CryptoGOV

09 Feb 2023 05:08

And what are they going to do about it? They can't shut down all crypto

CryptoGOV

09 Feb 2023 04:39

Is there any consensus in how to treat a token you have swapped that at the time of the swap had no value? For example, in swapping HEX for MAXI, one would receive an equal amount of MAXI for each amount of HEX. However, MAXI itself had no value at the time of the swap. I know Tobiwan has asked this question in the past, but I've not found a consensus on how one should think about it? 🤔 In my case, I'm using Koinly. What's maybe one way this could be accounted for?

CryptoGOV

08 Feb 2023 20:40

@TheLongVacation !report

CryptoGOV

07 Feb 2023 15:55

Hi USA Folks, how much are you paying your CPA/tax professional to prepare/process your crypto taxes? I paid way too much for 2022 and am researching for 2023 tax returns. Also, is it a fixed price or cost reimbursement based on the number of hours spent? Thanks!!!

CryptoGOV

20 Jan 2023 23:37

I assume the team will announce a launch price. I believe it will be zero. And remember there will be a delay between to bridges and the launch...

CryptoGOV

20 Jan 2023 15:46

They will be in the wallet from the first block on the chain.

CryptoGOV

20 Jan 2023 12:47

Just thinking ahead to if (no expectations) any airdrop might happen in future

CryptoGOV

20 Jan 2023 12:44

Can anyone advise on the best way to treat a sacrifice amount on Koinly pls? Doing my taxes

CryptoGOV

20 Jan 2023 00:44

What country are u subject to taxes on and is it for personal income or business income?

Assuming it is for the U.S.& it's personal income, if you did it with the intent of making an investment, then yes, you can make a case that you had a capital loss. Otherwise, you cannot not.

CryptoGOV

20 Jan 2023 00:35

doing my taxes: i sent coins to a scam address is that considered as a loss?!

CryptoGOV

19 Jan 2023 21:52

I would disagree with that. In either case, you have the use of property and personal effort that spawns more property. Hence, until that property is sold or otherwise realized for value, there should be no realized tax event.

CryptoGOV

19 Jan 2023 20:28

Ok, sounds good! Thanks for your help with this stuff!

CryptoGOV

19 Jan 2023 20:16

Do you have an affiliate link for Rocket Dollar? I’m happy to use it when I sign up.

CryptoGOV

19 Jan 2023 20:04

Nice, even though there was no judicial precedent. But there was (although not officially binding) precedent regarding how the IRS chose to resolve the Jarrett's tax return.

CryptoGOV

19 Jan 2023 20:00

It depends on the staking rewards, I would think

CryptoGOV

09 Feb 2023 05:04

What’s the over under brian Armstrong is right about the SEC banning staking crypto

CryptoGOV

08 Feb 2023 20:43

You’re welcome and thank you ser

CryptoGOV

07 Feb 2023 23:23

"from_pool" I believe, which doesn't seem to exist anymore. I'm trying to figure this out as well

CryptoGOV

20 Jan 2023 23:38

I guess we will find out soon hopefully.

CryptoGOV

20 Jan 2023 23:35

I expect the PulseChain team will be vigilant enuf to close that loophole.

CryptoGOV

20 Jan 2023 13:18

Will these pulsechain tokens actually hit wallets at 0 price? If there is delay and token 10x in value before hitting address the lag time will change initial value

CryptoGOV

20 Jan 2023 12:46

Assume it would just be a withdrawal Tx?

CryptoGOV

20 Jan 2023 02:41

wow, got my W2. I'm making as much as I did in 2001 dollar wise. What happened to those 9 years of making bank???

CryptoGOV

20 Jan 2023 00:44

do i have to report this to the authorities

CryptoGOV

20 Jan 2023 00:26

Let me clarify - in what way do you spawn more property? If it is by providing a service (loaning your token for yield or staking in a protocol where you earn fees from the transactions of others) then the yield is generally going to be taxable upon receipt even if you don’t sell. If you are mining or staking in a smart contract like Hex through which you mint your own yield, then you are looking at deferred cap gains when you sell. The process you use to earn the tokens matters.

CryptoGOV

19 Jan 2023 21:24

If your income is from running a node, the Jarrett case is relevant. Otherwise it is not applicable.

CryptoGOV

19 Jan 2023 20:27

Thank you, I appreciate the offer, but not without doxxing myself. I am just happy to see people take advantage of the tools available to help find financial freedom.

CryptoGOV

19 Jan 2023 20:07

I think the IRS did at least tip their hand, i.e. if U R willing to fight hard on this issue (even if the dollars are big) they will back down.

CryptoGOV

19 Jan 2023 20:01

Can even referring the Jarrett vs IRS case be used as a defense in case of an audit? That the IRS issued a refund?

CryptoGOV

19 Jan 2023 20:00

There's also XEN crypto which is "free", you just pay gas to mint.