Author Topic: hows taxes work?  (Read 27 times)

Offline Belly

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hows taxes work?
« on: January 04, 2018, 06:54:59 AM »
hows taxes work? have you done them yet?



Offline Vicky

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Re: hows taxes work?
« Reply #1 on: January 04, 2018, 06:55:46 AM »
no, but i did hear the IRS is making coinbase and GDAX submit taxes and information. so perhaps soon they will require it.

Offline Belly

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Re: hows taxes work?
« Reply #2 on: January 04, 2018, 06:56:35 AM »
no, but i did hear the IRS is making coinbase and GDAX submit taxes and information. so perhaps soon they will require it.

hmm okay btw Just did my first 5 trades over 20ish minutes and made a little over 1% ($1.12 on $106 hahaha). Last sell missed out on a $200 skyrocket, but I was still profitable. This is pretty cool.

Offline Vicky

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Re: hows taxes work?
« Reply #3 on: January 04, 2018, 06:57:00 AM »
no, but i did hear the IRS is making coinbase and GDAX submit taxes and information. so perhaps soon they will require it.

hmm okay btw Just did my first 5 trades over 20ish minutes and made a little over 1% ($1.12 on $106 hahaha). Last sell missed out on a $200 skyrocket, but I was still profitable. This is pretty cool.

cool. every little bit counts, plus its good practice before you invest more. dont be ashamed by only making 1.12. you made money and if you had more bitcoin you would have made even more. keep it up.

Offline nil

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Re: hows taxes work?
« Reply #4 on: January 05, 2018, 12:43:39 PM »
Don't exactly how taxes work over virtual currencies, but have read somewhere the profit will be termed as capital gain and so the taxes will be according to it. However, it is not to forget different countries have different tax system. So things are still not very clear now.