Uh, are mtm filers who are making large coin in BTC and other cryptos, obligated to report those paper gains and pay huge tax on them?
If you're one of them , have you considered this
If you're one of them , have you considered this
Mark to market traders and Bitcoin
- Thread starter SoesWasBetter
- Start date
107 mark to market traders read this , said oh shit, and didnt have time to post.,
Well, in the USA at least, most forms of income must be reported, including stuff like tips and money you find on the street. And I am SURE we all report THAT!
In seriousness, I don't recall the IRS stance on crypto. But I bet their hackles were raised last month when this all exploded into the public consciousness.
In seriousness, I don't recall the IRS stance on crypto. But I bet their hackles were raised last month when this all exploded into the public consciousness.
Im talking about MTM traders that HAVE to mark to eoy position.
So if you're sitting on a 100k gain in your crypto are you ready to pay 40k tax on it?
If you don't and they catch you , they lock you up, and bubbah is your new husband
So if you're sitting on a 100k gain in your crypto are you ready to pay 40k tax on it?
If you don't and they catch you , they lock you up, and bubbah is your new husband