I have to pay tax on crypto

>I have to pay tax on crypto

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Is it just the same retarded schitzo ancap making these threads every day?

Use atomic swaps and hide your gains in other coins

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When the judge asks me why I didn’t pay my taxes I’m just gonna make the onions face at him then he will have to let me go

>he doesn't use xUSD, the first private and decentralized stablecoin

I think it's bullshit, but hey, we're supposed to get jewed on all of our income. Good news is you can also write off your losses in crypto.

had a good laugh imagining this, thank you sir

Do burgers have to pay taxes on crypto/stablecoin trades?

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Yes, but I don't think you have to pay taxes on stablecoin -> stablecoin trades

I cashed out $70k profits in January 2018 and the IRS hasn't said shit.

Yes, you do. You have to track everything or the IRS will assume that whatever lump sump you magically received has a zero cost basis. Good luck with that.
Yes, you do.

>everytime you make a trade you have to pay short term capital gains tax

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It'll take about 5 years but they'll come at you with interest added on all the payments you missed.

Nope I don't think so, you just report how much you gained or lost. Also the exchanges track everything anyway if that information was ever needed.

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>fiat
>stable or priavate

what

>I could go on and on.
you will, from your jail cell

No. You have to PROVE what you gained or lost. Otherwise you get audited. The exchanges keep track of stuff up to a certain time but it's too much data to keep for many years, which is how long it takes for the IRS to realize you didn't track anything and then audit you.

>oh no I have to break up my withdraws and can only get tens of thousands of dollars a day THE HORROR

This is a non-issue

Only if you make gains on it. If you take a loss you can write it off.
Crypto is treated like property here

>The exchanges keep track of stuff up to a certain time but it's too much data to keep for many years

hahaha wtf you think exchanges just delete their most important information?

probably de IRS itself

bros we really ARE getting close to the golden bull if the IRS is fudding us again

this.

FUCK OFF GLOWIE

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>sell shitcoin to usdc
>hold usdc in eth wallet for years/reinvest
>pay tax on those gains even though it's not in my bank?

Then when I transfer usd to my bank they won't try to get me to pay again, right?

mongoloid

>sell shitcoin to usdc
this is when taxes are due no matter what you do afterwards

absolute cuck enjoy paying your taxes

no u don't

fuck your shitcoin. RSV

just pay those faggots off if they ever find your stash. Taxation is theft, especially now. Fuck the fed.. they get nothing.