dan_fork

In that case you would not pay. Capitol gains applies only to GAINS you made. Since you actually lost money you can file a LOSS. You have an offset to LOWER your taxes in that case.

That would be a strong argument if America practiced capitalism. It does not. We have an anti-capitalist system that seeks to keep people out of markets and in the salt mine. For example, you might fancy yourself as an…

To clarify, you don't get to pick which taxes you pay. Bitcoin, like anything in the world, that gains in value and provides you with a profit is taxable as capitol gains. It is not "income tax" that you pay because it…

I love it! Wow I wish I had that on my home. You are the man.

I am not a tax lawyer, but I have heard it this way. You need to pay capitol gains if you hold the coins for a year or more. If you spend them right after buying them it can be said you are using bitcoin as a payment…

That is an interesting case. I'm not sure? I would think that you could argue that you have not realized any gain yet. You, me, and the IRS are going to need years to figure all this out. The good news is that capitol…

I pay capitol gains on the appreciation in value that is realized when spending. For example if I payed $10,000 for some bitcoin then a year or so later I used it to buy gold for $20,000 because the value has doubled, I…

In the USA you will owe CAPITOL GAINS tax on the growth in value if you sell your coins. It varies depending on your tax bracket and the state you live in. It could be as high as 20% or as low as 0%. Typically you…

Because it is a bet you are likely to lose? I don't really know anything about his bot, but it is suspicious that it would be for sale. If you could make 1200% per year, would you tell anyone? Why not just keep…

Cool stuff Vlad! Thanks.

Here is some reality for the grown-ups. In the USA capitol gains are an arguably unfair tax that favors the wealthy, not an unfair tax that is too high. You will likely pay twice the tax on the money you worked for as…