Make $100k in crypto

>make $100k in crypto
>lose it all gambling shitcoins
>still owe taxes

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You only have to pay tax on capital gains, if your coin drops 99% of value, just trade it for something else and that loss negates any gains you made.

The only way that can happen I believe is if you make a huge a loss and dont trade them again before the end of the financial year.

based albert

There you go

this.
also going to add, if you are a good boy and pay your taxes quarterly instead of just once a year, even if you paid in an earlier quarter, as long as you claim your losses in the same year, you will get a tax refund on what you previously paid

PS2 > PS3 = PS1 > PS4

yes

albert, I kneel...

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Based, I'm down a grand in crypto and up a few in stonks.
Also don't forget, no fucking Medicare or social security taxes on capital gains aka "unearned" income either.
We're all gonna somewhat make it

based albert, thx for paying my 150k salary at sony

My answer to that pic is PS2.
That little black box had much more soul than that thot.

incorrect, that's correct in the UK but if op is a burger then he's fucked. All trades are taxable events regardless on whether you make money or not

pretty sure this is incorrect
what matters is what your total profit/loss for the taxable year.

not 100% sure though. someone confirm plz

In the UK yes, in the US no.

Her hips and ass are freakishly wide.

I'm guessing some weird surgery? Why do women go to the extreme by taking something nice and making it ugly

how do i sell an illiquid shitcoin bro

ps3 was so garbage in its early and mid career. i felt ps4 had better exclusives.

If you make a winning trade put aside tax money , it’s that easy. You owe it on every trade and you can only write off so much on taxes

Was it on a KYC site?
Seems like you just gambled and lost how would anyone know you added money and lost money

PS2 was the shit

lol, no, you're confused

>>make $100k in crypto
you made nothing before you cashed-out.

why the fuck you even paying money morons? just trade anonymously and cash out into literal cash when you have to.

Still playing ps3.
My gf is getting antsy, need to upgrade.
What distracting games will keep my gf busy while I trade all day?

Damn I hope this isn't true

He cashed out into other shitcoins you moron

US I'm pretty sure losses cancel out profits. In the same year of course.

Try it on E-trade or some shit. the IRS comes after you for every trade even if you lost money

In the US you can only write off 3k in capital gains related losses every year.

PS4 only got Bloodborne lmao while PS3 got Demon's Souls, NieR, and the whole MGS collection.

You have no have no fucking clue what you are talking about. You are talking about gettinv capital losses one year and offsetting future income by only $3k a year. You can offset an unlimited amount of capital losses against capital gains if its in ths same year.