Anyone else holding out to 1 year AT LEAST, in order to get long term cap gains tax rate? 🙏🏻 every day passing is a day closer

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No way I’m holding out just for tax. Way too scary. Once I hit my (very big) number I’m cashing out 80% with no regrets

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I’ll always err on the side of not tax evading bc that scares me

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Yeah but it feels so long away

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Might be a dumb question but if you have funds in binance is there any forcing function requiring you to claim gains on your taxes? Trying to avoid Uncle Sam if possible.

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Agreed, taxes are a pain but needs to be done. Just stay in another month or two and make another xx% to account for taxes after you meet your number... At least that's my plan

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There is no way to track this shit

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Me too. All the money you made taken away and worse

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I think we will see a could huge dips along the way and some coins will fade out but at the end of next year we will still have great returns.

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Well if 2 years down the line bittrex hands over my trades to the irs I’d be in for brutal ass rape in the form of penalties and interest. Maybe even jail time lol. Would rather just pay and sleep easier. Plus your bank will definitely snitch on you if you deposit a bunch of cash out nowhere

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They tacked Ross Ulbricht soooo

Or tack what you should pay in taxes accurately?

Just go to Africa and sell crypto for more $ and then buy property

Yes, holding out here for at least 1 year. Not a day trader, I try to do research on longer holds and pick up only coins that I think have a chance of surviving the ICO bloodbath.

Cointracking.info for tracking realized and unrealized gains for tax reporting purposes until then.

ROTH IRA - look into it if you're concerned about taxea and your in for it long-term

I love how people think this can't be audited by the IRS. Nearly all currencies are built on an immutable open ledger. Once your identity is tied to your exchange public key literally every transaction you've made can be traced and audited.

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