You ARE paying taxes for your cryptos this year, right?

You ARE paying taxes for your cryptos this year, right?

>but I do not pay ou-

Does not fucking matter. You HAVE to pay taxes even if your cryptos are still, well, cryptos and not hard cash.

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I made a little over $77k, but never cashed out. I only have around $5k now. What do I do?

t. already paid taxes

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>You HAVE to pay taxes even if your cryptos are still, well, cryptos and not hard cash.
Get fucked with a red hot steel dildo shareblue

I'm not a fatburger so of course I'm not paying taxes

Dude,

If you bought 5k worth of BTC in 2016

You held through 2017 and it increased to 100k

And then, in 2018 you cash out.

AND YOU DID NOT PAY YOUR TAXES FOR 2017

You will

1. have to pay taxes back for the profit you made in 2017
2. have to pay taxes for the actual profit you made in 2018

Deal.With.It

The tax system here in Europe or the IRS in America will utterly CRUSH you if you try and fuck with them.

>And then, in 2018 you cash out.

>THE ABSOLUTE STATE

you dumbass fucking nigger, there is nothing about taxes for 2017. There is nothing to hold anybody to pay taxes for 2017 as they had nothing for that year.

But sure keep trying to scare people with your paid shillery, fucking kike.

lol. Or you can just wait until you can buy shit with your crypto - which is probably only a couple years

Don’t bother paying tax. Actual person here. I have never filled out a tax return. I’m 40 and nobody has ever bothered me about it. The people paying tax are cucks basically

Dude the government is beyond traitorous. Kill. Your. Self. If you work for the IRS shake your head. You should be ashamed.

Nope, most people just want the money on their bank account to invest it in shit that allows them to achieve financial independence.

And to get the money onto your bank acount, you HAVE TO PAY TAXES.

You will get fucked sooner or later. Here in Europe, the tax machine is slow, but absolutely precise, and they WILL FUCK YOU UP SOONER OR LATER:

Doesn't change the fact that you have to pay it, does it.

I'm just trying to help you guys to not fuck up your entire crypto career by not paying taxes.

You will get FUCKED UP.

>You will get FUCKED UP.

second this
pic related

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>here in europe
Not so fast hans, Franciszek...
no taxes in shitaly whatsoever (not like le is going to ever enforce them)

AHAHAH This

Face it, even if you do not cash out, you have to pay taxes.

DEAL. WITH. IT.

>Face it, even if you do not cash out, you have to pay taxes.
I hope you get fucked with a spiked baseball bat.

>who would just go on the internet and tell lies

Dude, prove to me that you DON'T pay taxes without cashing out and I'll admit that I was wrong.

YOU FUCKING CAN'T

>Dude, prove to me that you DON'T pay taxes without cashing out and I'll admit that I was wrong.
Go away feds

You scared jew?

Not true dipshit. Capital gains are applied to crypto converted to fiat over the course of 2017. If you didn’t cash out you don’t owe taxes.
t. some dude who went to an accountant

it's so incredibly sad to have such low self-esteem even in your fantasies your dream girl is dumpy looking

>be german
>hodl 1 year
>cash out gains and dont have to pay any taxes

this is so fucking easy

Stop being such a fucking pussy. Literally no one but boomers are reporting their crypto trades.

i'm from hungary. went to one of the most well known tax advisors of the country and he told me to only pay taxes on what i cash out.

>Tfw I live in Denmark

Sorry bros.

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oh nvm, what you're saying is technically correct. if you cash out in 2018 you'll pay taxes on your accumulated profits throughout the years.

however as long as you don't cash out you don't need to pay taxes on your gains (or losses) here.

and if crypto will actually prevail, you'll never need to cash out some of it.

> be american
> get cucked

Your bags get heavier each week bigger. I make 500/day day trading poor nigger. And yeah I bet they wont ask me why Gemini deposits 2k+ weekly into my bank account. How retarded are you stupid niggers? You'll end up getting fucked no matter what you do. Stay poor

Not true. If you transferred it to another crypto it's still a taxable event. Depends where you are of course.

>crypto is classed as an asset for taxation purposes
>most accountants have no idea what they are talking about

t. lawyer at a major crypto company

Seem to be a lot of Anons unusually concerned about others paying tax on crypto lately. Just an observation.

hey idiots. if you live in america you dont have to pay ANY taxes until you cash out. Pro tip: Holding for a year or more decreases your capital gains tax from 50% to 35%.

go pay taxes faggot

ye this 'concern' is unironically just shorter's fud (people won't invest in crypto because they'll get raped on taxes!!)

>being an amerimutt
AYYLMAO

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>You will get FUCKED UP.

Sure.
I know one case when a guy actually declared his crypto gains, paid the taxes AND got fucked because of it.
You know how it happened?
After he paid the revenue service just sent another letter saying that they have made a (((recount))) and now he has to pay more for the same year. Being a good statist cuck (like you), he obliged.

The revenue service sent him a second letter with the same message. Another (((recount))) for the same tax year.
Only then he filed a lawsuit against them and has to pay a shitton for lawyers. If he wasn't a cuck and kept his mouth shut (like everyone else does) he would have avoided the entire thing. This is in the EU, btw.

>be american
>pay all your gains to the IRS to defend israel
>get shot

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Kys bootlicker

használsz discordot vagy valamit?
adsz valami elérhetőséget?

>You HAVE to pay taxes even if your cryptos are still, well, cryptos and not hard cash.
no you don't, that is retarded

that 6 is out of the league of most of the spergs on this board.

>live in the Netherlands
>1.2% crypto tax under 25k
>student debt is deductable
>mfw

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So you made 77, and then lost 72? Imagine showing the transaction logs to the taxman!

>12:53:58 - buy @ 200
>12:54:32 - sell @ 180
>12:55:20 - buy @ 220

wrong on so many (((selected))) levels, kek

There's enough cucks paying that I should be good