Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[HI-TEC99]

The sender has to pay if the transfer value exceeds 14000 per year to an individual. However, if in the event, the sender doesn't pay, then the IRS looks to the recipient to pay.

Can you explain this ?  Taxes for property are payable on a taxable event. Normally receipt of property is not a taxable event.

The person disposing of the property has a taxable event for fair market value of the property at the time of disposal.  But that has nothing to do with the recipient. 

wouldnt a taxable event only happen when the btc is sold/traded? if so just never spend it. xfer that unwanted btc to a separate wallet/address and never touch it again.

have to use a wallet with coin control or something to get it right maybe.

I don't think anyone is sure if it's a taxable event or not.

The same seems to apply to any Bitcoin cash you got from the fork.

https://www.coindesk.com/irs-get-cut-bitcoin-cash/

To summarize, under current law it is not at all clear whether a hard fork constitutes a taxable event.

Even if one takes a conservative approach that it does, it is not clear what is the amount realized, namely, the amount that taxpayers must report in income.

Given that several hard forks happened in 2017, it is absolutely imperative that the IRS issue guidance soon on the tax treatment of hard forks.

[B1tUnl0ck3r]

The sender has to pay if the transfer value exceeds 14000 per year to an individual. However, if in the event, the sender doesn't pay, then the IRS looks to the recipient to pay.

Can you explain this ?  Taxes for property are payable on a taxable event. Normally receipt of property is not a taxable event.

The person disposing of the property has a taxable event for fair market value of the property at the time of disposal.  But that has nothing to do with the recipient.  

According to this, it appears no gift tax is owed until the donor gives away in excess of 5.49 million dollars in their life time. (Excluding the 14000 per year exemption per recipient.)
https://blog.taxact.com/gift-tax-do-i-have-to-pay-gift-tax-when-someone-gives-me-money/
It appears the IRS can go after the recipient if the donor doesn't pay. But this is clearly very rich people problems.
What scammer is going to send me 100s of BTC to try and fleece me for my very small stash for this to be a real problem? Clearly they would be an fool.

If the IRS had to go after the recipient in such a case, the recipient wouldn't get fucked by tax evasion laws for not walking up to the IRS himself would he? Since the sender is supposed to do that part and the recipient couldn't possibly know if the sender neglected his duty?

another option is to black mail your designed irs agent... it's so easy, find who they fuck and most of time it will be shady (underage, what ever)... paying the irs is submission, it's accepting slavery, it's contributing to oppression, it means to be a good slave...

brk trump will address the nation tonight... will see...

maybe https://www.zerohedge.com/comment/11507814#comment-11507814 "

Keep fucking DREAMING.  The Storm is fucking HERE!

25,000 sealed indictments, room for 13,000 in GITMO.   Tribunals are ready.  

 

Democrats are in deep DEEP fucking SHIT and they know it.  That's why they are panicking.
"

LOOOL

they could have done visa bans... anyway... will see how it plays out...

just have spare hardware, emf shielded in case...

[HairyMaclairy]

I don’t accept that hard forks are income. Not until you sell them.

A code split is not a dividend.

A harder question is whether Neo gas counts as income.  On balance I think the answer is still no as gas is not money.

[bones261]

The sender has to pay if the transfer value exceeds 14000 per year to an individual. However, if in the event, the sender doesn't pay, then the IRS looks to the recipient to pay.

Can you explain this ?  Taxes for property are payable on a taxable event. Normally receipt of property is not a taxable event.

The person disposing of the property has a taxable event for fair market value of the property at the time of disposal.  But that has nothing to do with the recipient.  

According to this, it appears no gift tax is owed until the donor gives away in excess of 5.49 million dollars in their life time. (Excluding the 14000 per year exemption per recipient.)
https://blog.taxact.com/gift-tax-do-i-have-to-pay-gift-tax-when-someone-gives-me-money/
It appears the IRS can go after the recipient if the donor doesn't pay. But this is clearly very rich people problems.
What scammer is going to send me 100s of BTC to try and fleece me for my very small stash for this to be a real problem? Clearly they would be an fool.

If the IRS had to go after the recipient in such a case, the recipient wouldn't get fucked by tax evasion laws for not walking up to the IRS himself would he? Since the sender is supposed to do that part and the recipient couldn't possibly know if the sender neglected his duty?

I don't think the IRS will go after the recipient criminally, unless the recipient agreed in writing to be responsible when the transfer took place. However, I am sure the IRS can make life miserable with liens, levies and penalties.

[B1tUnl0ck3r]

I don’t accept that hard forks are income. Not until you sell them.

A code split is not a dividend.

or maybe pay your irs agent a fair share of what you would have to pay I bet that it must be okay... look who isn't corrupt? who got in jail in the lois lerner total treasonous acts? http://www.foxnews.com/opinion/2017/04/17/lois-lerner-got-off-easy-in-irs-scandal-its-time-to-reexamine-targeting-conservatives.html

there are many non extradition country who kill on sight fbi and other american goons... they don't give a fuck. you know the msm only work on the american slave... the rest of the world... just lol at them. cattles.

The sender has to pay if the transfer value exceeds 14000 per year to an individual. However, if in the event, the sender doesn't pay, then the IRS looks to the recipient to pay.

Can you explain this ?  Taxes for property are payable on a taxable event. Normally receipt of property is not a taxable event.

The person disposing of the property has a taxable event for fair market value of the property at the time of disposal.  But that has nothing to do with the recipient. 

According to this, it appears no gift tax is owed until the donor gives away in excess of 5.49 million dollars in their life time. (Excluding the 14000 per year exemption per recipient.)
https://blog.taxact.com/gift-tax-do-i-have-to-pay-gift-tax-when-someone-gives-me-money/
It appears the IRS can go after the recipient if the donor doesn't pay. But this is clearly very rich people problems.
What scammer is going to send me 100s of BTC to try and fleece me for my very small stash for this to be a real problem? Clearly they would be an fool.

If the IRS had to go after the recipient in such a case, the recipient wouldn't get fucked by tax evasion laws for not walking up to the IRS himself would he? Since the sender is supposed to do that part and the recipient couldn't possibly know if the sender neglected his duty?

I don't think the IRS will go after the recipient criminally, unless the recipient agreed in writing to be responsible when the transfer took place. However, I am sure the IRS can make life miserable with liens, levies and penalties.

depends of your rating with facebook maybe?

[savetherainforest]

More bombs get new orders into manufacturing = BTCitcoin rallies!   

[jojo69]

oh shit

it's on

[Torque]

Somebody forgot to say "dump it". Can't just smoke and point. It isn't that simple.

[bones261]

Another bear trap? Gee, I have to stop shorting corn on Bitmex. 

[BTCMILLIONAIRE]

Syria airstrikes announced by the US, UK and France. Bitcorn jumps. Coincidence or confirminati illumed?

[DaRude]

oh shit

it's on

Well that explains the earlier bump

[bitserve]

Another bear trap? Gee, I have to stop shorting corn on Bitmex.  

Maybe if you guys would stop shorting out of fear we could go on with the bullishness... or, on second thought, we need those rekt shorts to pump it. Ok, whatever.

[bones261]

Another bear trap? Gee, I have to stop shorting corn on Bitmex.  

Maybe if you guys would stop shorting out of fear we could go on with the bullishness... or, on second thought, we need those rekt shorts to pump it. Ok, whatever.

A short is always a pledge to buy later.  

[sirazimuth]

Man i had to log in just to put you on ignore. The idiot gauge is just pegging with you

I think that guy made my list the first day he was here

can you imagine running into that clown at a party after he's had a few?

[BTCMILLIONAIRE]

Another bear trap? Gee, I have to stop shorting corn on Bitmex.  :D

Maybe if you guys would stop shorting out of fear we could go on with the bullishness... or, on second thought, we need those rekt shorts to pump it. Ok, whatever.

A short is always a pledge to buy later.  :D

Sell high, buy higher, ???, profit.

[chichidori]

Another bear trap? Gee, I have to stop shorting corn on Bitmex.  

Maybe if you guys would stop shorting out of fear we could go on with the bullishness... or, on second thought, we need those rekt shorts to pump it. Ok, whatever.

A short is always a pledge to buy later.  

Sell high, buy higher, , profit.

I thought its going to be straight to the top but btc slowed down in the 8k mark and the price swings can give you profit if your going to make a quick trade.

[bones261]

Another bear trap? Gee, I have to stop shorting corn on Bitmex.  

Maybe if you guys would stop shorting out of fear we could go on with the bullishness... or, on second thought, we need those rekt shorts to pump it. Ok, whatever.

A short is always a pledge to buy later.  

Sell high, buy higher, , profit.

I'm just dinking around with Bitmex. I like to dabble in all kinds of things related to BTC and cryptocurrency in general. My liquidated shorts are about equal to a meal for two at Mcdonalds or less.

[B1tUnl0ck3r]

Man i had to log in just to put you on ignore. The idiot gauge is just pegging with you

I think that guy made my list the first day he was here

can you imagine running into that clown at a party after he's had a few?

thank you very much for assessing honestly my posts. yes, I am a clown, nothing else. I don't wish to hurt anyone be it psychologically or physiologically with any of my posts.

I just wish a better, safer, freer world, where I could walk anywhere in peace and tranquility where plants are all respected for what they are, product of life.

A world were people who only focus on a price on a screen to buy lambos, prostitutes and coke will realize that it's not sustainable. A world were women will not fall on the trap of lambo or luxury homes when the real price of those assets is the suffering of other people.

But I am not stupid, I see that it's only wishful thinking.

Following that some posters aren't very smart, don't understand for example the beauty of the visa bans, I don't see the point of wasting my time.

I believe that some of you will be happy to have made a little money by being ultra long earlier, that you rejoice seeing people die... I am sorry for you, and even more for the women who will fall for you.

I hate pollution, dishonesty, corruption etc, but you don't care, just make a buck. you know you will leave in the shit you ignore.

anyway... enjoy your gig, but just know that btc energy needs aren't compatible with war...

good luck with your wins... and maybe when you will wake up from your greed, you will see that many sexual criminals are at large.

bye bye.

[jojo69]

Man i had to log in just to put you on ignore. The idiot gauge is just pegging with you

I think that guy made my list the first day he was here

can you imagine running into that clown at a party after he's had a few?

fucking hell, you, sir, have a perverse imagination

[realr0ach]

I thought its going to be straight to the top but btc slowed down