I am seeing a tax specialist in a few hours.
Do I REALLY have to bring all four pages of my shitty little crypto trades I did in 2017 if it's less than $2k? Do I REALLY have to convert everything?
This is fucking bonkers.
I am seeing a tax specialist in a few hours
Dylan Brooks
Other urls found in this thread:
cryptocoremedia.com
irs.gov
twitter.com
Elijah Edwards
Yes, you do.
Jose James
What if I kill myself instead?
Lucas Ross
Read this:
cryptocoremedia.com
The only not retarded article on crypto taxes I found.
Basically, yes you do report your trades but you owe your taxes only on realized gains.
Realized and gains being the key words here.
Gavin Davis
The catch being that trading crypto for other crypto or buying goods / services also counts (barter transaction).
Jason Kelly
You're going to a tax specialist over 2k??
Benjamin Thompson
>This is fucking bonkers.
Are you UK?
Liam Hernandez
Cryptos are treated as property.
How are the barter transactions taxed?
I'm asking because I sincerely don't know.
If it's anything, other than taxing the realized gains resulting from barter, then I have no clue how this is legal and how it's not being challenged.
If you barter apples for oranges and oranges are worth more and you ate it, but not sold it, then you still owe the tax on the imaginary price difference?
And will the IRS take part of your orang3s as a form of payment or are you being fixed to sell your oranges and then pay the IRS?
If you are being forced to sell your property to acquire legal tender then how is this legal?
Grayson Martin
No, don't bother reporting it, for $2k? That's fucking stupid
Tyler Edwards
*forced to sell