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US Tax Changes And Cryptocurrency Exemptions 2018

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There has been some news coming out that the US will be changing its considerations for what is exempted as a like-kind exchange of property. In regards to cryptocurrency this could have repercussions to those who trade currencies. It is looking like Like-Kind Exchanges may soon only pertain to physical real estate investments, and same for same coin/token exchanges. Please consult with your accountant or tax preparer to learn more about how these changes could effect you in 2018.
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GodsIlluminatedOne (1 month ago)
FACT....I AM MOVING....( OUTSIDE AMERICA AS SOON AS POSSIBLE )....I AM ONLY....( BUYING CRYPTOCURRENCY ON CRYPTOCURRENCY EXCHANGES OUTSIDE AMERICA )....AND YES....( I AM GIVING UP MY AMERICAN CITIZENSHIP )
Grantastic (1 month ago)
Personally I’m just waiting until crypto goes main stream and I can actually purchase things with it so just hodl and then funnel all the money into privacy coins or something, I’m sure there is a way to do it , gonna wait at least 3 years to figure it out. May need to set up an offshore account as a last resort
Gregwinson Gregwinson (2 months ago)
I am so happy trading bitcoins at www.furcoins.com
Codel La Roca (3 months ago)
crypto sniper >> https://tinyurl.com/criptosniper2018-update
Theo 1014 (5 months ago)
what if someone didn't document every transaction? i'm no where near this but say i made 200k i wouldn't care if i had to pay 90k in taxes because i don't want to get in trouble for anything. and if you're depositing tens of thousands into your bank account are they more lenient if you're just like "this is what i put into crypto and this is what i've taken out" or will you still be penalized?. because its not like the IRS knows whats on your ledger or in your desktop wallet. i get the stuff that triggers a taxable event but like i said they don't know what your digital holdings are. is there a type of flat rate or something?.. even if you end up paying more id rather do that than try to hide it
Arathorn Dezeus (5 months ago)
Trump bankrupting the USA just like he bankrupted all his businesses
Daniel Bull Runner Lamb (6 months ago)
If everyone don't comply the irs can stop robbing they can audit everyone.
Bitaxx Support (7 months ago)
Free tax and historic price lookup tool for crypto traders! http://ge.tt/3GCXLdo2 theres also youtube video showing you how to use it https://youtu.be/sOp0oIJ1flM. Bitaxx was created to help cryptocurrency investors track there trades by converting BTC amounts in to a more simple usd value. We use the time and date the trade was made to pinpoint the historic BTC value, once this is uncovered we multiply by the BTC trade value to produce a US Dollar value making your life easier. We think investors will use this tool for tax purposes as well as just a tool to simplify trading data. No longer do we have to be in the dark and not know the exact dollar value of our trades. We hope you enjoy this free tool and greatly appreciate any donations! Free tool http://ge.tt/3GCXLdo2
JeepJKU Adventures (7 months ago)
You could deposit funds into a 401K and avoid taxes on income then borrow againt the 401K and pay much less than the income tax
JeepJKU Adventures (7 months ago)
Altcoin Buzz what would you recommend?
Altcoin Buzz (7 months ago)
That's a potential strategy I suppose. -Steve
Brian Watson (8 months ago)
The like kind trades is still not taxed in 2017 correct? This will be a taxable event starting Jan 1, 2018?
J Alice (8 months ago)
Join one of the best exchange platform in the market: https://www.binance.com/?ref=18522673 Here you will find a lot of good coins to trade/ Its safe and reliable. It has also a feature where you can manually put in when you want the buy or sell to happen. After that it will be in auto mode.
Tony Frederick (8 months ago)
OK so from bitcoin to NEO, Taxable? From Neo back to bitcoin, Taxable? Then when you exchange out to USD, capital gains? What percentage of taxes for these events?
Mark (8 months ago)
i mean the money that i used is from my bank account and the money that comes in from bank account is from my work. My work already taxed my paycheck so why do i need to report it? the heck is this america?
George K (8 months ago)
It sounds to me in that paragraph he read, that before 2018 buying an alt coin with ETH or other, is like to like exchange, and starting 2018 we have to pay tax on those same Crypto to Crypto exchanges. Trying the Cointracking.com software to log all trades and spit out a tax report. As the old saying goes, half a loaf is better than none. They aren't going to FUD me out of Crypto, it's the future.
CKster (9 months ago)
So buying Bitcoin or Litecoin isn't a taxable event right?
CKster (9 months ago)
Thanks for the reply. Also another question whenever you can get to it, say I bought Bitcoin and then traded it for Litecoin in 2017, do I still pay taxes on that or does that only apply in 2018? Sorry for the noob questions... Thanks in advance!
Altcoin Buzz (9 months ago)
Not the initial purchase, but if you bought Bitcoin and then traded it for Litecoin you would be able to report gains or losses on the fluctuation of the price resulting from your trade. Although, I'm sure the government will regret opening this pandoras box on themselves when people start writing off their loses. -Steve
John Clay (9 months ago)
Why is the US gov,'t not worried about cryptocurrency???? Could it be that the IRS is just collecting every USA name associated with crypto so they can "Red Flag" for another day. Thus meaning 5 years from now, when they finally hire enough IRS investigators to go through such a ridiculous backlog of potential tax evasion, they will start auditing everyone involved. Easy way for the gov't to go after anyone investing in crypto. Personally I'm not worried because I have a great accountant, but I do believe we have opened a door for the IRS to get into a lot of people's lives and most likely to find out who has money then go after them under the disguise of random audits.... not good! You better have a firewall to your wealth or they will come to get their share....Just a thought.....
Wak Job (9 months ago)
This is a load of poo. It's like taxing someone for trading 'Magic the Gathering' cards with each other. OR WITH THEMSELVES!
M T (9 months ago)
Give CoinTracking a try for keeping track of coins a generating tax reports. Use my link to get 10% off. https://cointracking.info?ref=K751962
Michael R (9 months ago)
Hello, have you met our lord and savior, Bitcoin? CryptoCurrency is a religion by which our actions and spending express our free will in the form of decentralized democracy. As a religion it is exempt from taxation. Amen!
GemInMe MS (9 months ago)
Binance has started to reqister new users. Please use this ref link https://www.binance.com/?ref=20252160
eevd350z (9 months ago)
All exchanges need to find a way to buy alt coins direct from USD period! If people are trading alt coins from the top 3 and are forced to be taxed 15-20% per profit transaction + exhchange fees, that would be fed stealing literally billions of dollars from investors and startup companies. In my opinion, the coins should be taxed if purchasing service, product or exhanged to fiat or cashed out back to dollars.
Temple Ray (9 months ago)
donald trump dont even pay his taxes he said in a debate Not Paying Taxes 'Makes Me Smart
ThatBoy Deontae (9 months ago)
Temple Ray 💯
Margaret Morris (9 months ago)
There is a petition to try to reverse the IRS rule of taxing all crytpo transactions: https://www.change.org/p/irs-stop-the-irs-from-taxing-all-crypto-transactions
Tim L (9 months ago)
I’m all for paying fair taxes as a proud American. But this is just government sanctioned theft
friedcash (9 months ago)
You telling me I have to keep track of everytime I buy a coin with another coin and calculate the losss or gain? Nobody has time for that.
ThatBoy Deontae (9 months ago)
friedcash LMAO exactly
MrReallionaire100 (9 months ago)
Home of the brave for sure,but land of free, my ass!... In the comments we have people from other countries laughing at us...what a joke, now the rest of the world gets rich and now we just stand by and watch.
ThatBoy Deontae (9 months ago)
MrReallionaire100 LMAO💯💯💯 shit crazy
cooldog60 (9 months ago)
I thought Crypotos would be taxed as capital gain . Not regular income.
stevensasy12345 (9 months ago)
So any exchanges before Jan 1, 2018 are not a tax event?
ThatBoy Deontae (9 months ago)
stevensasy12345 no
Off Tha Block (9 months ago)
Every transaction is now taxable. only tranfsers of like kind. So from one BTC wallet to anotherr. One LTC wallet to another. Not trading. Not changelley. The later activities are taable events now. Also new tax code does not account for capital losses. In other words... Invest and hodl or invest into ICO's. I am looking into trading via IRA.
WREM (9 months ago)
IT'S TAXABLE "IF WE CONSENT TO IT." WHO THE FUCK ARE THEY TO MAKE THESE FUCKING RULES? NO ONE PAYS, WHAT THE FUCK ARE THEY GONNA DO????
NumaNuma Yay (9 months ago)
The fact that citizens are going to let this happen justifies the next asteroid.
Freedom by Connor (9 months ago)
They’re just trying to hold down the little investors like us! They’re trying to rig the system so only the big time wealthy investors keep succeeding
ThatBoy Deontae (9 months ago)
Sub-Orbital Gaming 💯💯💯
WREM (9 months ago)
Then what the fuck are you gonna do? Are we gonna start paying? no one pays it. tell them to fuck off.
Biea Da Rsonist (9 months ago)
Lol. They are going to make people pay taxes on imaginary wealth or numbers. Lol. Cryptocurrency is like a token with no real value. It's digital. It's worth only what we the people say it's worth. It's like a coin collector buying, selling, and auctioning coins at their leisure. What? You want to treat my crypto-tokens like real cash before I cash in for real dough? F.O.H That's like trying to tax my highest score on a video game. In the Tax Bill does it give the legal definition for "Token". Does it say anything about the actual word "ICO"? So if I am in another country making my trade or buying merch, do I still get taxed USD or what? And at whos exchange rate would I be taxed? Are foreign people holding crypto being taxed when they are here? Did Satoshi wave the right to call crypto currency a whole another name, while the Govt. Trying to play with people. Shouldn't every time I put money into a different slot machine, I should be taxed too? Nobody would ever go to the Casino if everytime you invest your coins into (another casino game and you get taxed) Rather you winning or losing. This is the effort to save the banks. This is a lesson to not let the Govt. Know how well something is going. People STOP BRAGGING ABOUT A GOOD THING ON THE NET. Go door to door with a flyer or something. At the end of the day Banks don't charge a tax when I take money from one and deposit into another. My Bank Statements are full of withdrawals and deposits, and I'm not taxed on them. Isn't that my assets, property, Lol - "COINS"? Anyway, I'm sort of new to cryto-casino-like-video-like-imaginary-money outta thin air-token-gambling-like shee-it. Therefore, I don't know shee-it.
ghost555 (9 months ago)
It doesn't matter if you have XVG or minero you're still gonna pay taxes because of exhanges
ThatBoy Deontae (9 months ago)
Sub-Orbital Gaming exactly we people making them rich its only thousands of them you know how many Americans it is to them SMDH
WREM (9 months ago)
No, that's not how it works, all Americans have to do is NOT PAY. Who the fuck these people think they are to pass and enforce this shit. AMericans need to come together and shoot these mother fuckers for treason and extortion.
Mike NEGAN (9 months ago)
On behalf of the crypto world FUCK ALL TRUMP SUPPORTERS!!!!
ExpiredCereal (9 months ago)
I've messaged over 10 accounting firms regarding tax season and if they are familiar with cryptocurrency investments. All the replies I received back so far have been no.
suffocatingfool (9 months ago)
What if I lose my wallet keys?
ThatBoy Deontae (9 months ago)
suffocatingfool lost your money as well
Ravi Nam (9 months ago)
Could you please share a link to document that says "However an exception is provided blah blah December 31" (it's 9:44 min timestamp of your video) Thank you in advance very good quality content :) +1 subscriber
Dj Crypto Blessed (9 months ago)
Who is the IRS? Who actually owns and controls the IRS? Seem to me that we need to close these assholes down seeing how they have no congressional authority. It's a crime to force a righteous person to pay into a WAR TAX. Most Citizens Are Not Required To File An Income Tax Return The 16th ("Income Tax") Amendment To The Constitution Is A Fraud If You File, You Waive Your 5th Amendment Rights. Corporations are required and they've been forcing you to contract with these criminals to obtain work. They couldn't answer US in 2000 and they sure can't today: http://livefreenow.org/wp-content/uploads/2017/02/USA-Today-Ad-July-2000.pdf
Pașca Alexandru (9 months ago)
If you pay your government when you make profits on crypto, does your government pay you some compensations when you have losses from crypto? :) What do you get back from paying that? EXCEPT the receipt.
ThatBoy Deontae (9 months ago)
Pașca Alexandru LMAO💯💯💯
Red Pill Rage (9 months ago)
The people who created this new tax law obviously don't understand even the most rudimentary aspects of how cryptocurrencies are bought and sold.
ThatBoy Deontae (9 months ago)
Red Pill Rage its war than fuck it
Red Pill Rage (9 months ago)
*+ Sub-Orbital Gaming* Don't we always? After all, what choice do we have? This is not the 1700's, when we could assemble a ragtag army of citizens, hand them muskets, and fight the government (who also was armed with muskets). In 2018, the government has tanks, stealth bombers and nuclear weapons, and we the people still only have muskets. The balance of power has dramatically shifted in the governments favor. We don't have a fighting chance anymore. That's progress.
WREM (9 months ago)
Americans better not roll over and pay this shit.
Lacy Goat (9 months ago)
https://youtu.be/1N9eGrC4y1g nice pretty form that all ready to go, just like they knew. you have to down load the info through the API, but just drag that form with you to the accountant. 2018 they are changing the law, of course, but the form is ready to go. they will be begging for bankers and wall street just to do the reporting! download the information yourself. intangible property, more than 200 trades you pay for it.
Chris Straight (9 months ago)
www.binance.com/?ref=16113853
Tolani Micheal (9 months ago)
just don't use US Xchanges problem solved. lol
NaturalHI (9 months ago)
This is discouraging news. Now, I'm getting second thoughts about investing in crypto currencies. I'm so tired of these Republicans and Trump stealing from us to give to the rich. It's like no matter what we do to get out of poverty, these greedy politicians think of more ways to prevent us from living the American Dream. With this new tax reform, I feel like our freedoms are coming to an end because we have to work harder to make ends meet. Just slavery.
James Soroe (8 months ago)
Trump said he was going to get rid of Tax loopholes. 1031 was a loophole. As a crypto investor, I'm not happy about it, but he's doing what he said.
Friction Show (9 months ago)
Don't worry, dems will come back to steal from you to buy slave collars for the poor.
NaturalHI (9 months ago)
Faisal Ba - Remember, the Republicans are for big corporations that supply our jobs, the Democratic’s are for the middle class & poor working families. Republicans will tax us more in about 2 years and thereafter, so that give more out of our pockets to the elite rich.
Faisal Ba (9 months ago)
I thought republicans were trying to fight to lower taxes, especially on capital gains?
Castle Wood (9 months ago)
This has Far reaching ramifications outside crypto. Seems very unfair to make a change like this so last minute and in a sneaky way.
FunkyCryptoCoins (9 months ago)
Hope there will be a petition to get rid of this burden.
Cain McGregor (9 months ago)
hopefuly i'm not a us citizen .
Lala G. (9 months ago)
how did the one billionaire get away by not paying taxes for 2 decades on his billions, but us the poor have to pay taxes on the $500 gain we make?
ThatBoy Deontae (9 months ago)
Lala S it's still the same law they lying just to see how many people come up out there pockets they missing out on money they got all that money they can buy it they selves but they probably already is
Lala G. (9 months ago)
what is the capital gain tax rate anybody knows??
ThatBoy Deontae (9 months ago)
Lala S nobody really knows confusing
What happened to NXT ?why did it go 50% down? will it recover?
Bitcoin Overdose (9 months ago)
ICX airdrop and a new coin ignis something I think
Danny k (9 months ago)
Use Tor. Use SALT. Use hardware wallet. This is unstoppable and the government is fucked......couldn't happen to a nicer group of crooks.
iceflame12 (9 months ago)
I prepare taxes for a living.. I read that in 2015, only 800 or so Americans claimed any sort of crypto activity. Given the hundreds of thousands (millions?) of people that have signed up for coinbase the past month, the IRS and individual-return accountants are going to have some significantly complex 8949's to follow. I'd recommend everybody who has been trading this years gets at their tax adviser ASAP and not waiting until April. Some exchanges have API that will work with some tax software.. some you just have to download and manually put in your order history. This would be extremely complex and time consuming if you're a day trader. Or you can say fuck uncle sam and pay nothing, but keep in mind a lot of these exchanges have your info so the IRS might come at you someday down the road... although with this new tax bill and even more IRS cutbacks, I don't see how they'd possibly have the time or resources. Either way, good luck to everyone! and thx for the vids altcoin buzz; you're on of my favs
ThatBoy Deontae (9 months ago)
iceflame12 they need to worry about the wars & not us ☺
JF Kansas (9 months ago)
It all comes down to figuring out your cost basis. A long time ago stocks were like this, almost impossible to figure out your true cost basis if you bought and sold shares over a period of time.
Chris Perrotta (9 months ago)
If very few exchanges do Fiat to an alt currency then you can only invest is coins on coinbase without getting the tax... correct?
Eric Montoya (9 months ago)
Well, this really just took the wind out of my sails 😕
KrazyKreeper Flame (9 months ago)
Check out ZOI its a low circulation privacy coin
KrazyKreeper Flame (9 months ago)
Check out ZOI its a low circulation privacy coin.
David Owens (9 months ago)
By any non-bullshit metric, crypto should fall under 1031. If only there were youtubers with cult followings of 89K who could inspire the crypto community to crowd-fund legal challenges and lobbyists.
Tom Keyser (9 months ago)
And you won't be able to exchange bitcoin for litecoin so you can move it cheaper and faster anymore without creating a taxable event
Bitcoin Overdose (9 months ago)
Tom Keyser atomic swaps?
ene831 (9 months ago)
Viewer 17,000
Tom Keyser (9 months ago)
This is going to be an accounting nightmare
Otto Nomicus (9 months ago)
Here's how to avoid the tax. Move to Canada, where there's no tax on gambling income unless it's a business, and you just say it's not. The courts always rule in the gamblers favor. So once you're a Canadian citizen, instead of buying and selling btc you bet on where the price will go. Now it's tax free. You make Internet groups of Canadians and you bet with each other. Probably illegal or something so use Tor I guess.
Roy M (9 months ago)
I've wondered about exactly how to report taxes for crypto, esp when it comes to trading on exchanges. you trade a bitcoin for an alt coin at a specific price, thats the alt to bitcoin comparative price, example trade .15 btc for tenx at .00023839 btc/per. now on a site like bittrex the history of your trades dont show the value of tenx usd at that trade, nor the value btc was at time of trade. .00023 trade price could = $2 one day, and that same value could equal $2.30 the next day pending how tenx & btc price changes. calculating the profit per trade would be nearly impossible esp for those who trade a lot. unless I am missing something simple. also ppl bring up a good point, if you move all your assets to an exchange outside the US like binance how can they tax you per trade, as ppl were saying they may try to do with the new law. I'm so curious I actually wrote a detailed email to the IRS counsel email address who addresses questions regarding crypto taxes, and I wanna see what the say about all the things I brought up, and maybe they can tell me how I have to report taxes. I've clearly told them I do trade BUT have not sold a single crypto back into US Dollars and don't plan on doing so anytime soon. I hope we dont have to pay taxes on crypto like its personal property tax yearly!
Woke Watch (9 months ago)
Claim all the losses over the past 10 years when your USD in the bank dropped in value.
Limbo (9 months ago)
Hi, have you gotten any response yet? Thanks!
Sherlock MacGyver (9 months ago)
Can you please post their response?
Bitcoin Overdose (9 months ago)
Roy M literally you could claim a loss on the usd value and still gain more BTC lol... Just claim all losses
SaffronTown (9 months ago)
Nobody understands the tax code in this fucking country and now they want to taxe currencies that doesn't have any intrinsic value?
Woke Watch (9 months ago)
they see the $$ dollar signs, whether they are real or not and going to do everything to take that away from the average person.
Bitcoin Overdose (9 months ago)
For April I guarantee you if Bitcoin was worth zero this wouldn't happen lol
Mladen Lončarić (9 months ago)
Haha, my country wont have these regulations for like 50 years in the future :) I live in Former Yugoslav republic of Croatia :) Beautyful place but shitty government :)
Kate Fateeva (9 months ago)
As “scary” as it sounds I really don’t see how they are going to track all these transactions lol. Especially considering most exchanges are outside of the US. It all sounds good on paper, real life application is a different story.
Jim Dandy (9 months ago)
Forget crypto now - one of its major attractions is now gone.
OtakuMan hakdre55 (9 months ago)
This country’s money is backed by “the trust of the people “ . This fiat currency isint backed by anything . All the gold we had was gone a long time ago. All this country ever does is print money out of thin air. Just sad. And now they want to take out real money? No
karcia23tony (9 months ago)
Why can i not comment to the carVertical video? I wanted to know if i was reading this right under carVerticals token sale agreement. Are Americans not allowed to partake in the Token sale? "4 §2. Persons Who Are Restricted to Purchase Tokens 4.6. The Tokens are not being offered or distributed to, as well as can not be resold or otherwise alienated by their holders to the following restricted persons (" Restricted Persons "): 4.6.1. citizens of, natural and legal persons, having their habitual residence, location or their seat of incorporation in the United S tates of America (including its states and the district of Columbia), Puerto Rico, the Virgin Islands of the United States, or any other possessions of the United States of America; an"
Aldo Quintanilla (9 months ago)
Honestly this all depends under what category crypto currencies fall into. If you invest 5000 and have turned it into 15000 but have only converted 3000 of it back into fiat technically you’re still at a loss. Until cryptocurrencies become recognized as a sort of asset or currencies as they’re mostly meant to be or have a specific rule/law applied to their ability for taxation I for one am only reporting gains on that of which I’ve converted back into fiat. I can’t even keep track of all my gains or losses it’s a nightmare to look through my trading histories on most exchanges.
clarQ (9 months ago)
whats ur opinion on #NAV. I think it has good potential
Michael H (9 months ago)
Haha, well unless the IRS is going to accept virtual currency themselves, this sounds like something that will be used to bring down people they do not like with lawsuits.
TheCornbeefsoup (9 months ago)
So moving the same cryptocurrency from one exchange to another is not a taxable event....Even if its for arbitrage? Lol i can just move a crypto from wallet to wallet ALL day and gain a profit while do it......Especially with the korean won. Now, someone correct me if I'm wrong but at the moment there is an over $4000 USD gap for bitcoin between Bithumb and GDAX. With the help of the Forex market or money wiring....can you pull this off? And is it worth it? Just an idea.
Max Towers (9 months ago)
Monero.
The Powers That BTC (9 months ago)
https://dotnetrussell.com/index.php/2017/10/21/locating-monero-users-via-transaction-broadcasts/
Sherlock MacGyver (9 months ago)
Doesn't matter when you're still trading on exchanges
Darius Seals (9 months ago)
exactly
J (9 months ago)
Anyone. Any loopholes? Think.
Johnny (9 months ago)
Whelp. They did it. They went full retard. Fuck the IRS and everyone who works for them. Hopefully they all burn in hell.
Steve Kernahan (9 months ago)
have a look at GCN, seems a bit more legit than EMB!
Michael Anderson (9 months ago)
If the U.S. taxes cryptocurrency then they are calling it legit how can you tax a fake item?
john jones (9 months ago)
as real as ever Currency in the world or do you not understand how currency works there kiddo?
Drew (9 months ago)
the way that i understood that is .....if you withdraw all of your investments before the 31st and dont carry anything over its not taxable. So just withdraw it all before then and reinvest on the 1st of Jan.....if i understood correctly
Cooper Thompson (9 months ago)
Can you make an update video on the crazy day that EMB had?
Travis Long (9 months ago)
Fuck Uncle Sam, just wants to take your money and oppress you.
theplayernkc (9 months ago)
The profit at time of exchange makes zero sense. For example, when you exchange Bitcoin for Ripple, you get the equivalent amount of Ripple as to the value of Bitcoin traded. There is zero profit... zip, ziltch, nada.
kmusic (9 months ago)
theplayernkc exactly what I'm think... They don't even understand it and throw out a tax law like this. Its impossible to track.
Woke Watch (9 months ago)
F em.
Sherlock MacGyver (9 months ago)
It gets infinitely more complex when you deal with partial fills. Sometimes I'll have a list of 100 partials just for one small sale. lol These people are too stupid to be making laws this important.
55Porter (9 months ago)
theplayernkc, yes, that's another good point about BTC purchases. It would literally be overwhelming and impossible for the tax hounds to keep track of all of that, let alone those of us who are filing the taxes. The only way would be to organize the exchanges to automatically take out the taxes on each transaction, I suppose. This would most likely cripple the entire crypto market and kill it off, and that may very well be the goal.
55Porter (9 months ago)
That's why it seems like a tax on every transaction would literally become a massive headache that couldn't even be kept track of. You could wake up and do a transaction of BTC for LTC and then go on to do 20 more transactions for 20 different coins throughout the day, that all started with the BTC for LTC transaction. And you could do that 365 days in the year. Would you literally have to go back and keep track of every coin fluctuation involved in all of your THOUSANDS of exchanges throughout the year? Who could possibly do that? That's why it seems to me that taxing doesn't make sense until you cash out. (How much did you pay for the original BTC, and how much are cashing out after all of your exchanges?) Having said that, this is big brother we're talking about. Making sense and avoiding massive hassles isn't always high on their agenda.
Dirty_Furgy 9 (9 months ago)
Pac coin to the moon 🚀🚀🌙
Soda Popinksi (9 months ago)
Watching these comments fro. The youth us hilarious. If we aren't taxed , there's no military, no roads, no infrastructure, no law enforcement, nothing. China or Russia would take over the US in a few years time the no Ute the government went taxless. In none of the comments do I see people asking how much the taxes are, many are verbatim saying they don't want to pay any taxes whatsoever.
TheWatchmen2011 (9 months ago)
Wrong. Most government overspends and taxes too much to compensate for unnecessary things. If they cut back their bloated useless government programs then they wouldn't need to tax ppl so much. People didn't start paying income taxes until a few decades ago and we had roads and basic infrastructure back then.
Smart Investor (9 months ago)
Soda Popinksi let those motherfuckers print the money for that shit like they print the rest out of thin air.
Henry Halamadrid (9 months ago)
3 more years to complete my 1000000 dollars and going back to my country good luck americans with your IRS
Oyster Coin PRL is on a dip, before going to the moon
Luke Whitehand-Willick (9 months ago)
So if I use bittrex from Australia, do you think that will have tax implications in America?
Woke Watch (9 months ago)
most likely, America is logical like that.
Ken Savage79 (9 months ago)
Will never be able to track this unless you use trading platform that report what you did for the year
Sherlock MacGyver (9 months ago)
Well, unless you get audited. They could see you made a certain number of purchases at (for example) Coinbase with USD, then later withdrew more in USD. Doesn't take a genius to figure that part out. Then they could get records from the exchange, and you're fucked.
Will Watson (9 months ago)
altcoin buzz community. that moment when our ember coin is up 1800% already... edit: excuse me, 2200%
Will Watson (9 months ago)
Foomanlol damn. Welp, at least I'm locked in to hodl
Foomanlol (9 months ago)
But cryptopia locked trading so you cant even cash out anything.
Will Watson (9 months ago)
Foomanlol 😱😱😱
Foomanlol (9 months ago)
it actually hit 3500%
Crypto Rootz (9 months ago)
Will CryptoCurrencies End White Supremacy? (The Hard Truth To Swallow) https://youtu.be/Jw0Sv5s5qRk
A Ali (9 months ago)
Transfer currently to verge. "What currency sir I am but a measly peasant. " McAfee might be on to something 😎
Boemtie (9 months ago)
Im stocking up on Verge and Hodl.
David Rezal (9 months ago)
Everyone here ,I feel good writing about my story about binary option trade .Ever since I started trading binary I never made a difference not until i came in contact with Mr Samson March , I'll keep on thanking him for all he has done for me .i advice you my fellow traders to contact him if you are having any problem on binary option trade .contact him now themarchss(@)gmail .com
Lucas Ronny (9 months ago)
I make amazingly great income through Mr. March , the year is ending on a very perfect note for me.
First G Official (9 months ago)
I earn a wholesome amount at the end of every week's trade since Mr. March started handling all my trade, this has been one of the best years of my life.
Ideal Real Estate (9 months ago)
This is correct, i started with $3,000 and now by bank account is almost blown due to the way my pofits roll in .
D & R Z (9 months ago)
So, in all fairness, "John Doe" can sell on a dip and claim a Capital Loss. (DISCLAIMER: THIS IS NOT TAX ADVICE) :D
Aldair delibrado (9 months ago)
Just gonna hodl verge and see where I'm at in 6 months. Not even paying attention to the news. 🤷🏽‍♂️
Crypto Zodd (9 months ago)
Woke Watch 😂😂😂😂😂
Woke Watch (9 months ago)
MR March raped my children and killed my wife. He's a good guy though, made me a lot of money. make sure you use my referall and totally legit email (don'[email protected])
Crypto Zodd (9 months ago)
Scam fucks
First G Official (9 months ago)
He's a broker i trade with, I invested $2,000 with him and i earn close to $12,000 monthly, just contact him for a great year ([email protected])
Ali Mo (9 months ago)
Who is Mr.March LOL?
kckrol85 (9 months ago)
I will not being paying tax until a gain is settled in USD in my bank account. No way in hell I would track or report all my coin exchanges. Who the fuck knows if I'll be able to get my money out!
C4rnif3X (9 months ago)
Right? I could absolutely see another revolution over this.. This truely is the definition of absolute bullshit. Taxing us on imaginary alt coin for alt coin transactions? 😂👌 Let me know how that works out for you Mr. Government, i'll be here not reporting. If nobody has caught on to how corrupt our "leaders" are by now, hopefully these new shinanegans wake up a few more people.
Woke Watch (9 months ago)
I remember when a certain group of citizens a while back would not stand against being taxed without representation....can't remember how that turned out.
C4rnif3X (9 months ago)
Ya, for real. They keep stepping way outside their bounds. Good like trying to go after everyones crypto accounts ;) I won't pay till they tell me to pay, got to catch me first.
Litecoin Lucky (9 months ago)
XVG is getting slammed right now. Buy the dip!
The Powers That BTC (9 months ago)
This is why#XVG has so many scurred.
Dylan (7 months ago)
hows verge doing? oh still worth a nickel just like i predicted.. hahah bet you wish you listened to this "fud bot"
Dylan (8 months ago)
lmao so now you're embarrassed and lying. so you claim you sold your xvg before making comments supporting it and shilling? hahaha lying clown.. then you say you're in it long term but sold months ago hahah omg you are a sad pathetic little boy in a market full of educated bulls. we will take advantage of your stupidity. per your request i got back to you.. you must really feel dumb as shit rn hahahah omg i can't breathe. you are the verge community. my point has been proven. i win. get over it.
The Powers That BTC (8 months ago)
I haven't owned XVG in months...nor do I give a fuck about crypto prices short term. What a fucking pathetic life. I hope you're a bot because this is seriously sad.
Dylan (8 months ago)
lmao thats why i sold my verge and made 25x gains while you're still clinging on to your nickels
The Powers That BTC (8 months ago)
Tl;DR ^ this guys a weirdo obsessive stalker with zero life or critical thinking skills
Coin Stacks (9 months ago)
But you will also get double the money for kids now.

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