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Topic	Crypto General #9: A Ripple in the Cryptospace
FLUFFYGERM 01/03/18 9:43:23 PM #49:	-GalacticBass- posted... FLUFFYGERM posted... -GalacticBass- posted... How is everyone going to file taxes? I have no idea how to even get started lol. im going to pay income tax on the gross income i made in crypto in 2017. gross income meaning the profits i realized after selling. not including my original investment speak with a professional tho This seems ideal. However, apparently the IRS sees every crypto trade as a taxable event. Say I trade BTC for Ripple, I have to pay taxes for that. I traded a bunch of alt coin before realizing this and it's going to be a nightmare trying to pick up the pieces and find out what I owe. you only pay tax on the profit iirc so you can just calculate the total profit you made and pay income tax on it --- but Marxist theory is extremely consistent, both internally and with reality. -averagejeol <cite>FLUFFYGERM posted [p:893380855] in Crypto Gen... [t:76165892]...</cite> <quote><cite>-GalacticBass- posted...</cite> <quote><cite>FLUFFYGERM posted...</cite> <quote><cite>-GalacticBass- posted...</cite> <quote>How is everyone going to file taxes? I have no idea how to even get started lol.</quote> im going to pay income tax on the gross income i made in crypto in 2017. gross income meaning the profits i realized after selling. not including my original investment speak with a professional tho</quote> This seems ideal. However, apparently the IRS sees every crypto trade as a taxable event. Say I trade BTC for Ripple, I have to pay taxes for that. I traded a bunch of alt coin before realizing this and it's going to be a nightmare trying to pick up the pieces and find out what I owe.</quote> you only pay tax on the profit iirc so you can just calculate the total profit you made and pay income tax on it --- but Marxist theory is extremely consistent, both internally and with reality. -averagejeol</quote> ... Copied to Clipboard!
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