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2021-01-26 12:21 26543560 Anonymous you ARE paying your taxes biz, right? Right? (taxer.png 1157x427 85kB)
0 min later 26543581 Anonymous
Taxes? I didn't know I had to pay no taxes officer! You can't charge me if I didn't know!!
1 min later 26543635 Anonymous
Tyrone and his 10 bastard children need to eat anons, please pay up.
2 min later 26543658 Anonymous
>>26543560
Taxes created 40 million hostile niggers and until they are all gone I am not paying shit
2 min later 26543663 Anonymous (1593773480842.png 539x775 44kB)
>>26543560
3 min later 26543707 Anonymous
>>26543560
sorry, Chaim. You'll have to find money for isreal somewhere else.
3 min later 26543722 Anonymous
Do you only have to pay taxes if you sell crypto for USD? Otherwise that is ridiculous
5 min later 26543818 Anonymous (1611091327380.jpg 640x640 56kB)
>>26543560
Yes officer, I pay my taxes on my gains from every crypto trade, and again the 50% when I withdraw! Thank you for taking 75% and giving it to shitskins, have a nice day!
6 min later 26543878 Anonymous
>>26543722
As OP's post states, look at the different "Schedules". Mining and staking income included.
6 min later 26543883 Anonymous
>>26543722
If you're in the US or UK it's on every transaction or disposal of a crypto asset, so every trade (not sure about other countries). In reality wouldn't you just report it when you cash out? Who is really going to cash out some of their crypto to pay for tax on gains made trading crypto for crypto (which would generate more taxable events)?
9 min later 26544022 Anonymous
>>26543883
Sorry had a retarded moment, of course you'd just pay taxes at the end of the financial year. But the system is still really at odds with how crypto works. For example to even buy Link, which is a multi-year hold for me, I have to buy ETH first to exchange for it which is taxable.
23 min later 26544671 Anonymous
>>26543560
Only white cucks pay taxes.
35 min later 26545262 Anonymous (1590945916041.jpg 583x605 89kB)
>>26543560
FUGGGG :DDDD
37 min later 26545369 Anonymous
>>26544022
Be realistic, if you buy eth and instantly change it for link you dont create gains that are taxable
38 min later 26545399 Anonymous (6cf.png 485x433 24kB)
>>26543560
I have a question, I have been buying since 2019 but did less than 10 trades (and lost $50), ever since I've just been buying and holding. I don't have to report that i've been buying until I sell and make a noticeable profit right?
38 min later 26545409 Anonymous (patrick bait.jpg 308x302 6kB)
>>26543560
Why the fuck would anyone report income earned from DeFi, staking, airdrops, etc
45 min later 26545709 Anonymous
>>26543560
>report stake rewards on your hotdog coin
How even, it's unrealized until you cash it and when it is cashed just tax it toward your income bracket on short term and capital gains on long term.
51 min later 26545940 Anonymous
>>26543560
This is misinformation. No crypto requires filling out a SCHEDULE B. IRS feeding you bullshit it maybe it’s the buggy crypto tax software. They shill on this garbage site. Fuck you pajeets.
53 min later 26546043 Anonymous
>>26543560
Trying to report defi gains is going to be a pain in the ass for my CPA
56 min later 26546138 Anonymous
/\/0
58 min later 26546217 Anonymous
>>26543560
I'm planning to get "scammed" as soon as my bags moon.
58 min later 26546220 Anonymous
>>26545399
Nobody knows the tax code, not even the IRS. It's basically a game of "how many amazon gift cards can I buy with bitcoin before it's suspicious"
59 min later 26546266 Anonymous
>>26543581
>Post saved as prood you knew
59 min later 26546280 Anonymous
Say I get paid under the table at work so I don't file taxes normally. I have a lot of crypto but haven't withdraw any into fiat, do I have to file anything bros?
1 hours later 26546361 Anonymous
Seriously though I've been thinking this the past few days...
You have a bag that moons, you don't want to pay taxes on making profits.... just transfer it to some other wallet on another computer from a different ip and if the taxman comes, say "I invested in crypto but got scammed so me no has crypto no more officer". What can they do about it? It's only taxable when it's traded anyway.
1 hours later 26546419 Anonymous
>>26543581
Only works if you're a Clinton, sorry.
For us plebs, ignorance is no excuse.
1 hours later 26546434 Anonymous
Uh oh
1 hours later 26546453 Anonymous
>>26545409
be a good goy
1 hours later 26546541 Anonymous
Realistically you only have to go through the effort of paying crypto to crypto taxes if you have a large amount, like over 300k+. At that level its probably better to pay the IRS to not get fucked 5 years from now. But for now, I don't think the IRS would care if you only paid taxes on cashing out on a fiat offramp
1 hours later 26546548 Anonymous
>look on my wallet
>200+ transactions in the last 3 months
Uh.... guys?
1 hours later 26547553 Anonymous
>>26546548
"i lost my piece of paper"
1 hours later 26547569 Anonymous
>>26543560
of course. i want to be able to sleep soundly
1 hours later 26547631 Anonymous
>>26543560
>report DeFi income
lmao
1 hours later 26547661 Anonymous
To be blunt, if you don't pay taxes, then you cant make large purchases from the assets. And unless you're a poorfag, there's plenty of ways to reduce tax burden to reasonable levels.
1 hours later 26547827 Anonymous
>>26543560
No I live in a tax haven
1 hours later 26547866 Anonymous
>>26546217
kek
First you lose all your guns in a tragic boating accident, next you lose all your crypto in a tragic scamming accident
1 hours later 26547893 Anonymous
>>26543560
XDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD DDDDDDDDDDDD
1 hours later 26548096 Anonymous
>>26546548
99% sure IRS won't give a fuck about each transaction, ain't nobody got time to do all that mth, just more so the actual payout especially if you made big gainz.
1 hours later 26548105 Anonymous
>>26547553
Oh, so that qualifies for the convenient “zero dollar cost basis” rule :^)
1 hours later 26548300 Anonymous
Guys genuinely how do I pay my taxes? If I cash out 50k, is there a way to know how much I need to set aside? Can I pay it right away? I'm literally a retard who lives with his mom.
1 hours later 26548388 Anonymous (haitian cookies.jpg 474x304 32kB)
>>26543635
What? Eating dirt like their third world cousins isn't good enough for them?
1 hours later 26548458 Anonymous
>>26548300
Combine your income with any crypto you cashed into fiat. You get taxed for any additional income over 40k a year as a single filer.
1 hours later 26548510 Anonymous
>>26548300
Assuming you live in burgerland. Your first 40K of income are not eligible for capital gains tax. So if you earn 20K at work, and cash out 20K in gains, you pay no capital gains tax. Everything beyond that save 30%. Take 1/3 of all your profits and park it in a stablecoin (you can still lend it out for yield if you're into that)
1 hours later 26548625 Anonymous
>>26543560
live in dubai, whats a tax
2 hours later 26548980 Anonymous
>>26548625
how much money do you need to live in Dubai?
2 hours later 26549468 Anonymous
>>26546541
This guy is probably right. As long as you are a small fish you are probably safe paying the gains just from cashing out. There are millions of people working for tips which are taxable and the IRS don't go after them or the guy mowing ur lawn for 30 bucks
2 hours later 26549657 Anonymous
>>26546541
Nah, fuck that. I'm only paying taxes on crypto-to-fiat, period. As long as you don't do something stupid like do daytrading on a KYC'd exchange like coinbase, you're fine. tax on crypto-to-crypto trades on places like uniswap or non-KYC'd CEXes is practically unenforceable.
2 hours later 26549905 Anonymous
>>26548300
Honestly your best bet is to just buy some tax software and fill out all your forms of income on it. This will do state tax and shit too and you can see what you'll really owe that year. For the crypto forms, get them automatically generated by cryptotrader.tax after you link all your accounts.
2 hours later 26549954 Anonymous (1601968643445.jpg 470x470 31kB)
2 hours later 26550003 Anonymous
Staking income lmao
2 hours later 26550021 Anonymous
SELECTIVE CAPS IN OP
YOU ARE POSTING
IN A GLOW NIGGER
THREAD
REPORT AND HIDE
2 hours later 26550056 Anonymous
>>26543560
Sure, GLOWIE! Kek
2 hours later 26550138 Anonymous
>>26543818
lmao, based
2 hours later 26550310 Anonymous
>>26548510
Only if it's long term.
2 hours later 26550458 Anonymous
>>26545399
At the end of the year you have to report your gains or your losses even if it is 5 dollars. Just like you have to report the interest from your savings account even if its a dollar
2 hours later 26550609 Anonymous
>>26550458
This is not correct. You don't have to report interest if less than $10. You don't have to even file a tax return if you made less than $12k
2 hours later 26550626 Anonymous
>>26545399
You are correct. If you're just holding you don't have to report shit. That's called an unrealized gain and so far they haven't figured out a way to tax that.
2 hours later 26550772 Anonymous
>>26543560
I have not turned a single crypto of mine into cash that I withdrew
Am in the clear
2 hours later 26550843 Anonymous
>>26550772
What exchanges did you use? Technically you're required to pay tax on any crypto to crypto trade. Yes it's cucked, theoretically the IRS could root through all the blockchains and see your trades, but that won't happen because they don't have enough manpower
2 hours later 26550934 Anonymous (1560926470744.png 400x333 93kB)
>>26550609
>>26550626
>>26546220
Thank you bros :)
2 hours later 26550996 Anonymous
>>26545369
wrong. it is absolutely a taxable event.
3 hours later 26551375 Anonymous
>>26550843
>that won't happen because they don't have enough manpower
These things are mostly automated these days. If they have your wallet and name from cuckbase, and proof of numerous purchases, they can just plug in your wallet and get a high level view of what's going on.
but if their tools are as shitty as everything available to consumers, it's going to pop up with dozens of errors and exceptions no matter what happens. i'm really wondering how hard people are going to get boned through no fault of their own, but because the IRS incorrectly configured their blockchain scraper.
3 hours later 26551388 Anonymous
>>26550996
It is but I believe the gas cost loss is also a taxable event.
3 hours later 26551608 Anonymous
>>26549657
aren't they going to fuck you over when you deposit your ETH onto goybase and goybase leaks your address to the IRS and the IRS goes on etherscan and finds out you made 900 uniswap trades 5 years ago? Especially if 1 ETH = 100k or something 5 years from now.
3 hours later 26551690 Anonymous
>>26543560
The IRS can suck and tug my balls, one by one. Fuck em.
I do pay my taxes though, for now, because I don't have the funds to get away with breaking the law yet.
3 hours later 26551710 Anonymous (1611628505682.png 590x748 340kB)
>>26546280
Technically you don't have to pay shit till guys with guns come to your house for it. And if you own guns then you never have to pay.
3 hours later 26551857 Anonymous
>>26543560
Yes of course rabbi! I'm a good goyim sir.
3 hours later 26551861 Anonymous
>>26550843
Just wash it through monero lol
3 hours later 26551933 Anonymous
>>26551861
How does one do this in minecraft? Like how do you explain, for example, that your ETH appreciated 10x as much as it should have if you had not made any trades.
3 hours later 26551966 Anonymous
>>26546280
As long as you paid with FIAT it's not taxable. If you traded the crypto you bought with other crypto. Example, you're a pajeet shilling your PND scam. You trade your ether for rbc. That is taxable.
3 hours later 26552076 Anonymous
>>26551608
show me a single instance of IRS going after someone on the basis of etherscan data
3 hours later 26552129 Anonymous (1611629114234.jpg 415x604 181kB)
>>26551933
Nigger take your crypto and buy monero with all of it. Then make 10 new monero wallets and divide it up in random percentages that equal 100. Then convert that monero into a stable coin and hodl or cash out as needed. Idk if it actually works I just figure if you make it more work than it's worth then they leave you alone. Obviously buy new burner Obama phones with monero for each new wallet lol
3 hours later 26552132 Anonymous
>>26551608
What if before you send to coinbase, you send to a different wallet that has no uni transaction history and then transfer to coinbase? Not saying I would do this or that I have ever traded on coinbase. Just a hypothetical
3 hours later 26552187 Anonymous
>>26550626
Biden administration is working on implementing a fix for that though. Gotta pay reparations for saving and investing your money because it's not fair that you made a free account on an exchange website and Jamal didn't
3 hours later 26552238 Anonymous (1599336109427.jpg 411x358 16kB)
>>26543560
I've submitted an 8949 with literally thousands of trades from half a dozen exchanges, taxes paid. If they start coming after crypto people I'm not going to be low hanging fruit.
Plus there's this -->
https://www.propublica.org/article/ irs-sorry-but-its-just-easier-and-c heaper-to-audit-the-poor
3 hours later 26552309 Anonymous
>>26552076
>>26552132
when eth hits 100k it'll be worth it for them to hire a wagie for 20 bucks an hour to go through etherscan and find trades you made.
3 hours later 26552326 Anonymous
>>26552187
Jamals have plenty of robinhood accounts. It's not about taking from the white man and giving it to niggers, it's about a larger system of authoritarian control.
3 hours later 26552383 Anonymous
>>26552187
If they do this I'm out. I don't really think that this shit is feasibly possible though.
3 hours later 26552449 Anonymous
>>26552187
they are literally signing the death certificate of the us if they actually try and pull that off
3 hours later 26552595 Anonymous (E1E755D9-3895-4BDA-9B80-15119F7841B9.jpg 1536x1292 268kB)
>>26552383
>>26552449
Pic related. America is a sinking ship.
3 hours later 26552667 Anonymous
>>26552595
they're talking about it now because it's a changing of the guard. Same kind of shit was talked about when Obama got in to office in 2008. I don't see them actually putting this in to place though. The donors wouldnt stand for it
3 hours later 26552846 Anonymous
>>26551608
>>26552076
>>26552309
That's not how it works at all. When they audit you they're going to demand YOU give them all your trade history and proof of where the money came from.
3 hours later 26552855 Anonymous
>>26552667
Bigger government means more taxes. I’m not expecting it to be completely off the table over the next 10-20 years. The fact that it’s even a serious consideration is enough for me. America is still a sinking ship, with or without realized gains tax.
3 hours later 26552932 Anonymous
>>26552846
Lost it all in a tragic scamming accident. Innocent until you can prove me otherwise
3 hours later 26552958 Anonymous
>>26543560
When Trump is in jail; Otherwise I'm not sure what taxes do.
3 hours later 26552974 Vitalij_K
Imma buy the greatest Ahahahahahahaha
drop you wallet and cry in the corner
I will be cleverer and hold my base with top Cascade protocol
market volume will grow this month so I will become rich
3 hours later 26552976 Anonymous
>>26552932
yeah but if you cashed it out and are actually using the gains then you're still screwed.
3 hours later 26553000 Anonymous (image0.jpg 479x384 22kB)
>>26552855
Cant have a bigger government when you dont control the money. What will they pay IRS auditors/cops/federales with? Monopoly money?
3 hours later 26553053 Anonymous
>>26546361
You won't be taxes on the gains until you trade it. So transferring is pointless since it wasn't taxable at that point anyway. Or were you going to transfer then at that point sell for cash somehow?
3 hours later 26553138 Anonymous
>>26551933
Report zero cost basis short term gains would be the closest good faith effort here I think - assuming you couldn’t demonstrate cost basis or hold time.
3 hours later 26553250 Anonymous
>>26552846
>That's not how it works at all. When they audit you they're going to demand YOU give them all your trade history and proof of where the money came from.
alright irs, heres the ONE trade i did, i just held it for years. iron hands
3 hours later 26553273 Anonymous
>>26552383
>>26552449
Biden's first action was killing the oil industry. Canada's not just gonna stop selling oil because we don't buy it anymore. It directly benefits China who now can funnel it in from Canada. America is fucking dying.
4 hours later 26554093 Anonymous
>>26553250
if you can't sufficiently prove it then the best case scenario they will give you is to report zero cost basis. of course if you're just a poorfag then you're never gonna get audited anyway.
4 hours later 26554305 Anonymous (DDD03FB5-CE72-4E3A-A036-8266400EFDBA.jpg 550x550 29kB)
Yes sir I received $3000 in the uniswap airdrop. But you see, I lost it all in a project named after a hotdog
4 hours later 26554458 Anonymous
I only pay tax on crypto to fiat and have done so for 5 years and in mid 6 figure range and the ATO has never had a problem with me, they probably are happy I am not claiming my losses.
>t. seething that I have already send the cunts 100k this financial year when my kiwi mates pay nothing
4 hours later 26554894 Anonymous
>>26543722
Just don’t spend it like a stupid nigger. As long as you just hodl you can pay their 30+% and still be set.
4 hours later 26555258 Anonymous
>>26543560
Why would I have to pay taxes? I only hodl, never sell.
4 hours later 26555392 Anonymous
>>26554458
You pretty much only have to pay taxes on crypto to fiat anyways since that summarizes your net capital gains. The only thing the irs gets pissy about is if you make profitable trades without cashing out, which is stupid on their part since when you inevitably cash out it would be accounted for there, even if it's not within the same fiscal year.
4 hours later 26555594 Anonymous
i don't believe in it. some jewish trickery.
sharia law only when it comes to taxation, so .. no taxes.
5 hours later 26555661 Anonymous
>going to owe more in taxes than i can afford to pay because i lost everything trading after a beginners luck streak
its fucking over for me
5 hours later 26555947 Anonymous
>>26555661
fuck, can this actually happen because I'm in the same situation
5 hours later 26556077 Anonymous
>>26543560
I have never sold or traded a single coin. Spent about 30 grand total, made about 330k so far. I'll sell in 2030. If its worth nothing then, oh well
5 hours later 26556479 Anonymous
If you aren’t smart enough to figure out how to not pay (((taxes))) on your FUCKING CRYPTOCURRENCY then you deserve to get raw dawged by chicken swingers.
5 hours later 26556730 Anonymous
>>26546043
Imagine not filing your own taxes. Imagine the cost.
5 hours later 26556759 Anonymous (1520032721554.gif 650x705 38kB)
>Might tax unrealized capital gains
You know America is absolutely FUCKED when it's ideology claims to hate communism and yet fucking China, a "communist" country, has 0% capital gains taxes and it's average citizen pays less percentage in taxes overall than an American does.
I'm done being emotionally invested in America altogether, I hope it fucking burns to the ground.
5 hours later 26556822 Anonymous
>>26551388
>>26550996
Adding to this, while it is indeed a taxable event, you only pay taxes on the gains. So if you buy ETH at $1000 and convert it all to LINK a week later and ETH is still at $1000, you do technically have to pay taxes, but at that point it's X% of $0.
5 hours later 26557229 Anonymous (facepalming.png 372x366 332kB)
>what taxes do you mean tax man? I haven't done anything
>implying the IRS gives a shit until you turn your bitcoin into fiat
>implying the IRS is smart enough to trace your actions to a public leger with hundreds of thousands of transactions for millions of people
5 hours later 26557286 Anonymous
>>26556759
There's unironically no country where you get less for your tax money than in America. It's fucking ridiculous, and yet people want to give the government MORE money? I just don't fucking understand
5 hours later 26557326 Anonymous
>>26552595
I don't understand why they don't just fucking tax the Bezos and Musk dollars to de-incentivize rampant billionaire embezzlement, they'll have plenty of money that way
5 hours later 26557424 Anonymous
>>26557286
We're basically human livestock at this point, being corralled into tighter and tighter spaces and milking us for everything we're worth
6 hours later 26557834 Anonymous
Yeah I just requested RuneScape to send me all my grand exchange transactions, but they don't have my playerr-to-player trade history?
I'm really scared the IRS is gonna crack down on my digital assets! Maybe even seize them!
6 hours later 26557889 Anonymous
>>26557834
Turn those runescape transactions into fiat and you can bet your sweet little asshole that the IRS is gong to want their cut.
6 hours later 26558001 Anonymous
>>26548096
All we need is one based anon with a bot to report millions of transactions with microscopic losses to offset their bill and keep those niggers busy for decades
6 hours later 26558171 Anonymous
>>26557889
But they're already taxable events since I'm a burger. Maybe I can get around it (this is purely theoretical, almighty IRS) but if I feel like I have to buy bonds from now on and not pay membership by gift cards I bought with cash anymore since the IRS is so competent and legitimate. I'm just worried they'll come after my steam trading cards next!
Say, can anyone recommend me some tax software?
6 hours later 26559007 Anonymous
>>26543722
All trades are taxable events
6 hours later 26559075 Anonymous (3C5A2649-CB0B-4997-9D5B-5BB5B8A5386F.jpg 512x564 42kB)
Is it necessary to bother with this shit if I didn’t profit off my trades last year?
6 hours later 26559096 Anonymous
>>26559075
you might get more back after filing if you had losses
7 hours later 26559947 Anonymous
>>26554458
Kiwi here, what do you mean pay nothing? How can a kiwi achieve that?
7 hours later 26560020 Anonymous
no. never fucking selling. that would imply my bitcoin isn't a currency. fuck off and stop fudding.
7 hours later 26560054 Anonymous
>>26543560
>letting the government steal from you
lmaoing @ your life
7 hours later 26561128 Anonymous
>>26559947
No capital gains tax in New Zealand, so you pay no tax on crypto as long as you don't trade enough to be considered a business.
8 hours later 26561948 Anonymous
>>26543560
us is a joke
8 hours later 26562019 Anonymous
fuck the us. that is so fucking twisted and sick that they try to have you pay for unrealized USD gains. You have to pay to play if youre a little guy trying to get some spare change. They want you to pay for money you havent even made to pay for niggers and bombing arabs.
8 hours later 26562051 Anonymous
no, i will never pay taxes. you will never find me or outgun me. my specialty is robotics and IR tracking. go ahead and kick down the door glow nigger.
8 hours later 26562099 Anonymous
>>26562019
no, that was just a ashkenazi jew trying to get more gibs by starting a discussion. not going to happen. what americans really need is to challenge crypto tax under the 14th amendment but most the sharks that can afford to do it are too selfish or pussy.
8 hours later 26562353 Anonymous
>>26561128
If that's true, is the following another "midwit's take"?
https://amp.reddit.com/r/NZBitcoin/ comments/7pdnsp/tax_on_crypto_profi ts/
8 hours later 26562444 Anonymous
>>26561128
You have no idea how much I want what you said to be true but then again we have this shit:
https://www.ird.govt.nz/cryptoasset s/taxing
Please enlighten me anon.
8 hours later 26562491 Anonymous
>>26543560
I have a yarmulke in a glass case that I will don if the IRS ever shows up to my door and starts asking questions. Until then, keep your grubby kike hands off my bag
8 hours later 26562558 Anonymous
>>26562491
Jews have no problem Jewing other jews if it means they can benefit. The IRS will remain unstoppable.
9 hours later 26563048 Anonymous
>>26562444
Sorry anon but people are kinda retarded. We have no capital gains tax in nz it’s true but it just gets marked down against your income so probably looking at 33%
9 hours later 26563128 Anonymous
>>26552132
you can trace the transactions back, anon...
9 hours later 26563297 Anonymous
>>26553273
> America is fucking dying.
By the end of the first Biden term, most people will unironically be trying to escape to Central/South America or Southeast Asia. North America as a whole is going to quickly look like fucking Africa.
9 hours later 26563302 Anonymous (Theft.png 1560x430 47kB)
>>26546541
I got bad news for you.
9 hours later 26563340 Anonymous
Been evading for five years already. Suck my dick taxation is theft.
9 hours later 26563366 Anonymous
Imagine still living in the shithole called USA.
Imagine not living in Singapore.
LMAO
9 hours later 26563372 Anonymous
>>26563340
Tick tock Jeffry, We are coming for you.
9 hours later 26563519 Anonymous
>>26563372
Suck my dick you kike I’m in Asia and the Jews fear the Samurai.
9 hours later 26563562 Anonymous
>>26563519
We'll take your gains just as fast as we took your foreskin.
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