Kilo Klub Member
- Nov 5, 2011
Coinbase was sending out the wrong tax forms...This is why many are getting hit with IRS letters and audits...Their forms were reporting everything as gains on cash outs, even on the losses. I believe they said they would not be sending that form this year?!My friend recently told me he got audited by the IRS and they told him he had to pay tens of thousands of dollars in taxes because of his crypto trading, even though he only netted like $200 from it all lol. So he's trying to sort that out now.
Something I've wondering though is, now that my investment is net positive again...if I sell only the amount I originally put in back in 2017 is that going to look like income for me that I need to pay taxes on, even though it was a net zero? The fact that the original investment was years ago is what's making me wonder.
Crazy how whales (I assume) could manipulate it to drop from almost 20k to 16k on Thanksgiving. I was expecting that to be the next big crash.Bitcoin sets a new record high. I am hoping Ethererum gets onboard and climbs more.
I agree, but if you look back at this thread in 2017-2018 the predictions are pretty hilarious and all were wrong lolI learn to hold for awhile. Buy the big dips and keep for a long period. I had always made money this way. I don't think we had even seen the highs yet.
True story. If I held it dezember 2017 it would be a profit.I learn to hold for awhile. Buy the big dips and keep for a long period. I had always made money this way. I don't think we had even seen the highs yet.
I agree and things were moving fast. I learn from past mistakes and learn to be more patient and hold a lot longer. I also watch big dips and try to buy more. I invested in ETH a lot due to better growth potential then Bitcoin and many platforms are based on it.I agree, but if you look back at this thread in 2017-2018 the predictions are pretty hilarious and all were wrong lol