb as calling to report your illegal peer to peer movie and music downloads and asking how much you owe in money or jail time for it

I also have perfect records, I use a daily average from a reputable exchange to find FMV as per requirements.

Lol they will no you traded because you bought was 10 eth on Coinbase at 2k and suddenly you’re trying to cash out 50 eth at 100k

you're just trading paying now for paying more later and risking tax fraud charges

you didn't actually think you could cash out without the government being well aware of it, did you user?