Live data from Hacker News

Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan

bloomberg.com

191–194 of 194 posts

Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan

#191

Earlier quoted context omitted.

I never said anything about not spending it. Clearly though if you bring money over to USD, it's quite visible and taxable. To be honest, I don't know what your point is. If I make 50k/y and buy a 2.5m house with cash, the gov is going to ask me where it came from too. What's this have to do with my comment questioning the governments ability to track anonymous coins? Anonymous coins _(if working properly)_ are effec…

They track cash via audits. The same thing will happen with anonymous coins. So if your apparent income (tracked purchases) is larger than your declared income you can expect an audit, no matter where the extra money came from.

That is exactly my point. I said it's the same as coins.

Re: Tax-Free Bitcoin-To-Ether Trading in US to End Under GOP Plan

#192

Earlier quoted context omitted.

A CSV file is a dream compared to what you might have to go through with on normal stocks. My wife inherited a small amount of telecom stock from her grandmonther who worked for AT&T back in the early days. No records had been kept as to when the stocks were bought (they were part of her salary I think). Of course they were all acquired before the Bell breakup. So what she inherited was a big mess of baby bells and a…

Something like that I'd collect all the paperwork, put a few stickies with whatever additional information, and give the pile to my accountant. I can't for the life of me comprehend why people do their own taxes. A quality accountant costs maybe 400-500 bucks, which sounds a lot but depending on your salary, it can represents many thousands of dollars of savings. My theory is it's the do-it-yourself fix-the-house typ…

Spending $400-$500 to save me the tax on a $17.40 fractional stock sale sale doesn't seem like a prudent investment.

Might be worth it if we ever had to do a big sale though.

Post reply on HN