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Showing 20 of 43 results by NatureMoves
I saw a YouTube video by ClearValue Tax and he said that Coinbase will send EVERYONE a 1099 misc even those who sold their crypto. I thought this was only sent to those who earned rewards for staking? Did Coinbase change some things for 2024?
This is the video I saw by the way:
https://www.youtube.com/watch?v=LxvO9vAFdM0
This is the video I saw by the way:
https://www.youtube.com/watch?v=LxvO9vAFdM0
If bitcoin goes to $120k and I sell 2 whole bitcoins ($240k), how much tax will the government charge me if I live in Florida and only earn $50k a year? 
I don't live in the USA. and I can not answer this but you can find information from guide of IRS.https://www.irs.gov/pub/irs-pdf/p17.pdf
I read in the forum that in the USA. you will be taxed like 30% or 40% from your profit of selling. Someone from this country can help you with more accurate information.
Does this Federal Income Tax have anything to do with "Selling Bitcoin for real estate"?
This is bad idea because real estates can be constructed with time but Bitcoin will have only 21 million bitcoins in total supply, no more. If you buy a real estate, hold it like 10 or 20 years, it will give you less ROI than holding your bitcoins 10 or 20 more years.
Planning to sell some of my bitcoin because I'm afraid of future regulations by the government.
But ofcourse, I'm not planning to sell all of them. Just want to diversify. If bitcoin goes to $120k and I sell 2 whole bitcoins ($240k), how much tax will the government charge me if I live in Florida and only earn $50k a year?
forget about the IF question and face the reality. How many Bitcoin do you have in your wallet as we speak? Sometimes I guess it's necessary we try to talk about realities here rather than creating unreal stories that isn't what's our current state so we don't analyse situation that's not useful to you as it's possible you're not living in Florida or ever planning to do so.2 Bitcoin is worth $140k and for an average person, it's deficult to assume that you have access to such amount of Bitcoin in your wallet. If you had, you would probably not be asking this kind of question in the first place as it's most likely that you've probably stayed in the bitcoin ecosystem long enough to have known some basics and areas where the government justification gets to as long as it concerns Bitcoin. Maybe this thread can be of help if you can walk through the thread and the comments section. https://bitcointalk.org/index.php?topic=5480307.msg63436721#msg63436721
According to the articles, only if someone sends you $10k or more worth of bitcoin should you report to IRS within 15 days. Nobody is sending me any bitcoin nor am I sending anyone bitcoin. I'm just simply cashing out.
For the tax system, I think it will be best if you contact the appropriate body to help you calculate that in order to be on the right track.
But for the aspect of selling your bitcoin to invest in real estate, if the price eventually reaches $120,000, that is your own choice to make, and if you have up to that amount of bitcoin, you can't hold them forever.
But for the aspect of selling your bitcoin to invest in real estate, if the price eventually reaches $120,000, that is your own choice to make, and if you have up to that amount of bitcoin, you can't hold them forever.
Why not hold them forever? Too risky? I'm a bit hesitant also, because what if it goes up to a million in 10 years?
You need expert help to help you in planning to file your taxes. If you want to do it yourself:
We do not have enough information to help you and you would want to do everything properly to avoid any errors.
- Jay -
- Know the income tax percentage and laws around bitcoin
- Document what price you bought bitcoin at and how you made the purchase
- Know your tax bracket
- Calculate how much tax you are to pay
We do not have enough information to help you and you would want to do everything properly to avoid any errors.
- Jay -
What do you think of Koinly to do my crypto taxes? Any experience with it?
It says I will be charged almost 30k!! and I bought the bitcoin more than a year ago ....I used the bitcoin tax calculator to get a rough estimate: https://ibb.co/0M9mqRv
and I bought the bitcoin more than a year ago ....I used the bitcoin tax calculator to get a rough estimate: https://ibb.co/0M9mqRv⭐ Merited by Ratimov (1)
First I want to say that I have some Bitcoin and I want to see it go to the moon. But I have some questions regarding to the reasons that people give as to why Bitcoin is a good investment. 
Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.
Reason 2: Nobody can take away your bitcoin whereas the bank can confiscate your cash and lock your account - should I worry about my bank doing this if I am not doing anything that is illegal?
Reason 3: You can send it to anyone in the world - why would people want Bitcoin when you cannot use it to purchase in many stores? Plus ii takes too long for 1 transaction to go through.
Please correct me if I am misinformed.
Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.
Reason 2: Nobody can take away your bitcoin whereas the bank can confiscate your cash and lock your account - should I worry about my bank doing this if I am not doing anything that is illegal?
Reason 3: You can send it to anyone in the world - why would people want Bitcoin when you cannot use it to purchase in many stores? Plus ii takes too long for 1 transaction to go through.
Please correct me if I am misinformed.
If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just go Ethereum this year.
You are so right that ETH will finally take over. To be honest, I feel guilty everytime I buy Bitcoin because it has way more energy use than all the other cryptos. If we can use greener cryptos, that is what will be supported long-term.
ETH 2.0 might flip BTC this summer
25K TPS is faster than visa, it puts ETH in a whole new league, plus they burning off tokens
ETH moves the defi and NFT markets too
BTC has vast wall street support now but ETH could flip dominance
Unless BTC moves to green energy and larger blocks and moves TPS to compete, ETH will take over
The 3.0 horse is here, it's fracti get $3000 fracti for FREE and buy a famous artists NFT Art token then dump it on opensea into ETH
Then buy what you want, BTC, fiat or HODL ETH
Oh, it's easy to make $500 day in fracti, they pay $10 a login for up to 24 logins a day plus $10 reading articles, watching videos and clicking links
It's a stable coin built on user use of network, it has a bunch of stuff to buy in their store
Plus it now has a NFT Art Token exit to opensea and rarible
As soon as you use your fracti to buy the token it shows up in a metamask wallet that shows on both rarible and opensea
Absolute highway they built to cash out NFT tokens you get for FREE worth big money
The artist has the busiest art site in the world, he's a big deal
Busier than almost every museum site and all the big names like Koons, Hirst and Warhol
https://fracti.org
25K TPS is faster than visa, it puts ETH in a whole new league, plus they burning off tokens
ETH moves the defi and NFT markets too
BTC has vast wall street support now but ETH could flip dominance
Unless BTC moves to green energy and larger blocks and moves TPS to compete, ETH will take over
The 3.0 horse is here, it's fracti get $3000 fracti for FREE and buy a famous artists NFT Art token then dump it on opensea into ETH
Then buy what you want, BTC, fiat or HODL ETH
Oh, it's easy to make $500 day in fracti, they pay $10 a login for up to 24 logins a day plus $10 reading articles, watching videos and clicking links
It's a stable coin built on user use of network, it has a bunch of stuff to buy in their store
Plus it now has a NFT Art Token exit to opensea and rarible
As soon as you use your fracti to buy the token it shows up in a metamask wallet that shows on both rarible and opensea
Absolute highway they built to cash out NFT tokens you get for FREE worth big money
The artist has the busiest art site in the world, he's a big deal
Busier than almost every museum site and all the big names like Koons, Hirst and Warhol
https://fracti.org
If I have 5 bitcoins and I acquired them using dollar cost averaging for the past 5 years, and I decide to sell them, how will I show the IRS which ones should be charged long term capital gains tax and short term capital gains tax? Is there a crypto tax software out there you guys recommend that will be able to distinguish between the two? I live in the US by the way.
If government bans Bitcoin, people can still use peer to peer network for Bitcoin activities. But doesn't p2p require a software? Can the website that offer that software be taken down by government? So the government can still indirectly control bitcoin?
Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they?
No government can stop me from buying, selling, sending or receiving crypto. The worst they can do is to make it illegal.
I guess, just like nobody can stop you from creating a business selling cocaine, can that be called decentralized? 👀😀
Ok so there are people who say that crypto cannot be controlled by the government. How can this be true when the government can shut down the companies where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto cannot be controlled by the government or can they?
If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?
Nope I'm not thinking that the people would have any determining factor to create or give value because is going to be centralised just like fiat as it will be controlled by government. The manipulation will go on and control can't stop, us going to check people freedom. It can only serve as stable coin on one hand.
When you say control, you mean the government has the power to devalue crypto by making it infinite? Isn't that also possible for other cryptos made by companies?
If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?