I've paid taxes on the crypto I've converted to fiat; however, I haven't paid them on crypto to crypto trades (Mainly moving my ETH to BTC to buy VEN and XRP). Am I fucked?
Taxes
Joshua Ross
Daniel Davis
>Am I fucked?
Yes and not in the good way.
Hudson Stewart
Neither did I. I put in $20k and cashed out $20k, but my crypto balance was $100k. No way I'm I paying $40k on money I never got. Now in jan I cashed out $40k of that so I will pay estimated taxes on that for next year.
Jack Diaz
>paying taxes
Chase Foster
>falling for the tax meme
oh ano
Ayden Brooks
same here
Do not worry, atleast you have paid something
meet a tax consultant please
In worst case you would be paying interest on the unpaid amount plus the unpaid tax if you do it within a year
Nathan Howard
you only pay on crypto to cash conversions lol there's no regulation in place for crypto to crypto, as they don't and can't figure out how the fuck to classify it
Jace Morgan
Just make sure you paid taxes on fiat that went to your bank, or maybe what you traded on cuck base if they send you a 1099. Even if you get audited they will look at your bank accounts and see you didn't get any extra money.
Nicholas Thomas
If you're in the states and not paying for your crypto to crypto trades you're about to get ass blasted by the tax man
Angel Sullivan
What exchange did you make crypto to crypto trades on?