GAINS

DankMaster91

Gold is at an ATH id appologise for getting her to jump in on a very volatile market thinking it would make her millions!! and talking her out of one of the most stable investment u can physically peruse. The fact your asking the question on what she should do shows that tbh you have little understanding of the crypto markets so to even recommend this to her without a detailed explanation of the fluctuating markets. Potential loss and HOW LONG SHE WILL BE EXPECTED TO HODL BEFORE ANY FINANCIAL GAINS (1 day - 5 years+) was a bad decision on your part. I’d advise she holds this until a time she can pull it out with as little loss as possible. Or make gains explain it’s a long long term investment and over the last 1-2-5-10 years it has gone up XYZ amount. But learn from this. You are not a financial advisor, financial advisors advise and take the risk of their information on their reputation and business. Some1 with little undertanfing that seen some tick ticks about millionaires and some people who have got ‘lucky’ isn’t ideal You’ve basically talked her out of fixed secure investment and sent her to the roulette table 🤣

JKilla1288

I voted for this, and I am still happy I did. I'll take some short-term pain to stop every trade partner from stealing from us. After the last 4 years of destroying the economy, the only reason this was held off was because it was manipulated to not happen. So keep thinking Trump is the problem all you want. I know this is reddit, and Trump could literally wipe out the national debt and cause 5 to hit a million and this site would still say he's Hitler. Oh, and this very sub reddit told me every day to vote for the person who wanted to pass a 25% UNREALIZED GAINS TAX. that's right. Something that absolutely zero crypto investors would ever push for. This sub pushed for it.

Hodlbag

JAPAN will cut tax on BITCOIN GAINS from 55% down to 20%. Pump ittt

Shoddy-Scallion2523

The only thing that won't recover is My wife after the divorce. COME ON ETH, GIVE THOSE WIFE CHANGING GAINS ASAP!!!!

_SlipperySalmon_

FUCK FIAT! bITcOiN iSnT rEAl Fuck right off!!! Your pieces of paper ran out of the latest HQ laserjet pro are meaningless! EARN FIAT, PAY INCOME TAX, PAY SALES TAX, PAY PROPERTY TAX... THEN WHATEVER MEASLEY AMOUT YOU WALK AWAY WITH THEY MAKE YOU PAY CAPITAL EFFING GAINS TAX. PLUS IF YOU'VE MIRACULOUSLY ENDED UP AHEAD THEY JUST DILUTE IT BY REPLACING THAT LASERJET INK CATRIDGE AND LETTING IT RIP and yet bitcoin isn't real..... Wake up everyone letssss goooooo

ryencool

Do REALLY think this is how taxes work? I'm legit curious, because you're 100% wrong, couldn't be more wrong, so just curious where you learned it. We pay taxes on GAINS. If you sent me 100k in meme coins, I would OWE ZERO DOLLARS in taxes until I sold the crypto for actual fiat cash money. Once that money hit your bank account, it's income, and ypu owe taxes on it. I could keep that 100k in meme coins, and even if it hit a million dollars, I would owe zero taxes until I sold it, and that profit was locked in. If you gave me 100k in a meme coins, and next week it's worth zero dollars, you owe zero taxes my man. Please educate yourself.

Whiskeywonder

What do you expect? You are living in a centralized world. You all want to use Crypto for GAINS!!! And for nearly everyone that means fiat that you want to cash out in the traditional banking system. The dream of decentralized currency is alive and well. I can send someone bitcoin and no one can do anything to stop it. The problem is the masses want a centralized world.

ScottRTL

Litecoin! So some reading and you'll see, it's going to make some BIG GAINS! Imo

BtcKing1111

Capital gains is a tax on GAINS. If one year of inflation is 10%, and one year of investment resulted "number go up" 10%, there was NO GAINS. You didn't GAIN anything. You are exactly where you were a year ago.

gameison007

Maybe I'm wrong here, BUT MY CONCERN WOULD BE THAT IF TRUMP DOES GET A NATIONAL RESERVE OF BITCOIN THE ONLY WAY HE CAN GET HIS HANDS ON IT IS WHEN PEOPLE SELL IT AND THEY HAVE TO PAY CAPITAL GAINS TAXES ON IT AND THAT HE WOULD PROBABLY INCREASE THE CAPITAL GAINS TAX ON IT. I DON'T TRUST TRUMP 🧐🤔

gameison007

All I can say is governments always get a cut of EVERYTHING and I mean everything. You spend $10 at Walmart you get taxed 10%,, you cash in some Bitcoin you then get slammed with capital gains taxes. MAYBE I'M WRONG BUT I WOULDN'T PUT IT PAST TRUMP TO INCREASE THE CAPITAL GAINS TAXES ON CRYPTO. And then he will use that tax money for his own damn greedy agenda. I JUST DON'T TRUST HIM 😤

NoQuartersGiven

My go to. I've def been losing money over the last 10 years. Just in case IRS, I'VE LOST SO MUCH MONEY, NO GAINS TO REPORT.

Every_Hunt_160

I am still waiting on altcoin season to deliver the Fabled WIFE CHANGING GAINS !!

Eggsbenny360

The government wants to tax UNREALISED GAINS YEARLY we will never see anything tax free in our life time

PuzzleheadedAct7320

CKB WILL DEFINITELY BE THE NEXT TOP 10 COIN EVERYONE SHOULD LOOK INTO AND DONT MISS THIS OPPORTUNITY OF MASIVE GAINS. Everyone will Be talking about it in the near future get in early while you still can

jehan-e-fahad

That's interesting, "trading for like a year and expecting profits" Welcome to the market, champ! Correct me if im wrong ya? Your trading memes and ur spreading your money among many while using bots (bots takes a good chunk in fees if you're not sized in) that looks to me as your mistake and that you're actually not taking your time to understand the novelty of meme, strength of team and community (can be measured through X presence - not talking about KOLs) What you can do to actually make profit: 1) patience is your greatest ally. 2) stick to simple jup agg (no bots - I'll explain how!) 3) understand mcaps are very REAL. 4) look for new memecoins everyday that have topped out short-term with decent X presence. 5) learn to use fib retracement (most important levels - 0.382, 0.618 & 0.66, 0.786 & 0.886) How to trade with these: Identify swing highs and lows. Apply retracement tool to those points. Now wait for pullback to 38% level and observe reaction either it breaks clean through or it'd distribute around it for short time. Wait for price to reach 0.618 & 0.66 pocket (switch to 1m timeframe here and look for reversal price action). This will be ur first trade targeting 0.382 level (~30% move/profit). If the meme is strong, it'll reverse from that level if not, it'll dip to 0.786 -0. 886 pocket (again switch to 1m TF and look for bullish price action) from here you'd target 0.618 pocket conservative target for bullish you should tp at 0.382. Every non-rugged memecoin will give you these two trade totalling a confirm profit of 30% to 150% in total. Enjoy and get those GAINS. P. S. I've been trading for the past 3 years and yeah i just gave you a cheat code to profit for free lol

PunxAlwaysWin45

[TOTAL $ INVESTMENT] + [FEES] / [BTC AMOUNT] = cost basis. example: $1000 + $0 / 2BTC = $500 cost basis. Then to calculate your capital gains its: [TOTAL PROCEEDS] - [INITIAL $ INVESTMENT] = GAINS/LOSS You should probably FIFO (First in First Out) track this so figure out an estimate of how much you paid originally for the amount you plan on selling. example: if you sold just 1 BTC from your earlier for twice the price of your purchases of $1000 for 2 BTC you'll have: $1000 - $500 = $500 of gains. based on other tax information you may be responsible for a percentage of tax on that $500.

Wendysmanager24

To the sidelined bears: HEY HEY HEY GOOD BYE What a time to be alive folks, I am honored to be here holding these bags with you today. We are reaching NEW ALL TIME HIGHS almost every day and face imminent propulsion into LIFE CHANGING GAINS - but only if you have loaded your bags. The bears have had almost a year and a half to do so but instead they chose to complain and FUD the forums trying to chip away at your resolve and fortitude. Those who stood strong in the face of adversity are here ready for BLAST OFF. WOOOOOOO BTC 200K EOY AVAX TO 400 BULLS WIN AGAIN

CreepToeCurrentSea

pros: the possibility of WIFE CHANGING GAINS cons: the possibility of WIFE LEAVING LOSSES

Permtacular

One thing I will mention. Someone PLEASE CORRECT ME IF I HAVE BAD INFORMATION. You should buy BTC and keep it in a cold wallet, but if you ALSO buy BTC ETF's in a ROTH IRA, as you withdraw from it when you retire, you WILL NOT PAY ANY GAINS ON YOUR BITCOIN. So, if you buy ETF's at $60 a share now, and when you retire, they are worth $6000 a share, you can withdraw that money without paying any capital gains taxes. That is the beauty of a Roth IRA. You are limited on how much you can put into a Roth IRA each year. And it must be a Roth IRA. No other type of IRA has these rules.

RevolutionaryLime404

💎GET READY FOR THE NEXT BIG MEMECOINS🚀 EXCLUSIVE DROPS, INSANE GAINS AND THE HOTTEST COMMUNITY! DONT MISS YOUR CHANCE TO BE EARLY! https://discord.gg/2C52DTUX TIME IS MONEY, DONT GET LEFT BEHIND💰🚀

RevolutionaryLime404

💎GET READY FOR THE NEXT BIG MEMECOINS🚀 EXCLUSIVE DROPS, INSANE GAINS AND THE HOTTEST COMMUNITY! DONT MISS YOUR CHANCE TO BE EARLY! https://discord.gg/2C52DTUX TIME IS MONEY, DONT GET LEFT BEHIND💰🚀

RevolutionaryLime404

💎GET READY FOR THE NEXT BIG MEMECOINS🚀 EXCLUSIVE DROPS, INSANE GAINS AND THE HOTTEST COMMUNITY! DONT MISS YOUR CHANCE TO BE EARLY! https://discord.gg/2C52DTUX TIME IS MONEY, DONT GET LEFT BEHIND💰🚀

randomFrenchDeadbeat

He is using the slippery slope fallacy, which is pretty obvious and easy to avoid, when someone actually want to avoid it. You are using the red herring for the second part of your message. It has nothing to do with whatever he is saying. And he isnt right, since the amendment says NOTHING ABOUT TAXING UNREALIZED GAINS.

twalker14

Claiming profits as the wave goes up. I’ve seen it launch and projectile back down a few times, not worth hanging on for a few potential extra bucks. SECURE THE PROFITS, MAKE THOSE PAPER GAINS REALITY

Bayareavuln

Explain because there is no GAINS being taken out. So if you buy a crypto asset and immediately sell it for the same price you now have to pay capital gains taxes? Make it make sense

meowmixyourmom

Very early on (2012) o told myself I'd never try and convince anyone. Why? THEY WILL BLAME YOU FOR THE DIPS, and THEMSELVES FOR THE GAINS. Not worth it. People need to DYOR

Ok_Golf_6467

Here we go! GAINS ARE BACK ON THE MENU BOYS

BanzaiKen

I wish I learned this before I ran 30k to 72k and THEN SHOVED MY GAINS INTO THE ETH ETF WHAT THE FUCK VITALIK?

Wendysmanager24

To the sidelined bears: HEY HEY HEY GOOD BYE What a time to be alive folks, I am honored to be here holding these bags with you today. We are on the CUSP of NEW ALL TIME HIGHS and an imminent propulsion into LIFE CHANGING GAINS - but only if you have loaded your bags. The bears have had almost a year and a half to do so but instead they chose to complain and FUD the forums trying to chip away at your resolve and fortitude. Those who stood strong in the face of adversity and here ready for BLAST OFF. WOOOOOOO BTC 200K EOY AVAX TO 400 BULLS WIN AGAIN

7in7turtles

This is bonkers, just bonkers. What a ridiculous joke of a country. UNREALIZED GAINS? Would you get tax credits on unrealized losses? Basically, they just gave every single person who owns any significant crypto stake, a deadline to leave the country.

MiceAreTiny

I do not know the taxation in france. But as a general principle, you only need to declare the GAINS when you sell. If you are holding, nothing to declare.

ValuableOk9775

People who "HAD GAINS" in Zimbabwean dollars should be really happy.

SmoothGoing

>pay an additional 40% on every purchase Tax is on gain, not the purchase amount. No need to be upset about paying the tax. You've HAD GAINS, be happy about having *more* than before. No gains no tax.

Novel-Counter-8093

suddenly the libturda forget about TAX ON UNREALIZED GAINS if she gets elected

Every_Hunt_160

This is why they call crypto WIFE CHANGING GAINS If you make a windfall - Wife asks for a divorce so she can take your crypto If you lose all your money from crypto - Wife asks for a divorce because you lost all your money CRYPTO IS WIFE CHANGING !!

Every_Hunt_160

Crypto brings WIFE CHANGING GAINS for once?

Every_Hunt_160

Yes, the diversifier which gives WIFE CHANGING GAINS

Wendysmanager24

WHERE ARE THE BEARS WHERE IS SUB 50K I've been taking a big break folks because honestly it was bumming me out looking at the daily with all the europoor butters yapping about how their 50 euro bet is down 99%. I'm happy to report I recently sold my BTC for a 42k profit after holding for 1 year and getting that LONG TERM CAPITAL GAINS TAX RATE. It's unbelievable fellas 15% instead of 35% or whatever it is. Now I've taken that 82k and another 50k bullet and I've gone all in All in on what? YOU GUESSED IT FOLKS IM ALL IN ON AVAX. 132K ALL IN along with my 60k buy last year for a TOTAL OF 192K with an average price of 23. That's right fellas every time this bad boy goes up $2.3 that's another 19k for me I am locked and loaded folks we got JPOW PATRON SAINT OF THE ECONOMY inbound tomorrow. We got the HALVING IN EFFECT. WE GOT THE ETFS IN EFFECT WE GOT THE GREY SCALE AVAX TRUST ROLLING BTC TO 200K AVAX TO 300 BULLS WIN WOOOOOOOOOOOOOOOO

Gen_X15

Bought some SOL W MY TRON GAINS AND LONG IT x10. Will close in October or whenever the local top hits. This year has been good to me. Steady gains. All year! Fuck the bears

Dont_Be_A_Dick_OK

“SHE WANTS TO TAX UNREALIZED GAINS FOR PEOPLE WORTH OVER $100 MILLION! I WILL NEVER FINANCIALLY RECOVER FROM THIS” - mfers in here who are worth like 50 bucks.

crimeo

The tax is not on the entire value of your investment, it's on GAINS. How much as the Dallas Cowboys gone up in value since he bought in? If, for example, it went up 10%, then his tax is only 2.5% of the total value. Which he can almost certainly pay from other assets floating around. If not, he can sell to cover it (there would be no need to sell all of his share, just 2.5% of it at most)

Gutz_N_Gunzz

Life Changing gains Soon to be —> WIFE CHANGING GAINS

Joe_Smith_Reddit

At least he is pro Bitcoin and does not hate it like Harris who called him “money for criminals” and do not forget that the Biden HARRIS administration wanted to tax unrealized capital gains, which would be the end of Bitcoin[TAX ON UNREALIZED CAPITAL GAINS](https://bitcoinmagazine.com/business/unrealized-capital-gains-tax-stock-bitcoin)

Osmosith

cap gains? # WHY NOT UNREALIZED GAINS? Don't you want to PAY YOUR FAIR SHARE to politician paychecks and some wars?

Every_Hunt_160

This is why they say most people only get rich in their second bull run at the earliest. The next one will be my second, so fingers crossed for WIFE CHANGING GAINS then!

BTCWZRD

Stop. Breath. You’re not going to miss any train. Theres PLENTY OF OPPORTUNITIES IN ALL MARKETS FOR MASSIVE GAINS ALL DAY EVERYDAY. What you need to do is strategize. Buy a little bit at a time, every time the price dips or dumps, you throw in a couple bucks here and there. Maybe a couple hundred. Do this for.. well pretty much forever and you’ll be okay. Any amount of BTC is better than no BTC. Get what you can now and stack sats when available again. I know what you’re feeling. Don’t let your emotions get the better of you. Also, I recommend buying fractions of BTC on multiple platforms and exchanges, no just one. Just in case in the unlikely case of a hack, lost password, phrase or device. Good luck and happy stacking!

Ok_Rub249

I agree with you about risk in the short term, but I think you still don't get capital gains. You NEVER lose net money paying capital gains. You only pay taxes on GAINS, and you only pay 15-20%, so you still get 80-85% of whatever it appreciated. If you bought $100 worth, you would never have less than $100 after paying capital gains no matter how much it grew or not. You would only have less if the value depreciated.

Liiuc_

SAME MATE! like wtf... holding pepe is definitely better than holding eth (JUST FROM A SHORT TIME GAINS PERSPECTIVE...) ... I still think that in the long run alts will perform way better

EnvironmentalFan6640

The $POWSCHE community is getting so strong. We all know what this means - GAINS. People = Power and we’re growing in believers. You’re probably looking at $Powsche and wondering if you should invest or not. Well, do it now or get that feeling of FOMO and regret (we’ve all been there) when it starts climbing high and you missed such a great entry point. LFG!!

slvbtc

ALL CAPITAL GAINS TAX IS THEFT!!!! Everyone in this sub knows its not the price of the asset going up, its the purchasing power of the dollar going down!.. All assets rise in price over time because the currency is being debased and assets are denominated in the debasing currency. The government prints money diluting your purchasing power and that causes the price of your asset to rise, they then tell you you owe tax on the price rise when the price rise was caused by government money printing and was doing nothing but slightly offsetting the dilution of the currency. So the government causes your asset to rise in price by destroying the currency, then they claim you owe tax on that price rise. Capital gains tax is just as immoral and disgusting as the inflation tax as they are essentially one and the same. They both cause you to give your money to the government based on how much the government mismanages the currency. The more mismanaged the currency is the more inflation there is, and the more inflation there is the more capital gains tax you pay. It is literally sickening. It is straight up theft. Its absolutely criminal. All capital gains tax is absolutely immoral.

sunnnnnnnyyyyy

Buy DOGEVERSE on Uniswap BEFORE it gets listed in a month!!! HUGE GAINS!!! 0xcbe044eeba2793f640d3b60cb94ee57c1f21541c There’s the contract for it!! Do yourself a favor and get it while it’s still low!!!

c787

WARNING HIGH POTENTIAL GAINS The new meta is Country Coins, and sweden on chain is one of a kind. With Euro vision just started in sweden and the World Championship in ice hockey just around the corner sweden is a coin thats here to stay. At 100k mc today i dont see how 10x from here is not an easy play. Get your entry now, thats right its FA;) https://t.me/SWEDISHCOIN https://dexscreener.com/solana/BVAt1aqR6CVCxFseVYhR61WNdg1RXrj2ThPdtanJ45Co

c787

WARNING HIGH POTENTIAL GAINS The new meta is Country Coins, and sweden on chain is one of a kind. With Euro vision just started in sweden and the World Championship in ice hockey just around the corner sweden is a coin thats here to stay. At 100k mc today i dont see how 10x from here is not an easy play. Get your entry now, thats right its FA;) https://t.me/SWEDISHCOIN https://dexscreener.com/solana/BVAt1aqR6CVCxFseVYhR61WNdg1RXrj2ThPdtanJ45Co

c787

WARNING HIGH POTENTIAL GAINS The new meta is Country Coins, and sweden on chain is one of a kind. With Euro vision just started in sweden and the World Championship in ice hockey just around the corner sweden is a coin thats here to stay. At 100k mc today i dont see how 10x from here is not an easy play. Get your entry now, thats right its FA;) https://t.me/SWEDISHCOIN https://dexscreener.com/solana/BVAt1aqR6CVCxFseVYhR61WNdg1RXrj2ThPdtanJ45Co

xBrodoFraggins

People act like the taxable event is on the entirety of what you pull out. It's only the realized GAINS. Are there some people that are exponentially up? Sure. Most aren't, and whatever you pull out, you'll only pay taxes on the portion that are actual gains. And even still, paying 15-20% of your profit isn't that big of a deal, and you're going to have to pay it sooner or later...

snoughman

DO NOT SELL. GAINS AND LOSSES ARE NOT REALIZED UNTIL YOU SELL. Why do people buy high and sell low I really don't understand?!?!?!?!

OffThread

Really? TAX FREE GAINS ROTH IT, NO TAXES PAID. Duh.

MysteryLiezer

Bitcoin doesn’t “just work” when compared to fiat, though; There is no fiat exchange, there are no extra steps necessary towards spending it (in most cases); I literally get paid automatically, and sometimes, my money is even SPENT automatically (through recurring payments); the same way you don’t get paid to custom-roll Gentoo boxes, is the same way I don’t get paid to have to figure out how to pay each separate bill with bitcoin, especially when I already had to exchange my easy-to-use-for-this-use-case fiat for bitcoin that I rarely use (except as a store of value until it’s enough for me to, once again, exchange for fiat). In life, there will always be trade offs; us in Bitcoin trade inoperability for deflation; with Linux, I personally trade user experience for privacy/transparency/freedom, overall. I couldn’t help but wonder why the Linux trade offs aren’t deemed to be worth even a simple VM install, to a bunch of people who claim to be sooooo passionate about freedom (when what they’re really passionate about, are GAINS). You’re familiar with Linux, and these “vents” have less to do with you, personally, so I appreciate you for allowing me the room to express myself.

MakeItMine2024

Typical action before a halving.. could be a little frustrating for the next 3-4 months but if you want to know what to expect pull up the historical BTC price per day or week as we are in the equivalent on April 23rd 2020. The global amount of BTC mined per day is about 930 and that will drop the 465.. ETFS are purchasing exponentially more. I would take the opportunity to load up as SANTA IS COMING TO TOWN with BIG GAINS this CHRISTMAS

BiffTannen1855

Again this is absolutely incorrect. Line 21 of Schedule D (form 1040) which is the CAPITAL GAINS AND LOSSES form says "If line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of: • The loss on line 16; or • ($3,000), or if married filing separately, ($1,500)" Meaning you can ONLY use $3k of carryover losses to offset EITHER ordinary income OR capital gains. Also I'm a CPA.

BiffTannen1855

Again this is absolutely incorrect. Line 21 of Schedule D (form 1040) which is the CAPITAL GAINS AND LOSSES form says "If line 16 is a loss, enter here and on Form 1040, 1040-SR, or 1040-NR, line 7, the smaller of: • The loss on line 16; or • ($3,000), or if married filing separately, ($1,500)" Meaning you can ONLY use $3k of carryover losses to offset EITHER ordinary income OR capital gains. Also I'm a CPA.

sheff404

JUST STARTED CRYPTO for reasl. I HAD 14.56% gains this week. MY GAINS THIS WEEK ( SHIBA INU & BCH ONLY what does everyone reccommened as i continue trading and holding? (FYI i use coin base too- and if anyone recommends meme coins DM me.) For those that dont understand crypto, the way i see crypto, the only way for it to gain value is for you to hodl it, and as others buy in, it goes top in value, with the point being that you'll only withdraw when you need to spend it it and it is a savings account of some form. When big sell-offs happen the price decreases, but if everyone holds and more buy, the price goes up as the currency becomes more scarce. whats cooler with shiba is that we control the burn rate. however, people try to trade on the ups and downs too much and instead of a consistent uptrend, it sometimes downtrends. I suggest everyone Holds. this gain is unprecedented and I was never into crypto before this week,. I finally get it. for anyone who trades stocks and doesn't understand crypto trust me, buy shiba., it will double when bitcoin halves. CRYPTO HEADS- can you confirm my hypothesis?

Screwstonplaya713

Lmaooo realistically, you need a whole bitcoin and not just a percentage to see ANY MAJOR GAINS! And everybody knows trust Wikipedia before you trust Google! 🤣😂🤣😂

I_HATE_GOLD_

https://preview.redd.it/bwdawzic7tmc1.jpeg?width=3464&format=pjpg&auto=webp&s=6316d9eb52e2c119e12e774ed72509f6b88b1105 GET THEM GAINS!!!

hotredrabbit

1. NEVER NEVER NEVER SPEAK PUBLICLY ABOUT YOUR GAINS AND LOSSES WITH CRYPTOS 2. Learn to read the graphics and identify patterns so you can get an idea of trend inversions.

brianobush

> They already take 35% of my paycheck smh. Feels like just twisting the knife to tax it again. You don't pay taxes on that portion, you pay taxes on the gains. That is why it is called capital GAINS tax.

Grouchy-Ad981

So not true imo. The biggest GAINS in the shortest amount of time are made of yolos, but so are losses. If you dont know what you are doing, have a solid plan in place, DCA id say has to win here. ESP when your talking about any stock / asset / whatever thats close to new highs. Least there is a pretty good chance this guy could still cash out in the black if he pays attention, Im hoping for a low of 100k this cycle, but your also talking like a 2T market cap

GonePhishn401

Dude..you’re literally describing REALIZING YOUR GAINS. Holy shit..I just can’t. This must be a troll. I’m all done here.

Barabbas-

You're taxed on 20% of your profit, not the value of your investment itself. Hence the term: Capital GAINS. If you're making $1mm selling Bitcoin after deducting the cost(s) of your principal investment, then you're rich as fuck and you're exactly the type of person who SHOULD be paying taxes.

ArnzenArms

The argument that you need inflation to drive purchasing and the economy is a foundational Keynsian lie and easily debunked. Why does anyone buy an iPhone? Or any cell phone? They get better and cheaper in performance / dollar terms every year! Why would anyone buy any computer products at all? You should read Jeff Booth's "The Price of Tomorrow." All human advancement results in increased productivity which is deflationary. We are all miscalibrated in thinking we're only losing the 2-3% purchasing power with inflation. We are losing that PLUS ALL THE PRODUCTIVITY GAINS. It is all being stolen by people who aren't even elected. The elected folks just tax us to take a little more and fool us into thinking we have some agency and can affect things with our votes.

Metz83

You almost certainly input something wrong, or there was something else you put in later that is responsible. Short term capital gains tax is a tax on GAINS (i.e., profit). Since you had none, there shouldn’t be any tax resulting from that. I traded some shitcoins for Bitcoin which is a taxable event, but all of them were at losses. I had no gains on any of them, and my refund was not changed at all after inputting them.

ptrnyc

Yeah it’s insane. Imagine, if you cash in some investments that made 7% (and thus lost money), you still have to pay freaking capital GAINS on these 7%. Insanity.

UpsetPush

Rite for certain and HELLO CRAZY 😝 GAINS BUT GREAT PROJECTS

ROBINHOODEATADIK2

That sounds like a good plan …. Unless they end up doing like the cognitively challenged moron in the White House has suggested and start taxing UNREALIZED GAINS !!!

fairysquirt

... it's just called accounting a CAPITAL GAINS TAX EVENT, does not mean you're taxed on every trade, it means you need to keep a record of every trade because CGT is triggered at point of disposal. you could figure out CGT by your first and last trade and the value change is clearly gain in your capitals value. the thing is we don't do one tidy first and last trade we split it off, some things we hold something we day trade. so they are just saying you need to do CGT properly like LIFO or FIFO or what ever. yes every trade is a taxable EVENT, but it doesn't mean you're taxed on every trade like some sales tax bs... lets say you do a trade and your capital value has increased 200 usd, like you bought 2000 usd of bitcoin and then next time there's an event you are buying 2200 usd of eth with it? where did the 200 come from? it's a capital gain right? and you're saying you pay tax on that trade? right? WRONG. why? well because your NEXT trade after that a month later you are selling your 2200 usd eth for 2000 usd sol, where'd the 200 usd go? well if you can only buy 2000 usd of sol now its because your eth is worth 2000 usd at the time right. well whats +200 -200? it's 0, so you aren't fuking paying capital gain on either trade they cancel out and you have NO CAPITAL GAIN, all you HAVE is two records ie cgt EVENTS showing that. so stop dramatizing basic accounting, you NEED every trade record, deposit and withdrawal to ACCOUNT for, why your capital total value at start of financial year was 100 USD and EOFY is 20000 USD, you're being being taxed on the capital GAIN in the END, not the middle, you just need to account for your business dealings. minus expenses/costs. the thing is, if you want to buy and hold crypto, CGT 'end result' is only determined at point of disposal, and if you hold for one year TAX on capital gain is halved in many countries. you could buy bitcoin and eofy it has gone up 19000 usd, and you never pay tax on it until you dispose of it, triggering a CGT event. but not every trade is taxed, it is just an EVENT the last disposal event determines the most recent point of reference for its value where tax is concerned, like... you may have done your last trade in august, and now its worth 10x more in december, but you aren't paying 10x more capital gains tax, because the value is determined by the latest disposal. they aren't taxing your every profitable trade, it's just basic accounting of a capital gain. initial value determined by expense/buy in and sum total value of every asset you hold, with a value determined by the last event as that is the running total value. maybe all your asset were worth 20x more in the middle, why would you be taxed on that total value, when before eofy you're back down??? clearly capital loss cancels capital gain.

FFMooch

AH, YES! I mean, if youre here, youre not even thinking of #3. #2 is awful. I have had TWO boating accidents in recent years. Rough times. And finally, anyone else notice on Twitter how all the so called experts are BACK! Geniuses, just aching to share their knowledge. NOWHERE to be found when BTC was 16k, but here they are. Back and with larger fake followings than before. Let us not forget, no one knows anything, you're not as smart as you think, you can not use leverage and MAKE EVEN MORE GAINS. Just stack and hodl. it IS that simple.

libretumente

You said fiat GAINS. I'm talking about real world utility being the reason some people buy and use crypto, not solely for speculative 'fiat gains'

SmooveMari

Happy new years everyone in this space! WE ARE STILL EARLY in this journey! CHEERS TO MANY GAINS THIS NEW YEAR📈🚀

Substantial-Rub1736

Yes - YOUR ARE TAXED ON THE GAINS OR LOSSES. In other words, if the crypto hasn’t moved significantly it’s a complete non issue. The taxable event is on gains/losses that are realized it’s not a fee to the government for exchanging from one currency to another.

NeminemLaedit

Nope i) The tax-free threshold is £6k, falling to £3k in April '24. ii) You pay tax on the GAINS, not the gross withdrawals,and you must calculate your gains and enter them in the SA boxes.(Use Koinly) iii) The basic CGT rate is 10%, the higher rate 20%. You must ADD your gains to your other income, salary, interest, rents, etc. The portion of Capital Gains that fall under £50, 270 (all income) will be taxed @ 10%. The portion above will be taxed @ 20%.

Ok-Ant-2143

Haha...I figured this out when btc Was $16k...sold and took the smaller hit on taxes, bought into BTCC.B immediately. (Lost a small amount due to fee's and slippage but who cares.) It was like a lightbulb going on in my head...TAX FREE CAPITAL GAINS. I know this sub will shit on it...but the lure of tax free is too good to ignore. (Sorry American's...you have to wait for you ETF's before you can do the same.)

LargeSnorlax

[When you see people posting about a coin in the daily and go to check](https://i.imgur.com/7XwRdia.png) Expectation: *"HOLY SHIT THIS IS GOING TO THE MOON, 5X GAINS"* Reality: My stocks went up more.

doubleknocktwice

Try to create a legit pumping coin. Say you create a leverage trading platform and offer high leverage. Create an ETH vault. People can trade in ETH and bet on coin prices going up or down. How to protect the ETH vault if more people win than lose? Create a coin that gets part of the trading fees. So you hold 10,000 GAINS. You get part of the trading fees. ETH vault gets drained due to good traders. So GAINS are minted and sold for ETH. Enough GAINS are bought and between traders losing and GAINS being sold, the ETH vault is well funded again. Assume more traders lose than win. The extra money can go to buying GAINS and burning it. So not only do you get ETH from trading fees for holding GAINS, there are GAINS being bought and burned by trader loses. And with your ETH rewards, you can buy more GAINS and get more ETH in rewards from your larger stack. And you can build upon that.

BigGaynk

that's what he is saying, but what he i implying is BUY NOW GET IT NOW BEFORE IT MOONS BUY BITCOIN BUY BUY BEFORE THE RICH WHALES SLURP UP THE GAINS

doodaddy64

> Accounts covered by the court order were determined by the sum of deposits, withdrawals, and trades conducted by the account. If I have it correctly, normal tax law is that ALL your GAINS are reported on a 1099. So for instance, the price of a stock minus the price at which you bought it is sent to the IRS. It sounds like here if you just bought crypto, you are already reported. The IRS doesn't need that info, but they get it. And what "court in California" is this? And why do they decide? > What information is being shared? > Transaction history for 2016 to 2020 OK. So transaction history going back years is ALSO well above normal IRS procedures. They don't get the "transaction history" and they don't go back years until they have a subpoena for some reason. And on it goes. The US is the fascist state that it mocked every other small country for.

TripTryad

This is a lesson nearly every old school crypto investor has learned if it makes you feel any better. Youll likely be back, but youll only bother with alts during the bull run when they are going crazy, and youll avoid them and go BTC during bear markets at best..... because thats just how it works. Everyone that's new avoids the big market cap king during their first bear market, because they want those "HUGE GAINS, not some measily 2x". But once you realize that its just going to burn you 99% of the time, you move differently in that next cycle.

analogOnly

There is no income tax on selling bitcoin you've bought, period. Exception - You mine bitcoin, it is a source of income, you pay income tax on it Exception - You are paid wage directly from your employer in bitcoin, you pay income tax on it. ALL OTHER FORMS OF SELLING BITCOIN ARE NOT INCOME, and you pay CAPITAL GAINS TAX. That is it.

pandaslovetigers

I don't understand. Capital loss implies that you SOLD (at a loss), and that's only to be deducted from capital GAINS tax overall. The government won't send you money because you got hacked or had your jewels or Bitcoin or car stolen... Care to explain in more detail what you mean?

ra246

Viewer making $GAINS

Dr_Will_Kirby

Sooooo i have been in this CLOWNY ass space for almost 3 years now.. STILL NOT A SINGLE FUCKING CENT OF GAINS Crypto is one of the biggest scams of our time… change my mind

Dr_Will_Kirby

Ive been in this shit for 3 years man… NOT ONE SINGLE CENT OF GAINS… I just don’t know anymore

Qptimised

The guy has $1.5million in something called GAINS (GNS).

SetoXlll

I'm in it for the tech but if I'm green, ima sell for GAINS all day everyday playa!

BarryTheBaptistAU

What a lot of folks forget about is the taxes and clips exchanges, and the tax departments clip. Sure, it depends what country you live in and the tax regime there, but if 100K turns into 1M, you have technically made a capital gains tax (CGT) of 900K. That is after you take out exchange transfer fees. In my country, that would equate to roughly 40% of 900K, or 360K in CGT leaving you with just 540K net profit or 5.4x. Hardly life changing money in most 1st world countries. Even if you add back you initial 100K, 640K won't even buy you a 2-BR apartment in many countries. The situation and world view is really skewed in developing and 3rd world nations. There is no way in Hell you are going to have 100K lying around to invest in crypto for starters. Secondly, even if you were gifted 100K USD in your local currency, you'd have to ask yourself, "*Would I be more likely buy a house outright, plus a new car outright, plus some of life's little luxuries, OR invest it in highly speculative and risky investment like crypto that is going to be taxed and clipped at every point along the way?"* STOP LOOKING AT GAINS AS PURE PROFIT!!!!!!!!!!!!!!! It's not that simple.

ChrisDlegend

When people tell you there are massive gains in project x... THERE ARE NO MORE GAINS IN PROJECT X.

Traveler-0854

I would assume most people here don't sell when up and then buy back when it dips. They're too focused on BIG GAINS instead of steady profits.

crust-xyz

"GAINS"

BlubberWall

Adding this to my RothIRA the second I can TAX. FREE. BTC. GAINS. IRS can suck it

supersmoked420

LOL! BIG GAINS TODAY!! Fingers crossed