Your linkies are actually worth $3 after Tax

Your linkies are actually worth $3 after Tax.
Burgers are fucked... they can only hodl and can't take profit.

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reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
irs.gov/newsroom/individuals-who-need-passports-for-imminent-travel-should-contact-irs-promptly-to-resolve-tax-debt
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i cant get taxed if im never selling dumbass

Only jewlovn fags pay taxes. Live in your car and be a homeless billionaire.

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>land of the free

that only works if everything you purchase is under the table. Also how will you buy food without cashing out small amounts, the fiat will have to go into some kind of bank account right? won't the IRS notice you didn't file taxes but spent $5k on tendies over the year?

reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/

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Obviously always under the table, have you never bought a car on offerup? If you are always on the move you're fine. Why the fuck do you own a bank when there is digital wallets and gift cards? Learn how to washing money and offshore accounts. You will be ok user.

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You don't know how bad it is. yes you can get taxed dumbass.
irs.gov/newsroom/individuals-who-need-passports-for-imminent-travel-should-contact-irs-promptly-to-resolve-tax-debt
Imagine being stuck in that shithole

why couldn’t he just get a tax deferment and write off his massive loss, the 400k liability is canceled by the fact that he lost literally everything. He’d have to sell whatever worthless crap he was holding onto, but it’s not like they were gonna moon anyway

not an american but wondering if ameribros would be able to use a loophole like this:

>Use coinbase/binance to buy ETH/bitcoin/whatever
-Send to metamask wallet and trade for >uniswap shitcoins
>??????
-crazy x1000 profit
>transfer back into ETH
>transfer ETH to a different exchange connected to a foreign bank account
>withdraw into the foreign bank account
Would ameriburgers be responsible for tax in america or in the foreign country here? both? neither?

Look up FATCA
the answer is NO. they must pay the tax like the cucks they are

This

I just skimmed through
All banks IN THE WORLD ofUs citizens report holdings to the IRS???
What level of kikery bullshit is this?? Holy fucking shit.

So don't day trade and only sell things you held for at least a year.

It's almost like the Jews own every single Central Bank in the world or something! How are you posting on this website and you don't know that already.

I literally want to strangle every Jew I meet. Holy fuck this is literally evil.

you dont get taxed if you dont sell retard. how do i get a tax debt if im not getting taxed? fucking tax retards itt.

im never selling until the u.s stop being retarded with the crypto tax

Once Chainlink is $1000, the Chainlink Clan will begin construction of Citadel 1 in [REDACTED].

someone please explain, cgt is 25% for american, how did this end up like this?

Are you retarded? Long term gains are taxes 15%

I should add if it was not obvious - Citadel 1 will not be within the jurisdiction of the United States.

Long term capital gains is 10%. I don’t care if I have to pay 100k on 1 million considering my stack only cost me 1k

No but what did the government do to earn that 100k?

Trading 1 coin for another coin is a taxabl event.
If you trade ETH/BTC for a uniswap shitcoin and that shitcoin moons in 2020 to x1000 but then crashes and loses 99% of value in 2021 you are responsible for up to 50% of the 2020 "gains"

Ex:
>You buy 5K USD of eth
>Trade 5k eth for shitcoin on uniswap
-----THIS IS THE TAXABLE EVENT-----
>shitcoin moons x1000 and you now have 5 million
>you hodl, 2021 Comes
>shitcoin tanks and loses 99.9% of it's value, you now have $1

According to the IRS in this situation you owe over 2 million USD in taxes. If you don't pay you're going to have your wages garnished for the rest of your life or get mouthfucked by tyrell in federal prison for 30 years, your choice.

dat id
US GDP 1 Canadian Dollar

It's not "the jews", it's people who in sketchy sourced books seem to refer to themselves as jews. In the protocols they say there's other jews who don't know anything about them. Who knows who/what they are really.

what did you do to “earn” it? lmao

can we start a BLM movements to defund the IRS?

I looked it up Mutts are not as cucked as I though. sorry. still cucks though with the worlds most evil tax system, they can still take your passport away.

HOLD & you're fine. trade & get fucked

Ths is Fbi, freeze motherfucker

I took out risk.

Did you guys know the IRS will give you like 20% of the proceeds of any tax evaders your report to them?

When link moons and all of the retard mutts are showing off their bags I'm going to have a field day reporting all of the posts to the IRS and laugh as I steal 20% of everyones gains

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They pay for roads and cops and military so I can enjoy my 900k in a modestly functional and safe society...although, it isn’t looking so functional these days. Actually you raise a good point. They really don’t deserve any of my link bucks.

>You buy 5K USD of eth
>Trade 5k eth for shitcoin on uniswap
report that transaction, gross of $0. that means no tax. i didnt sell the shitcoin. that means no tax. get fucked retard.

the government risks a lot too, maybe they deserve that tax revenue for it

That's wrong though, the only taxable event is the trades.
If you buy 5 Eth at $100/coin (fucking god I wish but simple numbers)
Eth goes up to $120
You swap Eth for Shitcoin (taxable)
Shitcoin goes up, down, sideways, to $0,0001

Only taxable event is the $100 you made on The Etherium to Shitcoin. That's a gain. After that you didn't do anything, gain or loss, so you don't get taxed for the moon.

Now if you traded all your shitcoins back into Etherium, FOMO'ed back into the Shitcoin cause it kept going up, THEN the shitcoin tanked, then yea you're fucked royally. Never swing the whole stack.

this is fucking wrong you retard
you're only fucking taxed if you sell that shitcoin at 5 million. If you sell it at 1 dollar that's a taxable event and counts as a loss.
Fucking morons on biz

However if you bought that 5K ether at $1,000 that trade memes you gained 500% profit.

I had low time preference and foresight. I had discipline to hodl for years. And I lost all my friends for devoting my life to a racist cartoon frog. I earned it.

took the risk

Just goes to show you the type of morons that trade shitcoins these days.
Fucking brainlets.
Is there any surprise that these kinds of dipshits go margin short or long and then get fucking wrecked.

You use the profits to buy drugs sell drugs at cost price and live off that never cash out to a bank user.

He earned the initial capital with his own labour and risked it on the investment. The reward is earned by the risk.
The government risks nothing by asking some cop to go to your home and put a gun to your head and demand your earnings.

That is incorrect. You are taxed on any gains you made not just when you sell into dollars. whatever your games were at the time of a trade that is how much you have made and it is a taxable event. Doesn't matter if you touched dollars or not.

lmao

the government makes all this gay shit possible so warlords don’t take 100% of your lunch money bro

That's wrong and makes no sense. So people holding Etherium right now are taxed when it goes from $250 to $400, then again when dipped to $300 then back to $400 right now? You'd be fucking stupid to report that and nobody at the IRS would have a remote way of tracking it.

yeah except the retard I was replying to is suggesting you are taxed on unrealized gains even after your shitcoin crashes which is FUCKING STUPID AS SHIT.

Now that is something I can get with.

Literally everything that is wrong with society, supporting defund the police instead of defunding the kikery.

the government are warlords and take 36% of my earnings already
how is that any different from paying Little Tony protection money

I think he's trying to say each trade between coins is taxable, which is correct.
you are not taxed on unrealized gains or losses as some morons on this thread is saying.

Trump will do away with 2020 capital gains tax. So won’t be a problem for burgers.

u read the post wrong dumbass. U are agreeing with him.

You just described me, apart from the millionaire thingy.
Only got 25k to my name.

who says little tony doesn’t deserve that money for preventing someone else from taking 100% of your cash instead? whoever you pay protection money allows you to exist at their largesse

you would only owe tax on the $5k transaction, no capital gains because you did not gain

This is correct.
I currently "sold" Link I bought at $8.39 for $7.50 to buy other shitcoins. Despite the fact that link is over $9 now and the majority of my stack was bought under $2, I had fomo'ed some coins at $8.
Those were sold at a loss to buy something else.
Link's current price doesn't matter nor the fact I still have positions. The taxable event was only when I traded it for something else and fuck you IRS, it was done at a loss.

Not unless there are trades. You're only text when a trade of any kind happens it doesn't matter how far it moved and what direction before or after only what the value is that the time of the trade. You can also make a trade for a loss in order to lower your taxes. It goes both ways.

Correct, I actually do this.
Was spouting some bullshit though.