crypto to crypto is a taxable event for Burgers

> crypto to crypto is a taxable event for Burgers

So how the fuck did you calculate this shit, boys?

I thought I was about to be done doing my taxes, and now I'm pic related

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simple dude, its the same as stocks. you cashed out your shitcoin for btc? same taxation as cashing out stocks for $$$.
so essentially:
shitcoin goes from 1$ to 2$
if you sell, for anything, you get taxed on that gain, which is why its kind of fucked. so you cash out for BTC, then BTC drops, but you can claim capital gains on BTC loss if you cash out to another crypto. so its not that fucked, but its really not simple either. you could take your total gains and just pay short term capitals gains tax on that. the only way you could argue up to long term capital gains is if you kept your hands on a shitcoin for more than a year.

Dont calculate and dont report
Stop being a beta male

It's fucked up. I had to pay $65k in taxes and my fucking portfolio was only worth $14k. Only 38 monthly payments left

>reporting crypto trades
Ill report my total if i ever cash out. They can kiss my ass until then.

lol

this doesn't tell me anything

> tfw no tall skeleton gf

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Not tryna get fucked by the tax man.

He always gets his.

I stopped trading near the end of 2017 when it was still like-kind
Chasing pumps was fun.

if you're trading on coinbase...sure. how the fuck is the tax man going to know about your tradeogre shitcoins though. don't be stupid....nobody is looking over your shoulder