I thought crypto currency was tax free ?
RE: Coinbase, Bitcoin, IRS?
You are viewing a single comment's thread from:
Coinbase, Bitcoin, IRS?
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
My understanding too. But sounds like IRS is trying to screw us. Glad that congress disagrees. Not sure how long it lasts though.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congress doesn't actually agree that cryptos should be tax free, they're objecting solely on the broadness of the IRS's request. They still want to tax your cryptos though, trust me.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
In the U.S., crypto is considered property. If you hodl, no concern. Once you start converting back into fiat or trading into other crypto, keep records and bring to your accountant.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You answered my question. I was wondering if you only declare the value when you change back into fiat and not other currencies. It would seem that they need a 1031 type rule where you can exchange properties without paying tax.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I found this: https://www.reddit.com/r/Bitcoin/comments/1uccfz/i_am_a_tax_attorney_here_are_my_answers_to_the/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That was a seriously good article @blubeast. Thank you
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I heard someone say once that the IRS only knows what you tell them. I don't agree....and, well, that article really lays it out, doesn't it? Be prosperous.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Depends on where you are I guess.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello there - I am a CPA in state of CA - I've posted a few articles about US Tax implications of cryptocurrency - please take a look on my blog if of interest :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Awesome. Following.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello CanuckPride,
Do you offer tax consultation/preperation services? What is the best way to contact you and your rates?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You declare income/loss when a trade happens, nothing is free in the land of FREE!!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit