- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Crypto and taxes.
Posted on 7/22/21 at 1:02 pm to Mingo Was His NameO
Posted on 7/22/21 at 1:02 pm to Mingo Was His NameO
However to me one year ago the price of the truck was 1.67 Bitcoin. A year later the price has come down to 1 Bitcoin.
We now have to pay gains taxes on all products that reduce in price?
ETA: can I declare losses on purchases on goods that go up in price?
We now have to pay gains taxes on all products that reduce in price?
ETA: can I declare losses on purchases on goods that go up in price?
This post was edited on 7/22/21 at 1:04 pm
1
Posted on 7/22/21 at 1:25 pm to GumboPot
quote:
We now have to pay gains taxes on all products that reduce in price?
ETA: can I declare losses on purchases on goods that go up in price?
It has nothing to do with the goods and their prices.
It has everything to do with the fact that the IRS has classified crypto not as a currency, but as a security.
Does it make sense? Well... most currencies don't fluctuate in value like crypto does.
This could all be changed by changing the law, by the way.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News