how the fuck do you pay taxes on crypto? I put in 10k into coinbase,

Bite the pillow, they're going in dry. Did you hold less than a year?

(Withdraw Amount - Initial Amount) x 15% x [Your Tax Bracket %] = Taxes Owed

https://www.calcxml.com/calculators/inc06?skn

>>3106678
there's short term and long term capital gains, also your yearly income overall comes into play. Fuck it just don't pay the taxes fuck the government.

>>3106712
>yearly income overall
>more than 0 besides crypto

>>3106743
Your crypto gains play into your tax bracket as well as they count as income.

>>3106678
Just don't report that gay shit. You think the gubberment really cares they missed out on your 10k gains?

>>3106806
Can I get tax breaks on my crypto losses?

>>3106822
>implying IRS is there to take the money. They're there to make our lives shit and to have us submit our money every year mindlessly.

Easy as fuck m8. Capital gains tax.

W/e you have during tax time minus w/e you put in out of pocket.

File a 1040 form and you're all set.

You don't pay taxes per trade or any of that dumb shit you'll hear around here.

>>3106678

Keep it in BTC dummy. As soon as you turn it into fiat, you're fucked.

>>3106678
>paying taxes on anything that isn't life changing

good goyim

>>3106878
this

wew laddies

what happened to Trump's less than $50k you don't pay taxes plan

>>3106872
If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income, such as wages, up to an annual limit of $3,000

Here's a Forbes article from 2 days ago about this if any of you fags really care

https://www.forbes.com/sites/greatspeculations/2017/08/15/cryptocurrency-traders-risk-irs-trouble-with-like-kind-exchanges/#1fffed2926a8

>>3107001
He meant to say more than $50 million

He's getting old