2019 IRS Tax forms asks if you earned or own cryptocurrencysteemCreated with Sketch.

in #taxes5 years ago (edited)
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I'm no tax lawyer, but I'd argue Steem Power is a crypto asset, rather than a crypto currency.

Steem Power can be interpreted both ways as technically steem power is vests and vests are not tradable or sellable. In fact, they are not a token at all. Steem power doesn’t exist, it is just a human readable symbol for vests.

If its not liquid, how can it be a currency? I've yet to hear any advice/guidance on crypto-assets.

I don't accept taxes. I haven't even filed in 20 years regardless of who owed who.

Maybe he doesn't have a permanent address. Being constantly on the move and going from state to state might explain it.

I do live in a school bus but I have several mailing addresses.

Even if they do I won't pay them. I don't accept their contract. It's illegal IMO.

If you don't earn above a certain threshold you don't have to file.

They can't content themselves to stealing Federal Reserve Notes alone. Bastards.

Does it matter?

People exchange their crypto into those federal reserve notes anyways.

This doesn't ask that, though, even if that mattered.

I'm saying, they aren't stealing crypto.

They want your notes equivalent of crypto. Minus a few states that actually accept crypto directly for tax purposes.

Bittrex now prompts US customers for their SSN, and has a Jan 14th compliance date.

If you never agree to follow their rules they have no more authority to tell you what to do than i do.
You and me can't vote ourselves power over others, legitimately.
Ask them to prove that you voluntarily, knowing full well the ramifications, agreed to follow their rules.
(A prerequisite to a valid contract.)

And then there is this:
https://www.thelawthatneverwas.com/

Of the 90 or so people I've asked that question to so far this year, 2 have said yes.

Interesting times.

P.S. Keep your crypto corporate

is it too late or should I move everything under my company moving forward? I tease it out on taxes but I verified on bittrex as a human not a company....


Posted via Steemleo | A Decentralized Community for Investors

The key would be getting corporate accounts on exchanges if you are going to use them.

Virtual Currency? Like the tokens they use for camgirls? Cuz my crypto ain't virtual. :P

Even if a taxpayer bought and didn't sell, the box is still required to be checked YES!

Technically if a taxpayer made no direct intentional transactions but involuntarily received a fork/airdrop, the box is still checked YES!

Steem rewards would presumably be considered income valued at the price of the coins on the day in which the rewards were paid out.

What is interesting, is that in comparison to the values of everything else, the crypto market is absolutely tiny.

But of course... there is no future in crypto. Crypto is Ded. It will never be mass adopted.

Uncle Sam doesn't like it when people owe him money. No matter how small.

He'll find a way to make it into a bigger problem.

He'll find a way to make it into a bigger problem.

Yes, by inflating the value the best he can

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