Let's talk about that little fact of life we call taxes. Primary subject is American taxes, but discussions of all tax regimes are welcome. Remember, TAXES ARE DUE MIDNIGHT OF APRIL 15TH! THAT'S NEXT MONDAY!!!
LONG STORY SHORT: Cryptos are taxed as stocks. You DO have to pay capital gains on them, and there is NO minimum for reporting. The IRS *IS* targeting exchanges and wallet services for customer information, and they CAN link your accounts to you.
>Disclaimer: The TaxLoli is not a licensed accountant, lawyer, or tax preparer in any 3D jurisdiction. All information posted here is for casual reference only.
What are the credit cards with the best signup bonuses that I can use to pay my taxes?
Dylan Howard
That's such a phenomenally stupid idea that I will not take the time to research it.
Ryan Robinson
How the fuck am I going to find a tax specialist who can not only handle Canadian and us taxes but crypto on top of that.
Jace Nelson
Find someone who specializes in the first two things. The third is easier to address when you've got the other parts down.
Parker Bell
>The IRS Criminal Division recently assembled a team of 10 special investigators that will focus specifically on cryptocurrency to evade taxes and perpetrate other financial crimes. KEK A fucking skeleton crew Next bull run theyre gonna have a fun time. Yeah im not paying shit, irs-kun
Easton Lee
Australia is unfortunately the same as the US and crypto to crypto is a taxable event. Been using cointracking and once you learn to use it is brilliant. Took me a while to add all the missing trades e.g. etherdelta, missing withdrawal/deposit data from Poloniex and Bittrex. Now it is perfectly up to date when I import Binance data weekly. Feels good.
Last years losses mean a healthy tax return this year by wash trading. How do you guys manage your trades?
Brody Bell
People who got into Bitcoin super early never need to actually pay taxes on gains because they can just hold the coins and only cash out small amounts when they feel like it... And they just keep getting richer and richer...
Caleb Mitchell
So how do I prove it? I traded back and forth between two privacy coins and wound up with 300k in losses. I will carry that over every year but I'm also wondering how he minimize tax impact from 50k link. I can't remember if I bought it or friend gifted me either. Wondering how I would prove whichever way I get it if I can ever remember.
