You set aside the IRS's money when you trade don't you?

You set aside the IRS's money when you trade don't you?

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>its another r/buttcoin meme thread

Nahh just funny that people JUSTED themselves by not understanding capital gains.

Tax attorney here, nice try fudding people but no one is dumb enough to fall for this here.

What happens then?

I'm a CPA in corp tax.

You can't claim 2018 losses against 2017 gains. If you traded a lot in December you are basically fucked unless you got out at the peak.

>I made $100,000 on scratch-off lottery tickets then lost it all betting on horses

nice larp

>paying tax on cryptos
are you all serious or just trolling?

This. Everyone else is COPING HARD. Might as well flee the country or kys, the Tax man cometh.

IRS is stepping up enforcement action. If you aren't paying taxes hopefully you didn't leave a paper trail.

more like the IRS sets aside money to give back to me when I trade since it's always a loss

How did you lose money in 2017?

this is fcking the fuck is the IRS taxing crypto when crypto is so volatile

Maybe this crypto thing was just a way for the government to deal with the NEET problem, all of you are going to be jailed for tax theft.

IF I'm going to file taxes I'm going to do LIFO instead of FIFO.

you taxcuck faggots sicken me

they tax when you trade not the value it is at any given moment.

>prison warden makes us tendies instead of mommy
wouldn't be that bad

But what if I don't withdraw till 2020? How does that work Mr smartypants? No one knows I made a loss or gain until I cash out.

>he thinks that the prison warden is the only person to worry about

All non-burgers who don't have to worry about ridiculous taxes when they cash out, report in

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if you trade crypto to crypto the IRS considers that a sale. Even if never cash out" into dollars.

If you "HODL" and never sell you don't owe taxes.

You delete that damn post.

Wipe your reddit account.

And pretend you didn't do shit.

just a reminder coinbase/GDAX is giving out all the info to the IRS

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Come fuckin find me IRS lollll get real. Bro just pay the tax when you cash out and your crypto materializes to fiat. they can't come after you for money that they don't know exists.


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Any one know what the BTC/Good boy points exchange rate is in federal prison?

hm I wonder what would happen if literally everyone got together and was like FUCK THE IRS BAN THE GOVERNMENT NO???? OKAY OFF WITH THEIR HEADS

....just a thought

offset capital losses

>Adding state taxes

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They will lock you away in prison to make an example out of.

The disruption of throwing 50,000 neckbeards away is less than if everyone realized you didn't have to pay taxes.

majority rules, right?

what would happen if >99% of the world voted for the execution of the wealthiest

while I don't support taxing crypto gains, I don't understand this whole "taxes are EVIL" sentiment that a lot of people here seem to perpetuate

it's theft, plan and simple

How are taxes theft? You pay them because you live in territory governed by the CORPORATION OF THE UNITED STATES. They set the rules and if you don't agree you can leave.

get fucked, bootlicker

Irs is after whales they don't give a fuck about us

seriously tho, what system would you put in place instead of tax?

Do you not believe the CORPORATION OF THE UNITED STATES does not have the right to collect its profit from its property?


wasnt the nation founded due to a bunch of angry white guys not agreeing to the tax situation? The entire premise of the second amendment being a safeguard?

no, not even a little

The CORPORATION OF THE UNITED STATES is above the law because it created the laws.

>They set the rules and if you don't agree you can leave.
Try that. You aren't freely here.

capital losses happened in 2018 you fucking larper. They don't count for 2017 taxes.

lol this is literally exactly why the second amendment exists

Crypto tax is theft cause they think autist are going to keep track of the price of every single coin they trade. The easiest solution would be to just have a set % rate on when you cash out instead of making it so complicated to the point where everyone just ignores it.

thats funny because at no stage does fiat come into the equation when trading crypto pairs, they are outright lying to suggest they have jurisdiction in that regard which is kind of why crypto was created to begin with, right?

would that be similar to london
and vatican city

>being american

Is there anything more cucked than being burger? You all own guns just in case you ever need to rise up... but then you’re just being boiled alive slowly. No privacy, no freedom, high taxes, no healthcare. Instead of doing something you all put your heads down and asses in the air ready to take it. You just fight over which is better coke or Pepsi, Burger King or McDonald’s, Hillary or trump. Just to make yourselves feel like you have some choice.

I feel like this year and probably for the next few there will be this this sort of soft message of "you're on notice" from the IRS because to this point it's mostly gone completely unaddressed. If they take action it will be to make examples out of people, and they certainly can do that at any point. But that said, I can't imagine they can step up enforcement to the point of catching more than a small fraction of people dodging taxes; that would require a big shift in resources and probably budget needs that just aren't there. IMO if you make at least some effort to report gains and back them up with a reasonable record there shouldn't be much to worry about. Just have to formulate your own tracking system and use that if there are any questions. No one knows exactly how this will play out so it's all about best effort. There will be official rulings from the Treasury Dept someday but until now there are a lot of questions.

>mfw I've made tens of thousands have a folio in the hundreds of thousands, claim all my trades, and pay my estimated taxes for both federal and state every quarter so I don't get any penalties

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Oh is that why there are market cycles, and the beginning of the year just shits on everyone?

This is blatantly gay.

ignorance of the law is not an excuse.

>forcibly taking property under threat of violence isn't theft

>Thinking a 250 year old piece of paper can protect him.


What if I live in the hood where cops don't even bother coming around in Detroit, will the IRS come for me? If ya catch my drift

Wew. They'llnever catch us all.

it isn't your property though, it is the CORPORATION OF THE UNITED STATES property. They own the money, they just let you use it in the meantime.

Ok Chaim

the paper isnt what is important
its the nation of gun owners that believe in what the paper says that is important

lol and you're just okay with this I take it? you fucking cucked piece of shit

he is right though
freedom aint free
blood of patriots and whatnot

If they own it then they can come get it. I'm waiting

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Do you not believe the CORPORATION OF THE UNITED STATES can own property?

I think you're going to make it user.

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too bad they have successfully dumbed down and indoctrinated their subjects to the point they don't fight back.

and what? ima stealing nigger Ill just pull the race card.

Do you not believe the corporation that writes the law is unlawful? How can that possibly be?

ITT: people realise why it was referred to as "wageslave" before "wagecuck"

it was a minority of determined people that founded the nation
and humanity was once down to 10k population during the last ice age

there have always been masses of brainlets
crypto did not come from them
nor will anything of true consequence

Do you even pay taxes if you never cash out on crypto? It's not exactly stocks.

You don't owe if you "HODL"
You do owe if you trade crypto to crypto the same as if you sold the first and bought the second.

Say I buy ETH through Coinbase and Link (lmao) on Binance after sending real quick. That actually counts toward taxes? That's fucked.

thats funny because at no stage does fiat come into the equation when trading crypto pairs, they are outright lying to suggest they have jurisdiction in that regard which is kind of why crypto was created to begin with, right?

Jesus Christ america sucks balls

Sure thing, goy. We'll be right over. ;^)

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>they are outright lying to suggest they have jurisdiction in that regard which is kind of why crypto was created to begin with, right?
>Topic Number 420 - Bartering Income

>Bartering is the exchange of goods or services. A barter exchange is an organization whose members contract with each other (or with the barter exchange) to exchange property or services. The term doesn't include arrangements that provide solely for the informal exchange of similar services on a noncommercial basis. Usually there's no exchange of cash. An example of bartering is a plumber exchanging plumbing services for the dental services of a dentist.

you are basically bartering crypto and it is taxable.

you're getting paid for spamming this shit, right?

why the fuck do you care so much about doing right by (((them)))?

Believe it or not I do it for free, just looking out for my fellow taxslaves to insure they are compliant.

go do something more helpful, like killing yourself

He's not wrong. We are beyond cucked in burgerLand.

t. trying to move to puerto rico to avoid getting raped on taxes

he's a definite IRS shill
I implore everyone to search into what he means by the corporation of the united states
he's not being cute
there is significance to that
he might be the new generation that is watching his "entitlements" disappear like a sand castle in high tide

to simplify
you may be talking to an ILLUMERNATI tier queer that is losing power that should have been his via birthright because of a new society divorced from his "jurisdiction" facilitated by crypto

or maybe he is just an r/buttcoin queer

Too bad the IRS relies on the masses to give themselves up willingly :(

Did you know Jews were heavily involved in the slave trade? but it wasn't illegal so why would anyone care?

It also isn't illegal to feed Americans propaganda for the last couple years too! Why would you care if CNN/MSNBC tells complete lies, it is the right of the government to pay them too!

>he's a definite IRS shill
I mean it just makes more sense, right?

>Too bad the IRS relies on the masses to give themselves up willingly :(

Good thing Al Capone gave himself up willingly :)

yea the do, but is it going to be massively fucking hard for them to do it? kek

fuck you get fucked. if noone complies, you basically can either spend more money than you would collect to enforce it or more realistically JUST FUCK RIGHT OFF

>local breaking news
kek. What is it with the IRS and living in the past? Suns setting, boyos

Think about it, did the 2017 bubble in crypto seem natural? It was heavily manipulated and everyone had huge paper profits far surpassing the actual money put into the exchanges.

What happens when everyone tries to cash out to pay their taxes?

Try to think critically on this one.

Wtf do you mean senpai, literally drug culture is everywhere and those people don't get taxed kek.

FUcking whole group of old friends caved into ice and meth, fucking people have been selling drugs and doing drugs since I was middle school. What makes crypto-currency easily taxable? If someone even wants to sell cryptos they shouldn't be in cryptos to begin with in the grand scheme of it.

>I don't live in America btw

as a burger i can confidently say that my fellow burgers are complete taxcucks. they are too afraid to fight back so they take it. if you actually challenge them, they will give you shit but back down. unless you start saying shit publicly, then they will take you out to make an example.

What if I sell a 4 cent stock for binance coin which is then spent as an fee for some other trade? Am I taxed when bnb gets spent too? Or does the govt then owe me monies for being a good consumer? Also what if I sell the (ZIL, NCASH) 1 at a time as opposed to the $10 worth I customarily hodl? I feel like this is going to cost the IRS too much to review...

You have to be in Puerto Rico 10 years for it to take affect.
all those crypto guys that moved there just put their asses in the limelight and will be fucked hard.

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