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New Cryptocurrency Taxes Made Simple To Understand in 4 Minutes



New Cryptocurrency Taxes Made Simple To Understand in 4 Minutes
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24 comments

  1. all taxation is simple to understand… its theft #taxationistheft

  2. 15% ?! Fucking bullshit

  3. Hi SaleDaddy1 – thanks, you said, it's takes effect next year, meaning any transactions in 2018 are definitely reportable, but 2017 is up to me

  4. The Short and Long Term Capital Gains Tax depends on your income level. For those who earn the least, your long term capital gains percentage could be as low as 0%. For those who are in the middle income bracket, its generally around 15% for the long term capital gains. You have to hold the crypto for more than a year before cashing out or trading to get the long term capital gains percentage. For the short term capital gains, you will have a higher percentage rate.

  5. And they going to somehow track all that volume and trade with each currency on different exchanges lol right.

  6. How about just paying tax when we cash out to fiat? I dont trade either…

  7. Here's some step by step guides to setting up wallets and buying cryptocurrencies: https://getcrypto.info/

  8. How will they possibly track this, honest people will pay, everyone else will get out of it and probably have no repercussions.

  9. Just FYI. Here is a tax tracking software that should help https://cointracking.info/pro.php

  10. EMBERCOIN IS ABOUT TO EXPLODE AFTER TODAY'S NEWS. PUT IN A FEW DOLLARS FOR HUGGGEEE GAINS!!!!
    REPLY

  11. Brandon Fernandes

    I'm young. How would i go about paying these taxes.

  12. What If I have never sold any coins for profit, but sent them from coinbase to Binance to exchange for other coins and plan to keep them there for over a year? I'm a student and barely make 10k a year. Would I be required to pay taxes on anything?

  13. Fuck the government.. Fuck the IRS, fuck the law and the judges

  14. What if I'm trading constantly on binance. I also sell ripple at the Peaks and rebuy it at the dips not just Ripple other cryptos too

  15. Its complete robbery…on every trade..

  16. I have not been keeping track of any of my crypto stuff. Can I just have it taxed once I cash out?

  17. Which software? You didn't name it??! Not all trading software allows for crypto trading AFAIK. Otherwise thanks this was helpful.

  18. if i bought $1000 worth of Doge in 2017 and it rises to $1200 in 2018, and then i trade to ETH, am i taxed for $200 (cuz that is my profit on Doge) or $1200?

  19. Cryptocurrency will be the mark of the beast.

  20. you are good at it , thanks for sharing ,got it ,thanks !!!

  21. Wow, a "no tax guy", giving CRYPTO advice to the city of the death…

  22. I say. lose the fed reserve, lose fiat money, lose crypto currency, lose wall street.
    An move back to letting the people gather their own resources.
    Oh, and drop eminent domain.

  23. If you trade at a loss, no taxes withheld? If you trade at a profit, either short term or long term, you pay a percentage on the gain made, not the whole amount right?

  24. @SaleDaddy1 the new tax bill only applies to taxes filed in 2019 and onward??????????

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