PAGE ONE OF TAXES: CRYPTO

Just check ‘no’ on the form?
Couldn’t one say they put all their crypto on a physical ledger, then lost it?
Declaring a loss.

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You could try. But then you'll never be able to cash out or buy anything important.

'less he luckily finds a physical ledger with pincode enclosed

mnuncih doesn't like bitcoin one bit and he has his finger on trump, as releasing the tax returns would probably land him in prison and be grounds for impeachment

but he can't do THAT much to delay the crypto revolution, just some stricter legislature

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Just like I won’t be able to shoot my guns after they have been buried to avoid confiscation.
The guns will be shot. The crypto will be spent.

Suck my dick IRS

pay denbts goy

I legitimately sent a fuckton of btc to a sketchy website and lost it gambling. How to IRS that one?

Oh sorry IRS officer I lost my Private keys in a boating accident. But my friend did agree to sell my same tokens back but I had to pay 5x what they worth. So I guess I owe less taxes now?

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Delete this

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I'm just going to purchase the IRS

Umm if I have all my shidcoins in a wallet and not on an exchange what the fuck do I even do ?
Do I go on fagbase and print out a tax report ?

nothing if you actually lost it gambling. Just proves you are a retard
However, if you are cashing out casino funds, you still owe tax on it.
Wallet to wallet transfers are considered taxable events
If IRS finds out, you will be buttsexed by Uncle Sam

kek. The bull run is coming and they fucking know it. It's hilarious.

well you either ride it out until crypto is fully implemented into society or you save up for your accountant and file an extension on your 2020 taxes.

By their own definitions it isn't a currency, it is an arbitrary piece of property that you own. Imagine a box on a tax form for any other arbitrary piece of property like dildos or bodybags, there is no conceivable reason for them to put it there except for direct contempt for a population subverting their illegitimate thieving desires.

inb4 capital gains on crypto are taxed at 100%

Wallet to wallet transfers are a taxable event? What in the fuck? That's like saying I should pay sales tax when I move fiat from my pocket to my wallet.

Pls send uniswap link sirs 10x moon?

wallet to wallet is not a taxable event
coin to coin is though

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No, he doesn’t know shit.
Wallet to wallet transfer is not a taxable event.

right now it's around 20%

taxation is theft.

you guys are so paranoid

they just want their 15% capital gains and 15% fica and s/e tax.

don't go into business if you can't make enough to go legit

It's 15% and only if you made 40k in profit for that year

i thought that if you made between 40k and like 250k all capital gains were taxed at 15%.

s/e starts at $1 and cuts out around $99k I think

10% if you hold for over a year from buy

It isn’t but the irs is looking at those transfers as possible ‘stacking’ offense and they don’t fuck around if they suspect that

If you traded a coin for another coin, you cashed out. They're coming.

I'm confused AF
I'm down fucking 900$ thanks to stonks on faggot robinhood
And I've fucked around crypto but never made any real profit maybe 300-400$
I probably don't owe the irs fucking shit for 2020
All I'm holding is a few shidcoins in a wallet

How do you pay those taxes if you havent cashed out. Say you bought 5000x at .30cents and at the end of the year each token is now $50usd but you havent cashed out. What do?

>I probably don't owe the irs fucking shit for 2020
you're probably right
I think with the IRS you either cash some out or they'll do it for you

Fugggg, you cant just hold for over a year and give em 10% when i cash out in 3yrs???

TakIng them crypto shitxoins off the exchanges

Evading taxes, buying guns and fucking off to the woods

Fuck kikes

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Trading as an American seems like a massive pain in the ass.

>Wallet to wallet transfers are considered taxable events
no they aren’t. i minute of research would’ve showed you that. crypto to crypto is taxable, cashing out is taxable, and buying things with crypto is taxable. that’s it.

I think if you make a good faith effort to follow the rules, things will work out fine. Track your USD basis on a spreadsheet when you trade and then you can print that off and send it in with your form 8949 or whatever it's called. It's not hard. That being said, I'm definitely bailing from this Orwellian shithole and getting citizenship somewhere else at my earliest convenience.