Quote:
Originally Posted by Humdizzle
i'd probably guess most the people who just jumped into crypto from the hype don't know this. or just don't care. If you make under 100-200k a year your chances of being audited are very slim.
The waters get muddied further since you can use crypto to buy things directly without needing to cash out through a bank like you would with stocks
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most of the people are buying through crappy brokers like Robinhood who don't actually give you the coin to place in your own wallet
you're just betting on the price of the crypto going up or down
so they're all going to get dinged with tax liability because you can only buy or sell, can't use the actual crypto as currency