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Started By
Message
re: Official CryptoTalk Thread
Posted on 5/30/17 at 4:32 pm to RickySauwce
Posted on 5/30/17 at 4:32 pm to RickySauwce
It shouldn't matter because your losses are treated as a deduction, if I'm understanding correctly.
It would be the exact same as buying and then selling on 12/31.
If you buy and don't sell, then you shouldn't pay taxes.
It would be the exact same as buying and then selling on 12/31.
If you buy and don't sell, then you shouldn't pay taxes.
1
Posted on 5/30/17 at 4:33 pm to RickySauwce
No it's every trade. Nothing to do with putting it in your bank account unfortunately
Posted on 5/30/17 at 4:34 pm to RickySauwce
quote:
yes. This shite is gonna eat into my gains. So what is the point of trading if all of my gains from fluctuations is eaten up by taxes. Would I be better served just buying and never selling and only adding to my investment.
In a perfect world you'd be better off just adding to your position, but I feel like most in this thread are buying dips and selling surges to build up a stack without having to outlay additional USD.
So while your initial gains will be taxed, I think the goal is to be sitting on a huge stack down the road when this really blows up.
This post was edited on 5/30/17 at 4:40 pm
Posted on 5/30/17 at 4:34 pm to RickySauwce
quote:
but by gains I feel as though that means depositing the usd back into my bank account. Taking the gains and reinvesting back into another crypto though is what I'm talking about
If I sell a stock but keep the proceeds in my TDAmeritrade account, it's still my cash and I'm going to be taxed on the capital gains, even if the money never sees my checking account. It doesn't matter where you actually have the money, all that matters is that you sold stock (or crypto) for USD.
Posted on 5/30/17 at 4:35 pm to SoFresh
Wash tax rule
quote:
The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so
Posted on 5/30/17 at 4:37 pm to MrSmith
I haven't been making losing trades. lol.
Posted on 5/30/17 at 4:39 pm to RickySauwce
New all time high
Posted on 5/30/17 at 4:43 pm to MrSmith
Ethereum volume has surpassed Bitcoin volume and Eth has broken free of following btc's ups and downs.
Posted on 5/30/17 at 4:44 pm to RickySauwce
Me either haha this is unreal
Posted on 5/30/17 at 4:45 pm to MrSmith
Ah, I see. Thanks for the clarification. It's kind of difficult to make losing trades though.
Am I able to deduct transaction fees?
Am I able to deduct transaction fees?
Posted on 5/30/17 at 4:47 pm to SoFresh
THIS INCREASE IS INSANE
Posted on 5/30/17 at 4:48 pm to SoFresh
I think so but I'm not positive
Posted on 5/30/17 at 4:50 pm to SlowFlowPro
First time I have sold in the morning to lock in gains and wait for the afternoon dip that never happened.... 
Posted on 5/30/17 at 4:50 pm to SlowFlowPro
Absolutely wild and I love it.
Posted on 5/30/17 at 4:51 pm to UnluckyTiger
this shite is insane. i'm sitting on cash so i'm not trading but i can't believe this rise (and no afternoon dip). what are the asians about to do, though? that market is about to pop off in an hour or 2
Posted on 5/30/17 at 4:52 pm to tigersnipen
Yeah I missed out on a couple dollars of profit as well but got back in at a decent time
Posted on 5/30/17 at 4:54 pm to SlowFlowPro
The weekend purged all the weak hands.
Posted on 5/30/17 at 4:56 pm to UnluckyTiger
I have been sitting here just waiting for the right moment to jump in. Now I feel as if I should wait until the Asian market gets going. Surely there will be an eventual dip...
Posted on 5/30/17 at 4:59 pm to bricksandstones
What is the reasoning behind a dip due to ETH being available on an Asian exchange? I figured that would lead to more buyers and drive the price up. Is there something I'm missing?
Posted on 5/30/17 at 5:00 pm to SoFresh
I think it's just wishful thinking.
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