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Not only did I LOSE money in crypto, it made me completely BROKE (DTP)

as you guys know, i sold everything at a 50% loss in late ja...
Deranged tinder pumo
  02/13/18
rate me
Consuela
  02/13/18
...
Deranged tinder pumo
  02/13/18
do you think this flame is funny?
The Dong-Buterin Protocol
  02/13/18
he does or he would've stopped it by now. it's quite sad
Consuela
  02/13/18
hey are you the faggot expert who was super bullish on lever...
Deranged tinder pumo
  02/13/18
? I never bought leverj, dipshit
The Dong-Buterin Protocol
  02/13/18
Longmo is worth 7 figures, dipshit
intersectional
  02/13/18
he's the reason i lost 5 figures on leverj: http://www.xo...
Deranged tinder pumo
  02/13/18
you lost 5 figures dick riding some random posters four wor...
.,.,.,..,..,.,..:,,:,..,,.;:,,..,:,.;.:..:.,:,::,.
  02/15/18
he's a depraved faggot who loves cock
libcrusher180
  02/15/18
...
united states poast office (retired)
  02/15/18
how much of this is serious? iím stunned that anyone would a...
.....,,.....,,.....,,.................,,,
  02/13/18
crypto-to-crypto trades are taxable events. so many people h...
Deranged tinder pumo
  02/13/18
(guy who actually made 1 million in crypto and now has a hai...
.,.,,.;;...;;.;;;.;.;.....;;......;;....
  02/13/18
picked a caliber yet?
crewman
  02/13/18
...
lawdads8
  02/13/18
...
bloodacre
  02/13/18
I'm still all in. Will let do and let do for a few years. 10...
lawmen8
  02/13/18
even if you're all in, so long as you made trades in late de...
Deranged tinder pumo
  02/13/18
And the IRS knows this how? Let alone the personnel to en...
Gaping Cunt
  02/13/18
they're going to audit crypto traders heavily this year
Deranged tinder pumo
  02/13/18
https://en.m.wikipedia.org/wiki/Diplomatic_immunity#Taxes_an...
lawmen8
  02/13/18
In the event that this isnít flame, I hope you kill yourself...
'""""'"
  02/13/18
i warned people about this. i don't remember the thread, bu...
,.,.,.,..,.,.,:,,:,..,:::,.,,.,:.,,.:.,:.,:.::,.
  02/13/18
so you're saying i'm done here? no chance to get out of it? ...
Deranged tinder pumo
  02/13/18
I donít actually know the details of his case or yours. He g...
,.,.,.,..,.,.,:,,:,..,:::,.,,.,:.,,.:.,:.,:.::,.
  02/13/18
Your losses in 2018 offset your income by 3k every future ye...
.,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.
  02/13/18
I don't understand. You bought crypto, it appreciated, you s...
.,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.
  02/13/18
just don't pay the tax
bumpin that bone thugs 'til i die
  02/13/18
Lol just realized this is elaborate flame A gain is not r...
.,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.
  02/13/18
it's NOT FLAME yes i sold them, repeatedly, to buy other ...
Deranged tinder pumo
  02/13/18
Well then you need to file, get on an installment plan to pa...
.,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.
  02/13/18
trading one crypto for another is considered a "sale,&q...
,.,.,.,..,.,..,:,,:,,.,:::,.,,.,:.,,.:.,:.,:.::,.
  02/13/18
Trump crashed the crypto market so you could claim the loss
lawmen8
  02/13/18
Tired of winning yet?
,.,.,.,..,.,.,:,,:,..,:::,.,,.,:.,,.:.,:.,:.::,.
  02/15/18
lol, all you gold rush cryptards have no idea what you'll do...
''""'"'"""
  02/13/18
so you sold in dec 31 and made $1mm in crypto and then bough...
imanxoxoposter
  02/13/18
Isnt there a rule that if you lost money, you dont need to p...
LAPD officer on paid administrative leave
  02/13/18
He realized gains in crypto-crypto trades in 2017 and lost a...
.,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.
  02/13/18
i believe losses only offset gains within the same tax year,...
.,.,,.;;...;;.;;;.;.;.....;;......;;....
  02/15/18
He was frequently selling crypto, realizing gains and buying...
.,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.
  02/13/18
that sucks man I'm sorry to hear about that. Fucking that...
Refunkulus
  02/15/18
yeah he's going to be sucking cock at the flying j before lo...
White Power HVAC, LLC.
  02/15/18
But what will he do for money?
HoldUpHoldUpWhat
  02/15/18
any man can go down to the flying j, go to the showers, drop...
White Power HVAC, LLC.
  02/15/18


Poast new message in this thread



Reply Favorite

Date: February 13th, 2018 3:18 PM
Author: Deranged tinder pumo

as you guys know, i sold everything at a 50% loss in late january right before the SEC hearings. i still firmly believe crypto is done here.

now i found out that ALL crypto-to-crypto trades are taxable events, and i was up 200% of my investment on dec. 31 2017.

that means, for this tax season, i need to pay income tax on 200% using just 50% of my investment.

"my investment" was basically all my savings, every dollar and penny i had. this basically wipes me out.

still trying to understand if there's some loophole i can use to get out of this, or i'm totally done.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35394313)



Reply Favorite

Date: February 13th, 2018 3:19 PM
Author: Consuela

rate me

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35394316)



Reply Favorite

Date: February 13th, 2018 5:08 PM
Author: Deranged tinder pumo



(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395443)



Reply Favorite

Date: February 13th, 2018 5:10 PM
Author: The Dong-Buterin Protocol (longmo)

do you think this flame is funny?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395458)



Reply Favorite

Date: February 13th, 2018 5:10 PM
Author: Consuela

he does or he would've stopped it by now. it's quite sad

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395470)



Reply Favorite

Date: February 13th, 2018 5:17 PM
Author: Deranged tinder pumo

hey are you the faggot expert who was super bullish on leverj?

how'd that go for you?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395551)



Reply Favorite

Date: February 13th, 2018 5:33 PM
Author: The Dong-Buterin Protocol (longmo)

? I never bought leverj, dipshit

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395757)



Reply Favorite

Date: February 13th, 2018 8:44 PM
Author: intersectional (AF)

Longmo is worth 7 figures, dipshit

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397216)



Reply Favorite

Date: February 13th, 2018 8:48 PM
Author: Deranged tinder pumo

he's the reason i lost 5 figures on leverj:

http://www.xoxohth.com/thread.php?thread_id=3746019&mc=3&forum_id=7

and now it was just some joke to him? he didn't buy any himself? well fuck that faggot

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397247)



Reply Favorite

Date: February 15th, 2018 11:05 PM
Author: .,.,.,..,..,.,..:,,:,..,,.;:,,..,:,.;.:..:.,:,::,.


you lost 5 figures dick riding some random posters four word shitcoin recommendation in a 3 post thread?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414112)



Reply Favorite

Date: February 15th, 2018 11:08 PM
Author: libcrusher180

he's a depraved faggot who loves cock

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414136)



Reply Favorite

Date: February 15th, 2018 11:39 PM
Author: united states poast office (retired) (0xf759be33a9d65482539279189b32274bb717661b)



(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414444)



Reply Favorite

Date: February 13th, 2018 5:10 PM
Author: .....,,.....,,.....,,.................,,,


how much of this is serious? iím stunned that anyone would admit to losing money in maybe the biggest asset appreciation in human history

you have future hedge fund manager written all over you

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395460)



Reply Favorite

Date: February 13th, 2018 5:15 PM
Author: Deranged tinder pumo

crypto-to-crypto trades are taxable events. so many people here are in denial about this, but it's true. LOTS of people were up big on dec 31 2017, then down big recently.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395523)



Reply Favorite

Date: February 13th, 2018 5:10 PM
Author: .,.,,.;;...;;.;;;.;.;.....;;......;;....


(guy who actually made 1 million in crypto and now has a hair transplant)

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395465)



Reply Favorite

Date: February 13th, 2018 5:10 PM
Author: crewman

picked a caliber yet?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395471)



Reply Favorite

Date: February 13th, 2018 5:12 PM
Author: lawdads8



(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395495)



Reply Favorite

Date: February 13th, 2018 5:18 PM
Author: bloodacre (bloodacre)



(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395564)



Reply Favorite

Date: February 13th, 2018 5:18 PM
Author: lawmen8

I'm still all in. Will let do and let do for a few years. 100% prepared to pepper my angus

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395575)



Reply Favorite

Date: February 13th, 2018 5:19 PM
Author: Deranged tinder pumo

even if you're all in, so long as you made trades in late december, you owe taxes on your gains up to that point. and the subsequent losses in early 2018 don't save you from that. that's what's killing me here.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395592)



Reply Favorite

Date: February 13th, 2018 7:09 PM
Author: Gaping Cunt

And the IRS knows this how?

Let alone the personnel to enforce at scale?

Iíll be here waiting for your response

Thank

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35396544)



Reply Favorite

Date: February 13th, 2018 8:26 PM
Author: Deranged tinder pumo

they're going to audit crypto traders heavily this year

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397060)



Reply Favorite

Date: February 13th, 2018 9:03 PM
Author: lawmen8

https://en.m.wikipedia.org/wiki/Diplomatic_immunity#Taxes_and_fees

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397371)



Reply Favorite

Date: February 13th, 2018 5:24 PM
Author: '""""'"


In the event that this isnít flame, I hope you kill yourself.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35395655)



Reply Favorite

Date: February 13th, 2018 8:28 PM
Author: ,.,.,.,..,.,.,:,,:,..,:::,.,,.,:.,,.:.,:.,:.::,.


i warned people about this. i don't remember the thread, but i know a guy who basically did the same thing using stock options and got fucked hard by the irs.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397071)



Reply Favorite

Date: February 13th, 2018 8:36 PM
Author: Deranged tinder pumo

so you're saying i'm done here? no chance to get out of it?

supposing i don't get into crypto again (i don't believe in it, and besides i have no more money), then the losses i suffered in 2018 aren't going to be used to offset anything? will i be able to get anything back from the government after getting royally screwed this way?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397146)



Reply Favorite

Date: February 13th, 2018 9:07 PM
Author: ,.,.,.,..,.,.,:,,:,..,:::,.,,.,:.,,.:.,:.,:.::,.


I donít actually know the details of his case or yours. He got fucked, though.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397409)



Reply Favorite

Date: February 13th, 2018 9:21 PM
Author: .,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.


Your losses in 2018 offset your income by 3k every future year and capital gains by $5k

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397506)



Reply Favorite

Date: February 13th, 2018 8:56 PM
Author: .,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.


I don't understand. You bought crypto, it appreciated, you sold it, made $1M, then bought more crypto?

I thought capital gains taxes only apply to realized gains, so if you didn't sell it you didn't actually make any money.

NOT A LAWYER

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397326)



Reply Favorite

Date: February 13th, 2018 8:58 PM
Author: bumpin that bone thugs 'til i die (askav)

just don't pay the tax

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397335)



Reply Favorite

Date: February 13th, 2018 9:01 PM
Author: .,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.


Lol just realized this is elaborate flame

A gain is not realized until the security that has appreciated is sold. For example, say you buy some stock in a company and your investment grows steadily at 15% for one year. At the end of the year, you decide to sell your shares. Although your investment has increased since the day you bought the shares, you will not realize any gains until you have sold them. As a general rule, you don't pay any tax until you've realized a gain. After all, you need to receive the cash made from selling at least part of your investment in order to pay any tax.

Read more: Capital Gains Tax 101 | Investopedia https://www.investopedia.com/taxes/capital-gains-tax-101/#ixzz572mdirIS

Follow us: Investopedia on Facebook

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397358)



Reply Favorite

Date: February 13th, 2018 9:03 PM
Author: Deranged tinder pumo

it's NOT FLAME

yes i sold them, repeatedly, to buy other crypto. no i did not cash out. but crypto-to-crypto trade is considered "selling" and any gains you made at the time of transfer is considered a taxable event.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397378)



Reply Favorite

Date: February 13th, 2018 9:13 PM
Author: .,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.


Well then you need to file, get on an installment plan to pay your capital gains taxes, then carry your capital losses forward at $3k per year for the rest of your life.

Or don't

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397461)



Reply Favorite

Date: February 13th, 2018 9:05 PM
Author: ,.,.,.,..,.,..,:,,:,,.,:::,.,,.,:.,,.:.,:.,:.::,.


trading one crypto for another is considered a "sale," so just using shapeshift is a taxable event if you had an unrealized gain on the coins you exchanged

https://btcmanager.com/irs-cryptocurrency-property-swaps-taxable/

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397399)



Reply Favorite

Date: February 13th, 2018 9:07 PM
Author: lawmen8

Trump crashed the crypto market so you could claim the loss

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397414)



Reply Favorite

Date: February 15th, 2018 11:18 PM
Author: ,.,.,.,..,.,.,:,,:,..,:::,.,,.,:.,,.:.,:.,:.::,.


Tired of winning yet?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414239)



Reply Favorite

Date: February 13th, 2018 9:14 PM
Author: ''""'"'"""


lol, all you gold rush cryptards have no idea what you'll do about taxes as you assume you just became millionaires in a few months off <$50K investments.

the groupthink and willful ignorance here is amazing although I will say the crypto mania isn't exactly limited to XO. still, LOL, this place prides itself on being 'smarter' than the rest of the internet.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397464)



Reply Favorite

Date: February 13th, 2018 9:17 PM
Author: imanxoxoposter

so you sold in dec 31 and made $1mm in crypto and then bought $1mm in crypto and lost 50% so ur at $500k and now you need to pay 50% in taxes for some reason, so everything is gone.

k makes sense.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397487)



Reply Favorite

Date: February 13th, 2018 9:21 PM
Author: LAPD officer on paid administrative leave (, using taxpayer $$$ to invest in Bitcoin)

Isnt there a rule that if you lost money, you dont need to pay taxes or youre obligated to pay a reduced amount?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397508)



Reply Favorite

Date: February 13th, 2018 9:22 PM
Author: .,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.


He realized gains in crypto-crypto trades in 2017 and lost all his money in 2018.

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397514)



Reply Favorite

Date: February 15th, 2018 11:12 PM
Author: .,.,,.;;...;;.;;;.;.;.....;;......;;....


i believe losses only offset gains within the same tax year, and you can carryforward net capital losses with certain limits

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414172)



Reply Favorite

Date: February 13th, 2018 9:22 PM
Author: .,.,;,.,..,.,.,:,,:,..,:::,...,:,.,.:...:.,:.::,.


He was frequently selling crypto, realizing gains and buying other crypto

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35397509)



Reply Favorite

Date: February 15th, 2018 11:24 PM
Author: Refunkulus (never count out a MUSCLE NUT)

that sucks man I'm sorry to hear about that.

Fucking that crypto is some dangerous shit

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414281)



Reply Favorite

Date: February 15th, 2018 11:31 PM
Author: White Power HVAC, LLC.

yeah he's going to be sucking cock at the flying j before long

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414364)



Reply Favorite

Date: February 15th, 2018 11:38 PM
Author: HoldUpHoldUpWhat

But what will he do for money?

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414438)



Reply Favorite

Date: February 15th, 2018 11:40 PM
Author: White Power HVAC, LLC.

any man can go down to the flying j, go to the showers, drop to his knees and start earning $$$ right now. no excuses

(http://www.autoadmit.com/thread.php?thread_id=3892072&forum_id=2#35414455)