How do I pay taxes on my stack?

>wtf, is this true?
Yes, barter transactions are taxable, which is what using one crypto to buy another crypto is.

I'd say you're fine. They have bigger fish to fry.

You don't pay taxes if you don't cash out

Yes you do. There are exceptions, but in general if you exchange one good for another good / service at a higher rate than when you initially acquired that good, that's a taxable event. It doesn't matter whether or not you sell the good / service that you obtained.

You have to pay tax on your trades, which is why swinglinkers aren't as smart as they think they are, all those transactions they make are taxable. Sounds like a pain in the ass to me.

Man, I hope so. Thanks for the encouraging words user, I had 10000% forgotten that I'd ever bought crypto after everything took a nosedive

this, fucking sucks. Stopped me from daily trades last year. Unfortunately, the best move is to buy fiat linked crypto and just sit on it for over a year before selling. Makes it hard to buy alts, which is why I am very much for Normiebase adding alts. Once they add LINK i'll be too comfy for comfort

i thought if you cashed out in under a year its just taxed as earned income. Of course it gets taxed wayyy more but do they still tax individual trades?

Lmao you have no idea what you are saying. In some European countries you pay very little capital gains. In Netherlands, for example, it's something like 2%. The fact that any EU member can open an account in any EU country makes this fairly easy even if your country has high capital taxes however most have capital taxes as high as in the US.
Anyway, it's you ameritards who are gonna take it in the ass

I won't, been sitting on my stack a year so only subject to long-term cap gains when I sell.

Virtual currencies are notvreal and cannot be taxed. Are they going to audit my coin balance in mario and claim I owe for like kind trade to racoon tail? IRS threads are bear fud.

Not if the price dropped though. But also aren't you at a loss at that point no matter what because of the fees?

Here's what I have been wondering for a while, but didn't bring want to bring it up as potential fud: When you decide you want to stake, does that count as realizing your gains? So if you have been holding for over a year and start staking, do you have to now sacrifice a huge chunk of your stack that would otherwise be staked?

>paying taxes

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The IRS won't know what I did with my money.
How would they know I spent it to buy a good/service?

Because you report it. Not reporting it is tax evasion, and if you do it enough to where your assets and your reported income don't make sense then you can get in deep shit.

sick meme you fucking loser, you pay taxes faggot. now kys

Only if you lick my boots first

I’ve actually talked to multiple cpas and they pretty much don’t think you should pay taxes unless you cash out. So do what you want boys but I’m probably just gonna say fuck it and pay taxes in a few years when I cash out big, it’s not like any exchanges are even reporting this shit to the irs. And the dude worried about 300 dollars, holy kek kid the boogie man isn’t going to come for your lunch money you’re fine. Fuck even any bank deposits under 10k, as long as you’re not structuring, isn’t fucking reported to the irs at all.

If you made less than $4000 in gains over the year you don't have to pay.