HAHAHAHAH SHITCOIN HOLDERS BTFO

Why aren't you flipping alt coins while you also hold your long term btc? Are you a literal idiot who hates money?

You're allowed to gloat. BTC's gains definitely outpace those of many fumble-fingered /biz/ gaytraders who've tried to sell peaks and buy dipz.

>>2306508
This

Have fun autistically checking Coinbase while not actively engaged in the game (that makes you more money)

Plus it's more fun. What are you a chick?

>>2306551
>>2306508

HAHAHAHAH shitcoins are gonna implode, BTC and ETH have future.

Buying and selling dips lands you a fat 15% capital gains tax HAHAHAH, NO THANX DAWG! I'd rather get the long term investment tax so schlomo doesn't take more money from me, and I don't have to pay HR&R block jews to sort my thousands of daytrades LEL.

We'll see who has more money in 2019 LOLOLOLOL *protip ITS ME*

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>>2306589
>falling for the tax on each shitcoin transaction meme

Children that have never made any money before crypto are so funny

Fuck you, Maimonguy

>>2306589
Are you actually this stupid or are you trolling?

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>>2306589
>taxes

>>2306636
he's not wrong tho

>>2306896
Not wrong about what? You don't pay taxes on altcoin trades.

Literally the whole point of bitcoin is to avoid government. Why would anyone worry about taxes when there's huge criminal enterprises using it?

>>2306945
you do you idiot.

>>2306945
HAHHAHAHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAA

*BREATHES IN*


AHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAAAHAHAHAHAHAHAHHAAAAAAA

>>2306945
be prepared to learn a difficult lesson

>plebbit formatting
>sporadic capitalization
>*emotes*
Kindly kys, roastie.

Who cares? I mined Verge when it was 2 satoshis.

>>2306973
>>2306968

are you retarded?

altcoin trades are treated as like-like exchanges and not subject to tax until converted to fiat

the nocoin autists who come on here and pretend that every altcoin transaction must be tracked and taxed are just desperately coping

>>2306994

nope

http://www.irs.gov/pub/irs-drop/n-14-21.pdf

https://en.bitcoin.it/wiki/Tax_compliance#U.S.

>>2307019

read what i wrote you dumb slut. altcoins != bitcoins

bitcoins trades have to be tracked. altcoin trades do not because they are treated as like-like exchanges, and since no altcoins are also fiat they are not treated as such.

bitcoin traded for fiat does have to be tracked for the exact same reason.

>>2307061
all digital currencies are treated as capital assets

end of story

>>2306966
>>2306968
>>2306973
>>2307019
I JUST had a fucking thread on this yesterday asking about it. Got the same reaction for the opposite thought. I questioned whether or not we had to report/pay taxes on alt coin trades. All of /biz proceeded to tell me how much of a noob I was because you only pay when you convert to fiat.

Which is it /biz.

>>2307191
you pay taxes on all the transactions

Are you going to trust the bitcoin wiki or some random anons?

>>2307214
The general consensus was that it was still a gray area because the IRS hasn't released any official information or legislation....

>>2307214
>Are you going to trust the bitcoin wiki or some random anons?

from the wiki:

>there are still some unresolved issues [...] do alt-coins benefit from Like-Kind Exchanges [4].

bitcoins are specifically treated as investment property, not currency, by the irs...and like-kind exchanges specifically apply to investment property (while simultaneously excluding currency)

from the pdf you posted

> For federal tax purposes,
virtual currency is treated
as property.

stop larping as a CPA and do some reading

>>2307261
Yup, better worded than I stated, but that's where everything stood.
BTC and USD conversions get taxed.
All the altcoin trading in between gets treated as like-kind exchanges.
Report tax when BTC cashed out in USD

>>2307214
You realize no capital gains on trades, therefore no taxes need to be paid. Q.E.D., there's no gains, there's nothing to tax.

Also, if you're paying taxes at all, you're an idiot.

>>2307292
Say you turned $10,000 into $200,000 on crypto investments and now you want to convert to fiat so you can buy a house or something. How do you not pay taxes?

>>2307292
What >>2307512 asked

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>>2306480
And yet when shitcoins go up with BTC, I double my BTC in turn quadrupling my USD. Hmm.

>shits on "scamcoins"
>invested in ETH

lmaoing

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People are getting pissed off at bitcoin. Too slow, high fees. Look at the numbers.

Yes, I was a guy like you. Now I invest in shit coins. I still have the Bitcoin I had, and now 20% more.

This market is really good for anything. As long as your alt/btc pair goes up, you still make gains in $ and get more bitcoin.

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>>2306480


>he pays tax
>he doesnt profit from the daily p&c
>he brags about he's obvious stupidity
>he thinks he's the one who knocks

holy kek confirmed >IQ80 amerifat

>>2306589
Listen retard, but shit coin for .2 btc sell it for .22 easy 10% if just let it sit in btc I can't ever get more btc.

>>2308206
You sell em bit by bit on localbitcoins, for cash

>>2306480
this is how you know 4chan are market reactors and not market makers. bunch of niggers following current trends

>>2306480
> since december 2016
> Thinks temporary dip as BTC rises is the final crash.

One of these can't be true.

>>2308768
The bubble will pop and reset itself, but since the Chinese throw money at cryptos who knows?

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>>2306480

Are you retarded, the altcoin market isn't crashing, it's dipping because BTC reached a new ATH and so it sparks people to reinvest their money from altcoins to btc, this literally happened like a week ago or so when it broke 2800 for the first time.

You've kept your money only in btc since december 2016? and ONLY 10% in eth? you're a long term cuck.

I started out with 200 pounds a month ago, now I've got 6k, you missed out on some obvious investments desu.

Just like you'll miss out when btc stabilises.

btw, not even a shitcoin holder atm, I'm 66% btc and 33% eth, since I recently just sold a shitcoin investment for 47% profit.

>>2307259
Sure they have

The new IRS rulings in 2014 state that any "like-kind" exchange between coins, which means between two coins which are nearly the same (never happens), is treated as just a conversion, and isn't taxed.
A trade between two DIFFERENT coins, at all, means you are taxed. Period. So yes, all coin trades are taxed unless you find two that have the same pricing.

Don't be a fucking idiot(not you specifically) when you play with investing and think you can just do whatever without having to bend your ass for the IRS. If your bank seea crazy amounts of gains money going into your bank when you cash out, they're gonna secretly send a suspicious activity alert to the IRS, one you can't request the info about, and the IRS will begin auditing your money situation to find out where that shit came from.
If in the end they receive no tax form about your coins, and notice some weird deposits from exchanges on your bank transaction list, they're gonna end up investigating you. That money doesn't come out of thin air. So, when one day you see a special agent show up at your door who then grills you on that the fuck you're doing, and you fail to produce detailed notes on your transactions and how each one is taxed, guess what? You're essentially guilty of a felony, money laundering. Tax is tax, it doesn't matter if you 'didn't know" how the tax worked. You're expected to know since you're doing investments.
Then you go to federal prison for laundering and RIP you.

So, go to BITCOIN.TAX immediately and transfer your history from coinbase and bittrex, the site has tools that autosort it for you. Update it weekly, and ensure you get your tax form sometime before tax season that you can accurately fill out. If you're 2dumb, invest some gains money in a bitcoin-specializing taxman who can jew his way into making you legal again.

>>2308893
>So, go to BITCOIN.TAX immediately and transfer your history from coinbase and bittrex
You understand shilling/advertising is against the rules right?

>>2308893

americucks have to pay on every transaction whereas most other places just want you to fill out a capital gains tax form.

UK even has a 11300 pounds allowance for capital gains, so I only get taxed on any amount above this lol.

>>2308937
It's an extremely good idea to do this, since it's fucking free and does all the work for you. I don't give a shit about the site, I just want anons to not go to >>>jail