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People should know you will get tax for mining in the USA.

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  3. People should know you will get tax for mining in the USA.

User Info: SilentHawk29

SilentHawk29
4 months ago#51
So is this just a tax on Bitcoin or all cryptos? You can't use anything else as actual currency and with it being so volatile, it seems a bit silly. Are stocks also taxed before you cash out?
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The cranky hermit 4 months ago#52
https://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
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User Info: strat10

strat10
4 months ago#53
Damn those miners that does daily cash out will fall under short-term capital gain tax. lol GG miners.

User Info: HOTHorneHeights

HOTHorneHeights
4 months ago#54
f*** taxes

User Info: zhenghan

zhenghan
4 months ago#55
Tax the s*** out of them lol, they're contributing to global warming after all.
"dude i am like a 10 th grader,i am not smart i am not smart okay.i know basic english not level 100 english lol" -stephanielish
#56
(message deleted)

User Info: Cpt_Communism

Cpt_Communism
4 months ago#57
WTF people? Pay your taxes. Using it for tax evasion is how you get cryptocurrency banned.
Recognizing it as capital gains income also means you can claim capital loss as well. If you bought bitcoin and it lost value when you sold it, you can deduct the difference from your other income. You pay a small portion of your gains to the taxman and in exchange, he make your super risky investment risk free. It's a good deal, take it.
You're not obligated to attend every argument.
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User Info: Viper187666

Viper187666
4 months ago#58
Cpt_Communism posted...
WTF people? Pay your taxes. Using it for tax evasion is how you get cryptocurrency banned.
Recognizing it as capital gains income also means you can claim capital loss as well. If you bought bitcoin and it lost value when you sold it, you can deduct the difference from your other income. You pay a small portion of your gains to the taxman and in exchange, he make your super risky investment risk free. It's a good deal, take it.


Good. f*** this crypto bulls*** mining. It needs to die somehow.
Xbox One dis-Kinected 6/9/14. Let that be a lesson to people. Vote with your wallet.
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User Info: su27Chaos

su27Chaos
4 months ago#59
Viper187666 posted...
Cpt_Communism posted...
WTF people? Pay your taxes. Using it for tax evasion is how you get cryptocurrency banned.
Recognizing it as capital gains income also means you can claim capital loss as well. If you bought bitcoin and it lost value when you sold it, you can deduct the difference from your other income. You pay a small portion of your gains to the taxman and in exchange, he make your super risky investment risk free. It's a good deal, take it.


Good. f*** this crypto bulls*** mining. It needs to die somehow.


It will because the average miner would have to face against the rising difficulty, taxes, electricity bills and the debt they.

It will be bad for miners. Investors and traders got hit hard recently they even posted this.

https://www.reddit.com/r/CryptoCurrency/comments/7qu8t9/18002738255_us_national_suicide_hotline/
I like my beer like I like my violence...
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User Info: sfcalimari

sfcalimari
4 months ago#60
Cpt_Communism posted...
WTF people? Pay your taxes. Using it for tax evasion is how you get cryptocurrency banned.


ATTN Cryptocritters: PLEASE DO TAX EVASION WITH THE CRYPTOCOINS. WE NEED GPUS THAT AREN'T STUPID EXPENSIVE.
i wanna walk out into the night
without it being running away
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