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The IRS Is Coming For Your Crypto And This Is How You Can Protect Yourself!

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My friend will be going to jail Comment from : @y2k4ed

You have 6 years to file until the IRS says wtf hoe?! We are taking the dog also! Personally 3 years is good Hodl for 3 The market is so volatile anyways You'll make better profit with this strategy in the long run, pay less and less of a headache AS LONGas you keep track of everything Not hard to snap shot your trades with your phone Bing bang boom done Comment from : @roksojah1163

Come on man ( my brain already hurt enough and now tax men are coming ) come on man Comment from : @qinshi6278

If I only invest in BTC via robinhood but never sold it or did any other transaction, do I still have to answer yes to that qs? Comment from : @SS-ci2fn

"it's just a good idea to report your crypto assets " Dude - Shut up Comment from : @johnnyutah4584

Here Is one for you What If you Lost over 100k in bitcoin via a casino using a vpn because you're not supposed to gamble on those sites in the US and the only info the casino gets from you is your email address pretty much Can I write that off too? Comment from : @xanderbanks4278

Only way to make money is by bouncing around if your a small time investor God forbid you make profit of 100k and move on to another project and lose all Give uncle Sam 37k you don't have Comment from : @lancebrown8823

Fuck taxes case dismissed Comment from : @xinfinity7315

To clear it up I think he meant 15 for long term capital gain and 22 for short term These numbers will very based on your regular income bracket but for most of us, this is what you will pay Comment from : @doityourself2save

So would someone need to report and pay taxes on gains and losses of only $200? brOr does the irs only care if you exceed like an area of $1000 profit ? Comment from : @whiteprivilege2665

This video is great for the average crypto investor Like a buddy explaining it, some other videos are just over the top Very straightforward Thanks! Comment from : @kclive7580

Didn't take long for the banks to start the steal Unbelievable, this is not what crypto was meant to be, now this game will be rigged just like the stock market Comment from : @rudevol8355

so the fees i paid for the buy and sell of bitcoin what do i get to do with all those? Can i write them fees off as a loss? Cause that really puts any profit under what i had bought it for So a $100 buy of bitcoin on coinbase cost me 7-8 bucks on fees and to ship it to an address it costs around 3 bucks so can I write off that 10 dollar loss for every $100 i have bought and sent? Comment from : @beastmodemaniac7530

So when i clicked yes to let the IRS know my situation with cryptocurrency, I never sold any coins, only BUY So, do i report my BUYS for that year? Comment from : @justtryingtolearnsomething111

they need more decentralized exchanges this KYC crap is annoying Comment from : @MaskedMageYT

These Fkrs want everything Comment from : @Ivan-fs9nz

What if I trade bitcoin in international waters? Will those thieves on Capitol Hill still try to take my wealth? Comment from : @ledzeppelin1212

How bout an aave IRA? Comment from : @ixxgxx

This is helpful Is there a way to determine your crypto currency cost basis if you've forgotten on what exchange you purchased it? Comment from : @werquantum

What if there’s capital loss? Comment from : @Gigi0606

Nice video If I buy crypto and only send to another person, How do I report taxes? Comment from : @ochicoloto3524

Slavery still exist Comment from : @dfilion3

What about Uniswap? I don't see how you can even accurately track the taxable amounts on your transactions on Uniswap as there is no way to download trades Also, on Etherscan it gives ETH in today's USD value, not the value at the time of the transaction, which you would need for tax purposes Any ideas? Cheers Comment from : @seancullen99

Thank you I bought my first crypto this year With this information, I will consider the long term capital gain tax vs The short term Much appreciated Comment from : @bbfreetube

I hold Theta and am in the US, it was stupid to do but need to deal with consequences now Any idea? Comment from : @jvo3777

i wonder if some day people will fight back against tax Comment from : @CorporalPoon

Thank you Good information, New sub Comment from : @taral6414

excellent explanation on crypto taxes ! Comment from : @theworldestinations

If I’m negative in bitcoin do I have to file Comment from : @stoyaclegend9026

this bs crypto tax is the same as if you got taxed on every time you hit the spin button on a slot machine like what a damn joke Comment from : @YOUNG3VITY

But you only pay tax when you cash out to fiat not when you are still on crypto? Comment from : @IYKESMILES_TV

This is why it is better to use tools that help "clear" traces of your transactions to you, at least for now that regulations aren't clear For now, I'll continue to use my Bitcoinmix haha :) Comment from : @0540884328

Do you know of any minimum short term taxes on crypto? Like if you’ve made trades or sold but barely make any money per year in income? I’m a student who has only put a bit into it, traded one coin for another within the same year, but barely made any income otherwise Would I still be penalized for these potential gains because I was not aware of filing records of those transactions, or only if I took larger gains a few years down the line? Thanks, sorry for the more specific question I’m just worried now that I could get in trouble and I’m not very well informed with crypto taxes Comment from : @Sonnyjune69

It’s ridiculous how confusing it is being stolen from Comment from : @jacobwelsh9913

Educated guesses please: Do we think IRS is going to go all the way back to the origins of Crypto to track transactions or perhaps just starting with 2019? 2020?Maybe 2018? Comment from : @mwolfod

This is crazy I was about to go back and re-watch the previous tax video you did, and you put this one out Wow With tax time coming up I want to educate myself as much as possible now, with having to scramble last minute I appreciate the timing! Great work yet again! Comment from : @AJoaquin305

No institution will steal from me even if it comes to physical confrontation, it is not theirs to take and if they try, I have done nothing wrong and therefore being aggressed upon Same goes for them and you, we can not steal from each other NO MATTER WHAT reason We can’t steal from the irs nor can they to us Comment from : @jacobwelsh9913

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