Crypto to crypto trades are a taxable event
Crypto to crypto trades are a taxable event
Hunter Jones
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Ayden Gutierrez
w-wait... can you repeat that?
John Diaz
You would still die from pic related
Lucas Ross
It should only matter if you made a gain on crypto 1 and then you bought crypto 2 at that higher price.
If you buy eth then immediately buy a shitcoin the tax will be negligible/nothing.
Kayden Nguyen
i always thought that was a nail clipper until now
Chase Davis
>YOU ARE ONLY TAXED ON GAINS
>YOU ARE TAXED AT 1.5% USD VALUE
>YOU ONLY HAVE TO PAY IF YOU MAKE MORE THAN 15 GRAND
Nicholas Foster
sure uncle sam, ill pay my taxes. just prove thats my account.
oh whats that? you cant prove it?
unfortunate lad.
Nathan Brooks
It’s only taxable if you traded for a gain. If you hold the new crypto and it goes up and you trade again you also pay taxes on that gain.
It’s too much work to keep track of all the gains and losses. Just remember to pay taxes when you cash out like a good goyim.
Dominic Morales
>You are taxed at 1.5% USD value
so if I make 100 dollars, I only need to pay tax on $1.50 of it?
Adam Russell
Yes, but then when you report that you owe $1.50, the tax return would come back $0, $0 because you did not make over 15 grand.
Income tax from a job you usually don't have to pay if you make less than 25 thousand, last year it was $19,400 in my state before you had to pay taxes.