***ATTENTION - YOU WILL BE REWARDED WITH OC NUDES***. Now that I have your attention, if the amount of APPLEFOURTHS is increasing in the wallet, how can you declare your taxes.
For example, you buy 100APPLES for 2.5$/coin and then you sell after 9 days 200APPLES for the same price. How can you explain the 100% increase of your APPLES with no other intermediate transaction.
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The same way as you can explain your house appreciating in value. You hold a certain % of market cap and the market cap appreciates in value.
you can't
welcome to never being able to cash out
Im pretty sure they look at number of units bought/sold when it comes to crypto declaration
>pays tax in trades some on a dex
can't you just do it on $ value?
Declare rebases as income.
but rebases are not documented as transactions in metamask wallet history, it's just my word of my mouth.
A rebase that increases your balance is essentially an airdrop, and the IRS recently said you must pay tax on airdrops. If the rebase decreases your balance, I have no idea how that should be treated tax-wise.
Good luck doing your taxes, Amplefags.
Then why are you so eager to pay you bootlicking cuck? Just sell everything, pay up, and gtfo out of crypto
Lol this virgin pays taxes
As long as you declare the right amount and you pay your tax, your word will suffice. At the end of the day you will be able to also show the amount that you cashed out for.
It's the same as a stock split.
Incorrect. This is not an airdrop. It's the same as a stock split. Your percentage ownership of the overall mcap never changes after a rebase (positive or negative). Your overall basis per each individual share is simply lowered.
Don't pay unnecessary tax:
if you choose to actually do crypto taxes treat the increase in AMPL as a stock dividend (i.e. use the same tax treatment as if you received a dividend from a stock paid in shares). this will require a recalculation of your cost basis.
who is OC and why do i want his nudes
Found the low networth user with no stonks.
AMPL increase is a stock split. Percent ownership of the overall market cap never changes.
An example for the clueless: google "apple stock split"
>How can you explain the 100% increase of your APPLES with no other intermediate transaction.
You don't. Declare what you earned. Easy.
There were literally millions of $ in AMPL cashed out over the last 36 hours and they were all absorbed with not much effect on price.
Welcome to liquidity brainlet
I'm thoroughly impressed by this. It's been very resistant to big swings but I'm not sure if its because the buy pressure is still so high
It's your God given right to commit tax fraud
>retarded nig never heard of stocks splits
>thinks its some novel accounting situation
you are stupid and poor and should stop posting.
kys loser
>cashed out of AMPL last week after the drop
>my crypto tax calculator says I made a loss despite doing a 3x
kek
my guess is that anything lost or gained by rebase is added or subtracted to or from your cost basis as either buying for 0 or selling for 0 and realized when you sell any ampl, on a pro rated basis. I’m planning on asking my lawyer about it next time I talk to him
>It's the same as a stock split.
no it's not. because you can lose your shares too
do you frequently catch up with your lawyer user?
Yes. It is.
Your percentage of the AMPL/Apple/Nvidia/Alphabet marketcap is never diluted on a rebase (stock split).
God Damn it you folks are stupid. Life is going to be very hard for you.
Read 2 minute AMPL overview:
ampleforth.org
Google: "stock split".
>how can you explain the 100% increase of your APPLES with no other intermediate transaction.
don't lmao
Call Trump and tell him to get rid of taxes completely
Boo nigga
Buy at 4$
Wait until rebases pull price down to 1$
Sell
Declare as a loss