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2021-02-05 11:09 27859106 Anonymous United States (PicsArt_11-17-07.22.20.png 2000x1053 40kB)
How do I leagly avoid paying crypto gains taxes?

4 min later 27859528 Anonymous
>>27859106 >send video email to state department ripping your passport and asserting your natural right as a human being to fuck off however you want

5 min later 27859567 Anonymous
Boating accident following a laundering through monero

10 min later 27859952 Anonymous
>>27859106 I'm going to send your IP address to the Government so that you are forced to pay even more

19 min later 27860674 Anonymous
>>27859106 By breaking even or by taking a loss.... gains are taxed MF'er

35 min later 27861901 Anonymous
>>27860674 >buy high sell low it's all making sense now

36 min later 27861966 Anonymous
become a sovereign citizen

36 min later 27861970 Anonymous
take out loans with crypto collateral pay the loan with crypto

37 min later 27862016 Anonymous
>>27859106 I just reported you to the irs. Good luck.

37 min later 27862025 Anonymous
Hire an offshore lawyer. No other credible answer could possibly exist ITT

37 min later 27862040 Anonymous
>>27859106 By selling your old bags of shitcoins that have gone to 0. Losses offset gains within the same calendar year.

37 min later 27862070 Anonymous
>>27859106 Make poor investments to offset your gains.

40 min later 27862295 Anonymous
>>27861970 but when you pay the loan with crypto that's a taxable event.

42 min later 27862373 Anonymous
>>27859106 Marry a girl, make her your housewife, quit your job and cash out $80k a year at 0% capital gains tax. Completely legal.

45 min later 27862605 Anonymous
>>27862373 >marry no one >cash out 80k >pay 6k in taxes

47 min later 27862734 Anonymous
>>27859106 Pay your taxes you fucking degenerate. You are inviting punishment not only from the law but also from God.

52 min later 27863162 Anonymous
>>27859106 I just decided to bite the bullet and pay $59 for CoinTracker with Coinbase's integration. I've been mostly in LINK and was feeling stressed about a winning ETH swing trade biting me in the ass on taxes, but I only owe $2,500 on short term capital gains despite cashing out $20k and trading $140k of volume in 2020.

53 min later 27863215 Anonymous
>>27859106 never sell

53 min later 27863226 Anonymous
>>27861970 you still have to pay capital gains on this

54 min later 27863272 Anonymous
>>27859528 just remember to pay the citizenship revokal tax

54 min later 27863293 Anonymous
>>27863162 I owe $58 from crypto trading and I'm not going to report it :^)

55 min later 27863344 Anonymous
>>27862295 That's why you don't do that. You take out the next loan, pay off the old one with that and let it run.

55 min later 27863359 Anonymous
>>27859106 Buy citizenship in a country without capital gains tax and get the fuck out of this decaying nightmare.

57 min later 27863464 Anonymous
>500k gain >tax man takes 50k I don't like this

59 min later 27863615 Anonymous
taxes are optional if you aren't spending money like a nigger who won the lottery

1 hours later 27863683 Anonymous
>>27859106 >on no my bitcoin got stolen and the thief cashed out in the Cayman Islands oopsies >now he won't stop buying me shit off of amazon and sending it to my house someone stop this madman

1 hours later 27863760 Anonymous
>>27863615 unironically, pay tithes to a church or make donations to charities you actually care about. donations are tithing are both tax deductible, and that money could potentially go to a program that you actually care about. i dont give a flying fuck about iranian women being able to read but i do want the people in my community to eat. either dont pay taxes at all or make enough charitable donations to where you pay as little taxes as possible

1 hours later 27863766 Anonymous
>>27859106 >move everything into XMR >move XMR into BTC on a different wallet >move BTC onto hardware wallet >stash hardware wallet for 1 year >claim you found an old BTC wallet

1 hours later 27863803 Anonymous
>>27859106 That wouldn't be wise, Chris from Fort Lauderdale. Watching you.

1 hours later 27863804 Anonymous
>>27859106 Nice try glowie

1 hours later 27863835 Anonymous
>>27859106 by not selling

1 hours later 27863871 Anonymous
>>27859106 Move to Puerto Rico, It's part of the US if you didn't know. Thats what alot of the 2018 Bitcoin Billionaires did. Or move out of the country. You only pay on gains over 90,000 Sell ALL your coins that are at a loss in December and but them back in January. You can offset taxes legally that way.

1 hours later 27863911 Anonymous
>>27862734 >You are inviting punishment not only from the law but also from God. This is the best advice here. It is a fucked up pain in the ass but you should just find a way to report so you won't get ground up by the machine, squirell away some nuts for the yearly taxocaust and take pride in at least beating the tax rate. Just remember a bank would pay exactly fuck you in interest for the savings that you instead put into crypto. I've been thinking of taxes as a kind of negative apy effect and it really puts things into perspective.

1 hours later 27863951 Anonymous
Never unload any position in excess of $400k without consulting with a lawyer. And get a good lawyer. Their retainer is going to be pennies compared to what you might pay going about it on your own.

1 hours later 27863962 Anonymous
>>27863344 But doing that still slowly bleeds you from interest, no? Eventually you reach the point where you've cumulatively paid more in interest than you would've paid if you just did taxes.

1 hours later 27863978 Anonymous
>>27863766 >now cost is zero >pay capital gains on all of it Nice work, retard

1 hours later 27864017 Anonymous
>>27863803 Nice try, Chris from Fort Lauderdale.

1 hours later 27864037 Anonymous
>>27863871 This is actually the way. >sell everything for stablecoin on Dec 31st >convert it all back on Jan 1st EASY

1 hours later 27864107 Anonymous
>>27859567 Okay can you explain how I turn monero into legal US tender and deposit without the irs knowing and shooting my dog?

1 hours later 27864143 Anonymous
>>27863978 How would they know? You don't actually have to report the "found wallet". Just don't cash out at KYC exchanges.

1 hours later 27864229 Anonymous
>>27864017 Mind your business, Eric from Wichita.

1 hours later 27864480 Anonymous
>>27863962 Run the numbers. Your first loan has to be structured in such a way, that assuming X% increase in BTC's price per year on average > all interest will be payed when the loan is due (for example over a 5 year runtime) > buy BTC, so that once the loan is due, you have a greater or equal value sitting here to take out the next loan > whatever fiat yield you want to have over these 5 years, say $3000 a month Of course you need an assload of money to begin with. As long as the price increase in BTC is larger than the interest on the loan, this works out. If you assume very conservative numbers for BTC, like 10-20% increase in price per year, this is a very save bet. Kind of like what Saylor did with his bond offering. You won't get 0.75% on the loan, though. BlockFi offers 4.5%.

1 hours later 27864495 Anonymous
>>27859106 by never selling

1 hours later 27864514 Anonymous
>>27864017 >>27863803 Guys I didn't do anything wrong

1 hours later 27864609 Anonymous
>>27863951 by unload do you mean before you convert into usd or before you send it to your bank?

1 hours later 27864837 Anonymous
>>27863911 Oh and I also imagine a situation where you make it, and decide "ok NOW I need to do my taxes" and become accountable for years of missing past tax data relating to crypto. Times are achanging and I imagine an auditor being unboomer enough to use a simple dapp to look into crypto-to-crypto for any wallet address that had been tied to your identity via some kyc crap the monkey in question has filled out. You'd have to pull some untouchable caste tier scam off like creating a fabricated etherscan pdf/xls and blindly hoping the guy scrutinizing you is a sexagenarian. Like whatever you do to compensate is gonna be some stupid crap, on some level, including capitulating and paying extra for guilt fees lol. Just pay the big brother standing army owners their protection fee and save yourself the risk of becoming an extremely fucked jackass.

1 hours later 27865244 Anonymous
>>27864837 Also, make sure you convert to a stablecoin on Dec 31st and back on Jan 1st so that you can offset gains with losses and then rebalance your portfolio!

1 hours later 27865375 Anonymous
anybody ever try some bitcoin ATM's or just purchasing prepaid cards / things such as that? do they work well enough?

1 hours later 27865511 Anonymous
>>27859106 Even Coinbase doesn't report your crypto gains anymore. Not that you don't need to declare them yourself, of course.

1 hours later 27865679 Anonymous
>Send to external wallet from coinbase >Send back to coinbase from external wallet >Download coin tracker and link coinbase account >Coin tracker says I am at a $708 loss from 2020 despite taking out $3500 from uniswap freebies Can't argue with that.

1 hours later 27865741 Anonymous
>>27865679 Happened with me on Blockfolio. Apparently my average buy in for Ethereum is 2100 kek

1 hours later 27865822 Anonymous
>>27859106 Just don't report it lol. Last year only something like 800 people reported holding crypto to the IRS. They can't arrest everyone if no one reports, and if they do decide to go after anyone it will only be the massive holder, because they're the only ones worth it if they have to pick and choose between millions of people to audit.

1 hours later 27865998 Anonymous
>>27865822 Last year only 800 people had any gains

1 hours later 27866194 Anonymous
>>27864480 Liquidations are taxable event as well

1 hours later 27866459 Anonymous (1558011770402.gif 500x284 1830kB)
>>27859106 Americans pay taxes after crypto holdings? In Yurop we only have to pay taxes on what we cash out.

1 hours later 27866582 Anonymous
>>27863464 >you still have 450k

1 hours later 27866583 Anonymous
>>27862605 kek thats not bad. i have trouble making it to long term taxes tho

1 hours later 27866790 Anonymous
>>27866583 Single filer has a capital gains threshold at 40k; married 80k- after that 15%, you're only being taxed 15% on the next 40k for short term capital gains.

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