I dropped in a bit of money on crypto. Now do i keep track of

You don't cash out faggot

>>2320209
just log them all into http://bitcoin.tax as you go

just when you cash out

or spend it all on the darknet and camwhores

>>2320209
At most, just report profits when you cash out. However I am not an accountant.

What you do is move to another country. the IRS is a dirty mafia. The United States was corrupted by the Obama administration. There may be no recovery. Just look at how they're picking on Trump, he can't even make America great again because the Fake Party lead by Obama is going after him with all their fake news bullshit about Russia influencing the election. GET THE FUCK OUT OF THE UNITED STATES, OBAMA RUINED IT.

>>2320209
Cash out little by little using the Local BTC for Cash. No trail whatsoever. That is if you want to dodge. If you don't want to dodge, just throw in any number relatively close to the amount and you should be fine.

>>2320209
If you make up to 600$ on the side a year, it's not taxable

wait until Trumps tax reform

>>2320228
> drumpfkins actually believe this
;)

Move to Nevada and cash out. They just got rid of crypto taxes. I assume there's going to be a lot of BTC flowing in and out of Vegas very soon. We will probably see the first Bitcoin casino within a year.

>>2320238
IF I MAKE LESS than 600 a year i'm golden?

>>2320209
AFAIK you only pay tax on realised gains, as in when you withdraw it or move it into fiat.

e.g. lets say your one of those lucky kids who made quazillions from investing in BTC years back. You don't pay tax on the millions you made, only if you turn that millions into fiat. Most of the time withdraws are capped so if you withdraw under it you don't have to pay tax.

Best to look at local laws/get advice from a tax agent in your local country.

File: 1484868253967.jpg (60KB, 480x360px) Image search: [Google]

60KB, 480x360px

BUY GAY COIN

>>2320524
It's impossible to make less than 600 in a year here. You'll have to work hard, buy high and sell low.

>>2320553
very informative ty

>>2320524
I made 600 this week, just pay your taxes

>>2320501
what if you bought the crypto in another state and then move to nevada? do you have to pay the tax?

>>2320228
Americans living abroad are still obligated to pay taxes to the IRS.

>>2321792
Not if you live there for one year and establish residency!

>>2321823
What if they don't?

>>2323251
Taxman will get his shekels one way or another.

>>2320583
>buy high and sell low
LUL

>>2323251
lose citizenship