Where your hard-earned money comes to die. Home.
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You will never get fucked by crypto taxes *unless* you cash out to your bank
| Plum trailer park | 11/02/18 |
| flatulent property | 11/02/18 |
| Nubile pea-brained theater stage pozpig | 11/02/18 |
| Plum trailer park | 11/02/18 |
| Plum trailer park | 11/02/18 |
| hideous mewling menage | 11/02/18 |
Poast new message in this thread
Date: November 2nd, 2018 7:42 PM Author: Plum trailer park And even then, it's only a question of short-term vs long-term cap gains. Like say you turned $50k until $1 million in the last year, and cashed out $500k. The $500k will be flagged by no more and no less. The IRS excels at matching number X with number Y; they don't care what's in your bloody fake internet money wallet. Discuss. (http://www.autoadmit.com/thread.php?thread_id=4121634&forum_id=7#37147560) |
Date: November 2nd, 2018 8:06 PM Author: flatulent property Could Deposit into your bank slowly/gradually in increments less than 10k. Your bank won’t give you away to The irs unless your deposits are over that. Not legal advice because this would be illegal obviously (http://www.autoadmit.com/thread.php?thread_id=4121634&forum_id=7#37147683) |
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Date: November 2nd, 2018 8:16 PM Author: Nubile pea-brained theater stage pozpig If you’re doing this to avoid taxes it’s an even worse idea. Not only is it illegal to structure transfers in quantities of 10k or less to avoid taxes/penalties, but there is software every bank has that would easily detect it. (http://www.autoadmit.com/thread.php?thread_id=4121634&forum_id=7#37147734) |
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Date: November 2nd, 2018 8:24 PM Author: Plum trailer park It would be incredibly easy to just flag every Gemini/Coinbase transfer in imho. (http://www.autoadmit.com/thread.php?thread_id=4121634&forum_id=7#37147778) |
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Date: November 2nd, 2018 8:23 PM Author: Plum trailer park 10k is the number for USD:USD transacions. The pool of crypto bros to make an example out of is much smaller. Just claim everything transferred to a bank. The ballsy part is if you claim it as long-term capital gains if you traded.
The better idea is to just find a way to launder/spend it. it's fuckin currency ffs. |
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Date: November 2nd, 2018 9:08 PM Author: hideous mewling menage There is no way to spend it (http://www.autoadmit.com/thread.php?thread_id=4121634&forum_id=7#37147941) |