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
PAGE ONE OF TAXES: CRYPTO
Jeremiah Rodriguez
Anthony Reyes
If you traded a coin for another coin, you cashed out. They're coming.
Brandon Myers
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
Dominic Cooper
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?
Dylan Sanchez
>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
Juan Morris
Fugggg, you cant just hold for over a year and give em 10% when i cash out in 3yrs???
Levi Russell
TakIng them crypto shitxoins off the exchanges
Evading taxes, buying guns and fucking off to the woods
Fuck kikes
Evan Bailey
Trading as an American seems like a massive pain in the ass.
Andrew Baker
>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.
Jonathan Kelly
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.