http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution
Don't cut off the head of the messenger please!
My $.02.
Topic: I didn't pay capital gains tax on bitcoin sales to IRS today - page 8. (Read 24100 times)
The Sixteenth Amendment:
http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution
Don't cut off the head of the messenger please!
My $.02.
http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution
Don't cut off the head of the messenger please!
My $.02.
OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?
You are correct. Mining causes a taxable event (as income) each time you mine new coins, based on the FMV of the coin at the time you mine it. Holding bitcoin isn't taxable (same as holding stocks), but mining or spending/selling/trading the bitcoin is.
Of course, no one - including the IRS - can show ANY evidence that these rules apply to anyone.
That's true, but always that random audit.
..
OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?
You are correct. Mining causes a taxable event (as income) each time you mine new coins, based on the FMV of the coin at the time you mine it. Holding bitcoin isn't taxable (same as holding stocks), but mining or spending/selling/trading the bitcoin is.
Of course, no one - including the IRS - can show ANY evidence that these rules apply to anyone.
OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?
You are correct. Mining causes a taxable event (as income) each time you mine new coins, based on the FMV of the coin at the time you mine it. Holding bitcoin isn't taxable (same as holding stocks), but mining or spending/selling/trading the bitcoin is.
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
you're a moron
Any moron can call anyone a moron. And when anyone resorts to name calling you can be assured they have no facts to stand on.
...So I would take your assessment as a compliment.
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
you're a moron
Thank you for your accurate post!
+1
My $.02.
Would that "accurate post" be because if people start ignoring the scam that is the IRS they wouldn't need your services any longer?
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
you're a moron
Thank you for your accurate post!
+1
My $.02.
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
you're a moron
OP needs to learn, holding bitcoin is tax rate of ZERO. but holding fiat in his personal account after selling the bitcoin. he needs to pay tax on that fiat gain.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
but i do agree people are silly when it comes to saying "bitcoin is doomed" and here is why
1. people will find other ways to not need FIAT, thus not needing to claim FIAT gains
2. the IRS wont care about useless / worthless items. IRS have categorized bitcoin, thus it has proven bitcoin to be a valid store of wealth.
I thought tax was based on mining, transaction, and capital gains of fair market price? So it doesnt matter? Or am I incorrect?
Show me one single benefit you or any other American receives as a consequence of the income tax!
For one, the NSA provides the most excellent online backup service ever created! No configuration is required by the end-user, every piece of data the end-user passes over the Internet is beam-split from the fiber feeds into each Internet exchange and telco hotel, analyzed by the best hardware and software money can buy from Narus, then backed up automatically in the largest storage cluster of hard drives ever amassed in one location on earth in their superb and highly secure Utah Data Center (http://en.wikipedia.org/wiki/Utah_Data_Center). Best of all, the service is offered free of charge, to every person in the world, not just US citizens. And when it comes time to retrieve your data after a hard drive crash, just a few short clicks and.. Umm.. Hmm..
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
And the guy doesn't know the difference between "pour" and "pore".
My $.02.
...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems?
If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.
Only small minds would discount the message because of spelling or grammar errors.
Oh, may I disagree?
Spelling and grammar errors impede the ability to communicate and I have always believed that those who find themselves unable to communicate effectively should STFU.
At any rate, the thread continues.................................
My $.02.
There's a reason they don't write chapters in history books or make movies about 'great' editors & spellers.
Editors & spell checkers come a dime a dozen.
True and they contribute to the overall dumbing down of the society as a whole.
Donte have to rite gud if them softywears tak kare of thing for you.
My $.02.
P.S.
Behind every successful writer there is at least one editor and you're correct, one doesn't hear about them but they are indeed there.
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
And the guy doesn't know the difference between "pour" and "pore".
My $.02.
...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems?
If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.
Only small minds would discount the message because of spelling or grammar errors.
Oh, may I disagree?
Spelling and grammar errors impede the ability to communicate and I have always believed that those who find themselves unable to communicate effectively should STFU.
At any rate, the thread continues.................................
My $.02.
There's a reason they don't write chapters in history books or make movies about 'great' editors & spellers.
Editors & spell checkers come a dime a dozen.
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
And the guy doesn't know the difference between "pour" and "pore".
My $.02.
...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems?
If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.
Only small minds would discount the message because of spelling or grammar errors.
Oh, may I disagree?
Spelling and grammar errors impede the ability to communicate and I have always believed that those who find themselves unable to communicate effectively should STFU.
At any rate, the thread continues.................................
My $.02.
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
And the guy doesn't know the difference between "pour" and "pore".
My $.02.
...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems?
If a grammatical error is what it takes to keep bumping this thread to the top, then I'm all for it.
Only small minds would discount the message because of spelling or grammar errors.
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
Let them show "conclusive evidence". Let them try to ban Bitcoin. Let them vilify it. Let them marginalize its users. Let them fight it all they want.
And just as banning books makes them coveted, banning Bitcoin will only make Bitcoin stronger.
Anyone with half a brain can see the clear advantage of crypto currencies. And realize they can't ban it anymore then they can ban email or bittorrent.
There is no appeasing that system.
There's no trying to abide by their rules. Bitcoin & the current system of fiat simply cannot co-exist.
The more Bitcoin users who openly speak up, the more of the lemmings will begin to realize they too don't have to bow to their masters any longer.
The more people speak up & opening challenge the corrupt & evil system, the better.
There is a way out. Nobody has to bow to that system any longer. The more who stand up & shout what everyone is thinking anyway, but too spineless to say it, the better.
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
And the guy doesn't know the difference between "pour" and "pore".
My $.02.
...pour over the blockchain
If the blockchain gets wet, does that possibly cause serious problems?
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
And the guy doesn't know the difference between "pour" and "pore".
My $.02.
...I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
When CNN or a "seriously uptight" member of Congress wants to show "conclusive evidence" that BTC is being used to avoid paying taxes, you have given them a clear starting point. Nice work.
Internet Relay Chat is not a company and it doesn't have employees.
The last couple months there have been a lot of posts concerning the IRS ruling that bitcoins are to be treated as property and that it was required to pay a capital gains tax on the sale of bitcoins. Some people even posted that "bitcoin is doomed" because of the ruling.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
To prove just how silly it is for people to worry about this, I created this thread to call out the IRS to prove what I owe in capital gains due to bitcoin sales.
So if there are any IRS employees trolling this thread, you're welcome to pour over the blockchain and tell me what I owe you.
Haha,
So funny
I am not a IRC employee
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