Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
How do you deal with capital gains? Ignore it?
I would have some... but I lost most of my private keys in an unfortunate boat accident.
Also, not everyone lives in the US.
Some have special retirement accounts protected from taxation.
Other can deduce borrowed money when it's paid back.
I might have earn them with my business which accept Bitcoin and paid income tax then.
Really, taxation is a complicated game.
And as usual, those with the less money are those who will pay more.
I'm not living in the US either, but about 97% of my BTC value is pure profit. If I sold out now I would have to pay ~30% in capital gains. That would require one hell of a trade to just break even (ok, maybe no biggie if I had balls like you). I could technically ignore reporting it, it's kind of a gray area, but I donno, the tax man would probably eat me alive if I did that. Some have special retirement accounts protected from taxation.
Other can deduce borrowed money when it's paid back.
I might have earn them with my business which accept Bitcoin and paid income tax then.
Really, taxation is a complicated game.
And as usual, those with the less money are those who will pay more.
Oh well, guess I'm stuck holding, for the longest time.
