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Showing 6 of 6 results by happybanana
I am browsing threads and noticed that many people use that site. Can people in the United States use faucet sites where you claim free btc each hour, where you can even win a "grand prize"? Technically, isn't that a form of gambling? Thoughts?
Re: Living in USA and taxes. A simple and specific question.
Thanks. 
I wonder though, if I were to receive payment from a website or person later, if all I have is their bitcoin address they sent from, how would I identify them for tax reasons? I wonder if it's something like "I received .005 btc from 1x0ff0f00988098 as payment for me doing XYZ service for them". Will be interesting just how detailed we need to be on the sending/receiving of btc. I would like to participate in the sites that pay you to read emails, view ads, etc. Some of which might not have much contact info. Hmm.
I wonder though, if I were to receive payment from a website or person later, if all I have is their bitcoin address they sent from, how would I identify them for tax reasons? I wonder if it's something like "I received .005 btc from 1x0ff0f00988098 as payment for me doing XYZ service for them". Will be interesting just how detailed we need to be on the sending/receiving of btc. I would like to participate in the sites that pay you to read emails, view ads, etc. Some of which might not have much contact info. Hmm.I was new to bitcoin in 2017. In late November 2017, I opened a Coinbase account and deposited about $150 worth using a bitcoin ATM. After the ATM fee, I ended up with $130 worth of btc in Coinbase. I never have withdrawn any btc and I have not deposited/received more. I did however send $25 worth to a friend using "send" in Coinbase. That is all.
I want everything to be legal and legit. Do I report this on taxes, even though I didn't cash out? Technically, my btc did go up in value by about $50 between November and December 31st (although it's down since).
Or do you only report when you withdraw/cashout? Do I have to report money that I send to some address too?
P.S. Don't laugh, I know it's only a small amount compared to you big shots out there, but I am so careful with my legal records that I fret over mere dollars, lol.
I want everything to be legal and legit. Do I report this on taxes, even though I didn't cash out? Technically, my btc did go up in value by about $50 between November and December 31st (although it's down since).
Or do you only report when you withdraw/cashout? Do I have to report money that I send to some address too?
P.S. Don't laugh, I know it's only a small amount compared to you big shots out there, but I am so careful with my legal records that I fret over mere dollars, lol.
Re: Is it possible to use/buy/sell bitcoin without photo ID, bank, or phone number?
I mean you could but IF you live in the USA I would suggest doing none of those things. For one thing it seems like your questions are geared towards a tax evasive setup and if that is the case the IRS is gonna be up your
ass you wait (but I bet you know this). Also secondly once you get your BTC and profit say you dont think the IRS is going to wonder where all this money came from? Pay your taxes man it will be a lot easier than this headache
and constant worry imho. Choice is yours though.
ass you wait (but I bet you know this). Also secondly once you get your BTC and profit say you dont think the IRS is going to wonder where all this money came from? Pay your taxes man it will be a lot easier than this headache
and constant worry imho. Choice is yours though.
I don't understand why you felt it necessary to conjure up that fantasy. If you must know, I had my identity stolen once and do not care to upload photo IDs to every stranger on the internet. Sorry if that offends you, but some of us old farts are pretty skeptical.
For someone in the USA, is it possible to have:
1) A desktop or online based wallet if you don't have a photo ID.
2) Ability to buy btc without needing to provide ID.
That is scary to someone who has had identity stolen before.
Thanks - please be kind. I am new and still learning. I have not yet bought BTC.
1) A desktop or online based wallet if you don't have a photo ID.
2) Ability to buy btc without needing to provide ID.
That is scary to someone who has had identity stolen before.
Thanks - please be kind. I am new and still learning. I have not yet bought BTC.