Think Cryptocurrency Is Confusing? Try Paying Taxes on It

8 comments

• realDougster

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  7 years ago

  Just take the stripper approach: Taxes? What taxes?
• JohnSmith69

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  7 years ago

  Fuck. Dougster never mentioned that I’d have to pay taxes on my crypto currency.
• max_starr

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  7 years ago

  I've paid taxes 3 years on crypto now, it's easy. Use bitcoin.tax website to import and organize your buys and sells...generate your 8949 and give to your accountant or import to TurboTax or other software. I help an accountant with crypto taxes now...
• flagooner

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  7 years ago

  You aren't required to pay taxes on crypto currency. I don't know what kind of malarkey OP is trying to peddle here.
  
  I haven't paid anything on it the past two years.
• JordanBelfort

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  7 years ago

  People can say anything they want to abkut taxes and crypto but at the end of the day the only opinion that matters is that of the IRS and the US government. Treat it like an stock or bond, if you make a profit, its a capital gain at 30 percent total (depending what state you live in), wait a year and youll only be taxed 15 percent. Dont be dumb, voluntarily pay the taxes so you have pluasible deniability in the event youre questioned about your profit any further. Also buy Ripple, XRP.
• twentyfive

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  7 years ago

  @flagooner the only reason you haven’t paid taxes on crypto is because you never bought any. ;) otherwise taxes are due on profits when you sell. Long term 15% (over 366 days, less than that) short term 30%
• flagooner

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  7 years ago

  @25
  Oh yeah, maybe that's why.
• max_starr

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  7 years ago

  short term was actually your regular tax bracket in previous years...not sure if trump's plan changes any of that...