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FluidFluxation's profile
Will 🗣️ 🌐
Will 🗣️ 🌐
Will  🗣️  🌐
@FluidFluxation

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Will  🗣️  🌐

@FluidFluxation

$I am‽ Generalist. Theorycraft.

Here, Now, Probably
Joined April 2011

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    1. dj Thistle‏ @DJThistle01 Jan 24

      READ THIS If you made mad gains in 2017 and don't have a pile of fiat right now for taxes then don't get caught bag holding if we go under 10K or you might get wiped out and effectively have nothing. It's more complicated than just that. Just, go see an accountant asap please.

      29 replies 26 retweets 124 likes
    2. Crypto Stud‏ @Crypto_Stud Jan 24
      Replying to @DJThistle01

      As far as I'm aware, only crypto-to-fiat trades count as tax events for 2017. Crypto-to-crypto trades were not applicable as tax events in 2017, but are now supposedly effective for 2018 due to a tax amendment. However, all of this is still as clear as mud.

      2 replies 0 retweets 5 likes
    3. dj Thistle‏ @DJThistle01 Jan 24
      Replying to @Crypto_Stud

      crypto to crypto is taxable in many countries.

      1 reply 0 retweets 4 likes
    4. Crypto Stud‏ @Crypto_Stud Jan 24
      Replying to @DJThistle01

      For the U.S., I strongly believe that crypto-to-crypto should fall under "Like-Kind Exchanges Under IRC Code Section 1031". Basically trading a volatile speculative virtual/utility currency for another like-kind. As far as I know, the IRS has been pretty silent on all of this.

      4 replies 0 retweets 2 likes
      Will  🗣️  🌐‏ @FluidFluxation Jan 24
      Replying to @Crypto_Stud @DJThistle01

      Everyone circulates the like kind exchange argument with understanding what they say. Like-kind is a tax avoidance that MAY apply, but only with proper documentation and reporting. Messy alt coin exchange logs aren't inherently like-kind eligible.pic.twitter.com/QdZf7DMh5d

      11:52 AM - 24 Jan 2018
      • 1 Like
      • Crypto Stud
      1 reply 0 retweets 1 like
        1. Crypto Stud‏ @Crypto_Stud Jan 24
          Replying to @FluidFluxation @DJThistle01

          Yeah. There's going to be a huge demand for CPA's specializing in cryptocurrency and they'll all prob charge a hefty premium for their services.

          0 replies 0 retweets 0 likes
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