How do I pay taxes on my stack?
I don't wanna get fucked by the IRS, I have been 100% honest for 2+ years and don't want this to ruin my streak.
How do I pay taxes on my stack?
Landon Moore
Jacob Powell
long term capital gains.
Joshua Rodriguez
I thought I had to pay property tax if I held it year over year?
Liam Robinson
...no, just long term capital gains...use a website like bitcoin tax, they do the paperwork for you.
Asher Taylor
thanks :) so I can hold this year over year and just pay when I sell?
Brayden Thompson
Yes, but remember you used btc to buy chainlink...so you have to pay on the "gains" you made on btc...even if you just held it for a minute on coinbase. Use a crypto tax website and input your api from coinbase and binance etc, it does the calculations for you, it's the IRS form 8949
Logan Lopez
Daily reminder that you need to pay tax on unrealized gains to help regulate crypto.
Samuel Garcia
>forgot that I spent like 300 on cypto and bought some chainlink for 100 bucks just to fuck around, didn't mention it on my taxes
am I fucked or is this number so low that they don't care
Jose Roberts
what if u stake ur linkies and get profits from that (taxes)
Elijah Fisher
We're blessed here in the US... long-term capital gains is only 20% max. Some of these EuroLinkers are going to take it up the ass hard.
wtf, is this true?