Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.
Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.
If it were classified as a stock, you could just report net gains and losses but not so with property.
They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.
Simple solution: Become an expat. |
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To treat them like Young adults would require them to be already adults, which they are not, this is why they are called childen. And is most of the world they are not legally responsible of their actions. As young adults they would have to go to jail for their mistakes.
They are called children because they're small. That doesn't mean they're any less intelligent than adults. Some of the most intelligent people I've met were kids who would've put the vast majority of adults to shame. There's absolutely nothing of relevance that changes once you become an adult. |
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Are you referring to like kind tax rule? I wonder if that applied to USDT as well? Either way its going away in the coming tax plan.
Among other things (fiat is just a pita to deal with). There are some other loopholes though, which I'd assume would only apply in a very limited way in the US, if at all. |
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I sent my Waves to Binance for the contest today, and it was confirmed and usable in about a minute! |
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What OS am I going to have to use for the SONM testnet on Christmas? All my rigs are running ethOS right now, which I assume won't do it?
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Hey Folks, I know this was posted all the time, and sorry about that. But I'd like to hear from you what would you invest in if you had 50 dollars in your pocket ready to put into some crypto?
Sorry if I offended you. I think there is very little value to use in investing. If I have as much money as possible I will trade. But inget trading has a big risk. Two words and a number: 10,000 Bitcoin pizza. |
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Corrections of that kind are totally normal. Just a good time to buy in, in my opinion. All coins are in correction mode now.
Well here's a correction for you: crashes aren't corrections! If you think Litecoin will be $300+ anytime for weeks to come, sorry to say you are in all likely scenarios mistaken! We're still quite far from a crash. Have you not looked at the charts? Charlie Dumped on us ~ what a prick :\ meh i want my money back!!! Fair game. |
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Many people are hoping that B Cash will come to equilibrium with Bitcoin. The next few months are going to be interesting to see regarding those two. Ultimately, I see Bitcoin still dominating.
BCash will just disappear with Lightning Network coming out. There's no redeeming factor about BCash and tons of reasons to stay away from it. Bcash has many big names around it so it won't completely disappear from the market after lightning network is introduced on Bitcoin network. But I think bcash would be the worst alt at that time because many top alts like litecoin will also implement lightning network. Once LN comes out even the most clueless of goons will realize that BCash is completely worthless garbage though. From its very inception the only function it served was causing money to swap hands by artificial P&Ds. |
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Well ... I doubled my bitcorns ....
hats off, that, by definition, takes some serious gonads Thanks.. It wasn't much. Just single digit, now double digits. This happens only once every two or three years, or I've managed to only do it twice so far. I make more bouncing around the alts. I much prefer bouncing around alts as well. That also avoids some other... less pleasant issues. |
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Today most of us are getting near-to-death experience again and again. But wasn't this dump expected? This was in fact much required and much expected as well, for stability of bitcoin's further rise. Nothing in the world just goes up and more up, with any correction. These corrections (big or small) are the requirement of time, and we're having them now. So it's good.
Though I don't think so that bitcoin is gonna go less than $10,000. The current dump should be enough of correction.
Been in this for too long to really get fazed much anymore. It was actually quite entertaining to see a small fortune being wiped out of my portfolio over night. Perhaps I'd get an NDE if we went down like 99% though... that would hurt. Indeed. The vast majority of us bought in triple figures (or less....). This is just amusing. I've already got a return on my investment fiat wise. However, watching my net worth plummet by thousands was not pleasant at all.  Oh well, keep plugging away with mining shitcoins with my 1070.  I find it highly entertaining. Watching years of salaries disappear and reappear in the blink of an eye is just a lot of fun to me for some reason. I've been thinking of setting up a huuuuge LCD screen as a "painting above the fireplace" kind of thing, that visualizes my crypto portfolio. If I ever got to a point where millions just disappear and reappear every few minutes I'll probably just have to bite the bullet and do it. Maybe some guests would end up getting heart attacks watching it, who knows. |
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I don't think many traders/investors/HODLERS actually know what a like kind exchange is so I don't think this is the reason for the route. You're crazy. The BTC market is controlled by a VERY small number of people moving large amounts of cash. As soon as bitcoin topped out, the same money that was used to pump BTC was all shifted into altcoins at Poloniex. These are entities like Pantera capital, Goldman Sachs, etc, constantly going back and forth between coins like BTC and Ethereum. The people who are actually moving these markets are all utilizing that loophole. It doesn't matter what the small fish know. You act like tax law is clear hear when it's definitely NOT. Taking the position that these transactions qualify as a LKEs is an extremely aggressive position to take tax wise. I sure as hell wouldn't take it. Offshore and double tax treaties weeee. Or just expat and get over with it. |
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Today most of us are getting near-to-death experience again and again. But wasn't this dump expected? This was in fact much required and much expected as well, for stability of bitcoin's further rise. Nothing in the world just goes up and more up, with any correction. These corrections (big or small) are the requirement of time, and we're having them now. So it's good.
Though I don't think so that bitcoin is gonna go less than $10,000. The current dump should be enough of correction.
Been in this for too long to really get fazed much anymore. It was actually quite entertaining to see a small fortune being wiped out of my portfolio over night. Perhaps I'd get an NDE if we went down like 99% though... that would hurt. |
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Dev needs to dump his coins in order to list us on HitBtc - 5BTC listing fee He's been working hard on dumping his scamcoin. |
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Get ready for the next leg down, resistance will be at $5000 - $7000!
I do believe, sir, that your are overflowing with bovine-fecal-matter. I wouldn't mind if he wasn't. That would mean around 3 extra coins next weekish. |
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Breaking 24777$ prediction game
Jan 5 2018. I already snatched that, better update before all other good dates are taken. |
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GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? When she comes back you'll have two GFs, and more moneeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee |
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Qryptos and HitBTC wanted more community members and volume. The small coins cannot reach big exchanges without merger.
What community members are you talking about, there are none. You are the one calling all the shots and doing whatever you want with it. The only thing exchanges want is money to get a coin listed, no merger etc. Do not lie here. You did not want to spend btc to put XUV to the exchange so merged it into TOK while you said before that the community would be deciding, but somehow you merged it without even asking the community, you did it and then just told the community that you merged it. That is charlatan behaviour that you are sporting here. If you want, I can list the coin on small exchanges, but what is the point? You would just get your investment back in this way, or even lesser.
Lesser it is. Nobody is getting his investment back, the coin had dropped to 8000 sat yesterday and dropped further today into the 5k sat area, currently struggling around 6000 sat. The way it is going it will go under 1000 sat pretty soon. I think you do not think before you type. You should give it time to think how much efforts I put to make this merger happen?
It didn't take you any effort, both were your coins to begin with. There is not and was not any product behind the whole concept to begin with, just hot air. Enjoy your ill gotten money and I really hope that the person mentioning filing suit follows through and subpoenas you. The automated exchange of XUV to TOK is working fine now, and all pending deposits are also completed now[/size]
In other words, the dev can now dump even more of his coins he exchanged into TOK. Also writing in caps does not make your writing true or right, it just shows what kind of mental state you are in, from the looks of it it's delusional. Spot on. |
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Many people are hoping that B Cash will come to equilibrium with Bitcoin. The next few months are going to be interesting to see regarding those two. Ultimately, I see Bitcoin still dominating.
BCash will just disappear with Lightning Network coming out. There's no redeeming factor about BCash and tons of reasons to stay away from it. |
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hello guys! do you know how can I view my SONM tokens at JAXX wallet?
should I open wallet with my private key with tokens?
You might have to update to a new version. If not, then yes, you'll have to open your wallet with your key to view all (applicable) token holdings. |
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What is the next update here? I see only a lot of marketing...no development at all.
Are you talking about other projects? SONM is easily one of the most active ones I've seen. |
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