I think I'm fucked

>25k turned into 4k after bubble pop
>taxes around the corner, can't afford them most likely
>wife and child to provide for
>definitely invested more than could afford to lose
>making only slightly above minimum wage
>zero dollars in bank account, all in crypto

What should I do biz? I'd probably KMS if I didn't have a family I'd be ruining doing so.

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reddit.com/r/personalfinance/comments/84huks/i_just_discovered_that_i_owe_the_irs_50k_that_i/

Why do you have a wife and especially a child if you have a minimum wage job?

Sell the child

You're not necessarily ruining them. Do you have life insurance?

Condom broke, life is grand like that

I don't understand why you would do this in the USA. Did you not think about tax? You still have twice as much as me and I never had nearly as much.

Also get a fucking grip of yourself and actually realise how lucky you are to have a child that will love you unconditionally. You'll find a way to provide.

>minimum wage job
>wife and child
>implying you fucked up because you lost money in a meme market

learn a skill or a trade, but one that won’t be replaced by a machine in the future like driving a truck

I've been seeing a lot of suicide threads on Veeky Forums as of late, especially on Veeky Forums, and it's making me uncomfortable trading in what is essentially blood money

Mistakes happen
Why didn't you have an abortion
Ask your parents the same question

Gotta break a couple eggs to make an omelet, user. How do you think capitalism works?

op, you dun fucked up the moment you nutted in a wimmen without having at least a house/land and $250K liquid...bitches and children cost more than usual these days because they get hypnotized by the TV and think they should be living in luxury. when in actuality all a baby needs is mom's milk, warm clothes and a place to sleep, and a child can survive on some veggies, some meats, some rice. you fucked up big time by starting a family when you couldn't afford it. don't blame THE CRYPTOZ, take responsibility you fucking nigger. i bet your skin is brown. eat shit niglet.

The tax fud is too obvious.

Shoo shoo

>I fucked my wife with a condom on
>fucked my wife
>my wife
>wife

user I...

The state of newfags

livestream an hero

I don't understand, base on the info you provided - you don't owe any taxes.

Why do you say "you most likely cannot pay taxes" what taxes?

How come you have to pay tax on losses in usa?

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They weren't losses on December 31st when taxes are calculated, the loses from Jan/Feb get dealt with in 2019

that's not how it works.... doesn't matter what the balance was on Dec 31st if no trades are placed. Taxable events occur when trades are placed.

Shit maybe I'm thinking of somewhere else having to do with what the total capital gains were for that year. Maybe I'm just retarded.

The irs isn't going to waste it's time on poor broke fags like you.

lol at all these kids getting their clams slammed by the tax man

let me redpill you: condoms don't break spontaneously with correct use
ask yourself: was I drunk? was I stoned? were my nails perfectly trimmed? did I pullout after creaming?

No they're not. Stop with the fudding, they only squeeze people that have money. Fucking with a broke person with dependents is a bad use of resources and bad publicity.

>t. Rather Short

If you did not hold for more than a year or sold into fiat and went back into alts you are fucked in taxes
Its taxed as standard income not capital gains AND if you went into fiat its taxed on that amount AND on the amount gained in alts

See this leddit thread
reddit.com/r/personalfinance/comments/84huks/i_just_discovered_that_i_owe_the_irs_50k_that_i/

Yeah you'll be ruining the family by sticking around and burning through another $21,000 in a few years. I'm sure they'll be devastated to lose that excitement in their lives.

whats with the irs shills everywhere these days?

until they have both the manpower and technology, the tax man literally has to rely on you voluntarily cooperating

They will get their money it might not be today or next year but they will
I had 6,800 pulled from from my account from the state of california which I never even lived in
They have the authority to do w/e they want with the money they print

IRS is not to be taken lightly though.

I mean thats what they WANT to do but in practice its not going to play out that way. The number of people reporting crypto gains is going to be very small come April and its the IRS that goes into panic mode not the majority of people.

They cant do that with crypto. They are in a very weak position this time around and its going to make them very VERY scared once they realize they are fucked.

They need to update their shitty system. Its old and unusable in the current situation so once they stop being lazy idiots maybe they might get some money.

Suicide is Veeky Forums's way of saying leaving Veeky Forums for a bit.

>a child can survive on some veggies, some meats, some rice
For some reason this made me laugh. imagining a baby eating chicken, rice, and steamed broccoli

>killing yourself over a couple of dollars
I don't get it.

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what's the big deal? file an extension, save up what little you can, report/pay a lowball estimate on your gains, keep saving in case they come to your door for the ~3k you owe them (they wont, they're going to go for dudes with tens to hundreds of thousands owed). Life might suck for a while but you have options if they decide to audit.