Government Doesn't Like My Taxes
So that's why my refund hasn't showed up yet... makes sense now
Apparently, the state is very interested in my cryptocurrency profits and wants to know more information. I had no problems with federal taxes, they gave a nice return right away without question.
But the Greedy State wants more!
Honestly though, I am not worried what-so-ever!
I Paid my Cryptocurrency Taxes!
The messed up part is that I was originally going to Not Include my crypto profits because there really wasn't much of a paper trail for tax purposes and I'm about 96% sure that if I didn't include it - There wouldn't even be an issue...
But, I did the right thing this year and paid good money in taxes
I tallied up every dollar and cent of bitcoin I sold and turned into cold hard cash... Then I claimed it as SELF-EMPLOYEMENT, I then handed both the state and federal a big stack of hundo's - Technically.
THEY OWE ME!
Even with my nice pay-in for crypto, my employment and credits give me a refund. But, I'm sure they don't really want to pay it...
I bet I just landed on the Governments Crypto Radar
Anyways, like I said, It's not a big deal really. Just I'm sure I'll have to make sure to pay them good next tax season...
Anyone else have tax issues? Feel free to comment.
~Keep on - Steemin' on~
@generation.easy
Bitcoin and Gold Fanatic
It seems like despite the fact you did the good thing and declared your crypto earnings which many don't do and now it is now going to be a great hassle.
Let's see what other things they will ask you. Let's hope it becomes easier from hear and you get your refund. :)
Yeah. I got coinbase and bank statements. Just kind of confusing.
I hope they can provide clarification on what I am supposed to do for this current tax season
Ugh. That sucks, just like taxes. That's why I don't actively trade any cryptos, they all go to cold storage (with the exception of Steem). After owning them for a year I pull them to play with. At least that way I avoid short term capital gains tax. Good luck.
Yeah, taxes suck. Like I said, I paid them good on crypto - I'm more nervous they are going to want my accounts so they can track them...
Governments everywhere seems confused over the issue of cryptocurrency. The taxes they can earn by legalizing these coins is too huge for them to ignore but seems they simply don't want us to make that much money ! That's why they are hanging in somewhere between...
Hoping for more sensible and profitable (both for us and govt) laws to come up in favor of crypto over the years..
I'm getting pretty annoyed with the U.S. being unable to create some clear tax laws.
They are confusing.
I just hope they don't start trying to make an example of me and do some complete audit...
Well at least they did not put by July 4 why that almost be unamerican.
These things where bound to happen. So many thing naaa it never happen. Governments just take a while to get around to things. They don't forget when its there turn to collect.
No issues on my end but it was a slow year so not much for them to really care about.
Lol, yeah. 1 day before, or they will show up 1 day after...
It was the first time for me trying to claim "Self Employment" taxes and I explicitly stated "Cryptocurrency Marketing" so I had a feeling they might ask some questions. Although, I was expecting Federal to cause issues and not the state - Weird.
Next year will be the really confusing year. Hopefully bitcoin explodes and I can pay them good again, or it collapses to 0 and they won't care how bad I lost ;)
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