The only guy I know who was into crypto tried cashing out and never got anything

The one time it's good to be a krautfag: Over here it's tax free if you held it for at least a year.

>I just cashed out btc like a month ago
Prove it.

fucking idiot
BTC is already cash
wtf you think an EXCHANGE is for?

do you literally want a screenshot of a bank statement?

Yes let me pull up banking records to prove to some stupid nigger on the internet that I have money

Attached: 1561332915164.gif (600x331, 2.28M)

this is a fair point too.
this year i bought more stuff in btc than i did in whole of 2017/2018 together

What are the tax implications of buying with BTC? How do they even tax BTC when they don't measure in sats? I saw some user claim that if you purchase something with it you still have to pay capital gains or something

Yes.

Interestingly convenient.

I'd rather go to prison than give the government 300,000$ so they can pay for Tyrone's gender reassignment surgery.

i never heard that before
i know in my ltd co i have to pay corp tax on gains
obviously personal btc going into fiat gets cgt

Every time you buy Crypto, that IS someone cashing out, you fucking retard.

Do you have any good resources for learning about taxes for crypto? I'd rather not have the SEC crawling up my ass when I try to cash out. Also since you mention corporate would it be better to form an LLC for tax purposes or is it too late post purchase for this? Assuming the things I already own now with no LCC or alternative

Pic related. Cashed out 1K of my trading gains from the recent pump. From coinbase the most normie off ramp ever to one of my personal high street bank accounts. They said it would take 5 days, it took 3.
Do you seriously think we're all joking when we say we can cash out?

Attached: CashOut1.png (803x77, 3K)

Yet I have never seen someone do it. Funny.

This doesn't prove anything at all to me. Might as well have made that picture in paint for all that matters.

that looks like you put $1k into coinbase. thats not what cashing out means, you are just giving coinbase money.

err I'm UK mate
So the reason I started buying direct from company was because i didn't want to be paying myself 10K a month and getting taxed up the wazoo 50%. Income tax in UK is a fucking joke. I just buy with company funds. You have to do AML/KYC usually of your company which isn't the usual 3 day shit... can take weeks u gotta prove ur income etc show invoices etc ballache.
my resource is Jow Forums and my accountant. between the two i think i got it sorted. just keep accurate records u be fine.
sorry not much help to you.

You've never seen anyone give you crypto for your dollars? Who do you think you are paying?

FPI.
Faster payments IN.
INto my account from coinbase.

Nah it's all good any information helps, if nothing else I know a bit more about UK tax laws which never hurts because you never know

It used to be a bit of an issue. Now easier for me to cash out of crypto than to cash out of my bank account. If I want to I can lend it out at 7% minimum which is also much better than my bank account. It's more liquid and with higher returns even if I'm just all in on stablecoins.

Attached: coinfloor.png (607x233, 12K)

I’m a poor fag and put in 250 at 3k which 2x so I took out my initial investment through Coinbase and was added to my account three days later, I should’ve kept it in but I too was skeptical and wanted to make sure I could actually withdraw it. Even though I didn’t try to withdraw a large amount like 10k or some bullshit which would be stupid to do at once cause that’s stupid hot and banks would notice I’d assume lower amount 1k max will transfer flawlessly

An entire board devoted to crypto, and not a single soul can post actual proof of cashing out when I ask. We can in fact see a lot of willfull misdirection, ignorance, stalling and cope.

If I had put even a cent into crypto, let alone my entire savings, this would really unnerve me.

this is true.
there's a little bank in the uk called clydesbank or something.
some dude cashed out 50k and they basically took his whole account.
eventyally after LONG battle he got his money back since in the UK we have some laws i think about this stuff but my god that pain i wouldn't want
way i see it in 3 years it'll be fuck the banks i won't need to "cash out"

okay bye
we're just trying to help

Welp... We arrive at this point again. Where another poor soul finally realizes that crypto is a scam because you can't cash out.

You LITERALLY can't fucking cash out. Seriously, try it. You wasted all your money on internet bucks. There is no way to convert it back to fiat. All those "exchanges" that claim to deposit your money into your bank? Those are scams, the deposit never goes through. All those people saying it isn't a scam? They're shills for the scam "exchanges."

Anyone who tries to refute this post is a scammer shilling for scammy exchanges.

Kys

Want to help? Post a single proof you can actually cash out from crypto.

It's because nobody cares to show you and the post is so stupid that it's an obvious troll post. If you're actually being genuine I feel bad for you and you should leave immediately or maybe DYOR.

Nobody here cares what someone who doesn't even understand the base level thinks, it's really that simple.

>cashing out

Nice try IRS, I have not cashed out a single penny ok?

i did that screenshot
i know ur just fudding now mate
or dense lol

Its the IRS trying to target people for audits.

ur pretty funny actually now i re read this

Attached: kek.gif (245x207, 2M)

I'm a good goy and pay my taxes though. If there are any IRS agents reading this and know my IP send me a job offer please

>market worth hundreds of billions
>all fake

Ha ha ha, let me ask you a question, HAVE YOU ACTUALLY TRIED to cash out? at least ONE fucking time? If you haven't go and see for yourself. There's plenty of people on the internet already realizing it, that it's all a sham; this shit is going to explode at any time. Consider all your investment a loss and just start investing in REAL things instead of "muh digital assets".
Don't say I didn't warn you.

No I have never cashed out or made any trades, held only bitcoin for over 2 years tax man. I promise I will pay you when I do ok?

1. Buy whatever random stuff you want off of craigslist, tons of normies accepting crypto. Cars, whatever you're into. Use PayFair to secure the transaction. You could always flip a car or 2 later for fiat. You can burn through tens of thousands this way. You can likely burn through your entire initial investment this way and then some. It's fucking "currency." Spend it , there's no actul need for fiat.
2. Cash out and just pay taxes on the entire USD transfer to your bank. Pay normie short-term gains. The IRS will never fuck with you. You did NOTHING to earn these these gains and it's basically money you stole from Chinamen and reddit normies anyway.

What's easier, post proof of cashing out and refute the argument for life thoroughly, or keep denying it the "no u" way and play dumb every time you're asked again to post proof you have ever cashed out?

Jow Forums? More like cope central.

Again, you'd think in an ENTIRE BOARD, at least one vengeful autist would take it upon him to prove me wrong. Yet no a SINGLE guy has done so. Be honest with yourself, doesn't that raise a a little doubt?

>literally nobody recognizes this pasta
ok, if the link euphoria wasn't a big enough sell signal, there it is
friendly reminder bitcoin just went 350% off tether printing, not real fiat entering the market

This is pretty funny but yea I've cashed out before

Not if you live in a civilized country.

*Sigh.

Have YOU ever tried to cashout? Stupid fucking cunt.

Just where do you think your fiat goes, when you buy Crypto? Do you really think it just ALL goes straight into the exchange's pocket, and the dude actually selling it gets fuck all?

Attached: Cashout.png (773x142, 9K)

You don't cash out crypto. You cash out your fiat