do I have to do tax shit if I start trading crypto or can I just

>>3428349
You get taxed after each trade in America

Depending on where you live, you're supposed to tax it like other investments when you get over a certain point.
I don't think most here do tax it though.

>>3428361
does that go through automatically or do I have to pit it on tax forms and shit

>>3428373
Tax forms and shit.

>>3428373
Most exchanges, or at least the ones I know (Binance, Bittrex), let you export the information of each trades you have ever made in the Trade History.

File: 1476500159767.jpg (48KB, 720x564px) Image search: [Google]

48KB, 720x564px

>>3428392
blah

I suck at doing this tax filing shit

>>3428401
Also, I only wanna pour like 500$ into this to test it out, taxes are probably gonna put me in a negatave amount of cash

>>3428401
It's the natural consequence of investing / trading. You can always hire someone to do it for you.

>>3428410
If you're in the U.S., taxes are progressive. The less money you make, the less tax you pay.

>>3428401
bitcoin.tax and use api keys.

if i'm NEET how much money can i make before paying capital gains

>>3428500
Your capital gains are realized after every single transaction...

>>3428510
This shit really punts my testicles. No matter what happens in the meantime, I'm going to have to sell out enough next year to cover my "realized" gains this year, which then just creates more realized gains that I'll have to pay taxes on. It's such bullshit that money that even though I never took actual USD gains off of crypto, the IRS says I did based on the way they handle trading crypto for crypto.

>>3428500
Long term capital gains tax is 0% until your taxable income is $37,650. Short term capital gains are taxed at your regular income tax rate (you have to file if you make more than $10,350).

>>3428555
It isn't bullshit at all once you realize how insane a barter transaction loophole would be. It would become trivially easy to avoid taxes altogether.