Bitcoin FALLS as 2017 USA investors now have to pay 40% TAX

[Airborne Warrior]

Large Investors in Btc in USA last year now have to pay 40% tax and are selling off btc to cover the Bill

[1715410146]

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[1715410146]

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[1715410146]

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[sysoe]

It would have been better if you added some reference to this as I do not see any such news online on any reputed site.

[otrkid1970]

Large Investors in Btc in USA last year now have to pay 40% tax and are selling off btc to cover the Bill

They are idiots. Why would you Volunteer information such as how much money you received or sent to the I.R.S?

[squatter]

Large Investors in Btc in USA last year now have to pay 40% tax and are selling off btc to cover the Bill

Taxes for 2017 were due by April -- 8 months ago. In many cases, estimated tax payments were due earlier than that. What you're saying may have applied to the first few months of this year, but not now. This year was a lot less profitable than 2017, so there's probably a lot less sell pressure from people covering tax liabilities now.

Also, 40% used to be the maximum tax rate on capital gains. For 2018, short-term capital gains are taxed at the normal income tax rate (0-37%). Long-term capital gains are taxed at 0-20%.

[MainIbem]

OP may be using this thread as a project to gather information as the original intention is a vote. If you want to assist in the project evaluation you are free to submit the information he needs. IMO.

[pooya87]

every year a couple of people come here and say the same thing about how people sold or will sell bitcoin to pay their taxes and every year we never see any major movement in price to justify that. besides it doesn't make any sense to sell your assets just to pay your taxes.

and as far as i know capital gain is only paid when the asset is sold which means as long as you don't sell bitcoin you don't have to pay the tax. and also this year price has fallen so there was no profit to pay the taxes for!

[cryptokingdom]

This is not in any way the reason the price of bitcoin fall. Since according to your statement 2017 USA investors taxation is the cause of this dip. Does it means the Government will just force them to pay tax just by keeping their coin in their wallet?

[bitfocus]

why don't you put some reference with your claim? that might help you get more response to your poll.

[LFC_Bitcoin]

every year a couple of people come here and say the same thing about how people sold or will sell bitcoin to pay their taxes and every year we never see any major movement in price to justify that. besides it doesn't make any sense to sell your assets just to pay your taxes.

and as far as i know capital gain is only paid when the asset is sold which means as long as you don't sell bitcoin you don't have to pay the tax. and also this year price has fallen so there was no profit to pay the taxes for!

Exactly!

Absolutely moronic OP FUDDING with no source. Who the hell declares everything related to bitcoin any way. Not going to incriminate myself but come on! You have to be special levels of stupid to be honest with the tax man regarding crypto.

[Bitcoinwaist]

i think there are going to be more capital losses reported than gains this year.