Not surprised to see Bitter Broke Bilal747 still in here wrong as usual. Now his new thing is to talk about potential taxes on earnings. Dummy even thinks you pay taxes on losses.

Dude is little more than aging attention wh*re. If you take any of his financial advice, you deserve to be as poor as he is.

Y.G. said Not surprised to see Bitter Broke Bilal747 still in here wrong as usual. Now his new thing is to talk about potential taxes on earnings. Dummy even thinks you pay taxes on losses. Dude is little more than aging attention wh*re. If you take any of his financial advice, you deserve to be as poor as he is.

Tag me or quote me next time so I know to reply instead of side texting like a bi*ch

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The crypto market is down 46% from its all-time high in May, but shrewd investors are celebrating the dip in prices.

Because the IRS classifies digital currencies like bitcoin as property, losses on crypto holdings are treated much differently than losses on stocks and mutual funds, according to Onramp Invest CEO Tyrone Ross.

With crypto tokens, wash sale rules don’t apply, meaning that you can sell your bitcoin and buy it right back, whereas with a stock, you would have to wait 30 days to buy it back.

This nuance in the tax code is absolutely huge for crypto holders in the U.S.

For one, it paves the way for tax-loss harvesting.

“One thing savvy investors do is sell at a loss and buy back bitcoin at a lower price,” explained Shehan Chandrasekera, a CPA and head of tax strategy at crypto tax software company CoinTracker.io. “You want to look as poor as possible.”

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Can You Write Off Crypto Losses On Taxes?


Yes. Cryptocurrencies such as bitcoin are treated as property by the IRS, and they are subject to capital gains and losses rules.

This means that when you realize losses after trading, selling, or otherwise disposing of your crypto, your losses get deducted from other capital gains as well as ordinary income (up to $3,000).

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Bitcoin taxes can be a bummer, but at least you can deduct capital losses on bitcoin, just as you would for losses on stocks or bonds. These losses can offset other capital gains on sales. When you’re done tallying your winners and losers, you can’t write off a loss of more than $3,000.

With drastic fluctuations in bitcoin’s price happening all the time, many bitcoin speculators will have losses. If you have losses on bitcoin or any other cryptocurrency, make sure you declare them on your tax return and see if you can reduce your tax liability.

Bitcoin taxes just for using bitcoin? It’s one more reason to be very careful with the cryptocurrency.

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Here is my data. If I'm wrong IYO, post your data and lets discuss.

^ This is idiot just proved my point. Bitter Broke Bilal747 clearly doesn't know anything about tax-loss harvesting, even after copy and pasting examples.

Losses on crypto can be wonderful for your tax bill if you have profited during the year. But of course BItter Broke Bilal747 wouldn't know anything capital gains.

Y.G. said ^ This is idiot just proved my point. Bitter Broke Bilal747 clearly doesn't know anything about tax-loss harvesting, even after copy and pasting examples.

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Look at those goal posts moving again. First you say you can't write off Crypto Losses, now you're saying I don't understand tax harvesting.

You're just gonna ignore being wrong a comment ago.





Here's my explanation in my words with no copy/paste. If I'm wrong, post data. Or would you rather troll?


Tax Loss harvesting AFAIK is selling at a loss, then immediately buying back "the dip". You still can claim the "losses"

You sell when you're down, then just buy it right back and HODL. When you sell, you lock in the loss amount, then you can buy it right back and still claim the losses on your taxes to offset any potential future profits.

I ALWAYS say I could be wrong. Post your data and let's see if I am wrong.

Losses on crypto can be wonderful for your tax bill if you have profited during the year. But of course BItter Broke Bilal747 wouldn't know anything capital gains.

Still side texting like a bi*ch. More opinions, no data.



You gonna post some code samples today or nah? Maybe you will post your Github for once?

Or would you rather just keep arguing and side texting like a bi*ch?

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Y.G. said ^ This is idiot just proved my point. Bitter Broke Bilal747 clearly doesn't know anything about tax-loss harvesting, even after copy and pasting examples. Losses on crypto can be wonderful for your tax bill if you have profited during the year. But of course BItter Broke Bilal747 wouldn't know anything capital gains.

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BitterBrokeBilal747 said First you say you can't write off Crypto Losses

Where did I say this? Fockin moron.

Bitter Broke Bilal747 said view image

Meanwhile, Bitter Broke Bilal's job doesn't even give him a single monitor. And he has to use his personal laptop for work use. The struggle. THE STRUGGLE!

Y.G. said Where did I say this? Fockin moron.

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Feel like posting some of your "code" today

BitterBrokeBilal747 said view image view image view image view image view image view image view image view image view image

He's having a meltdown ya'll.

Y.G. said He's having a meltdown ya'll.

No code. No Git as usual

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BitterBrokeBilal747 said No code. No Git as usual view image

Classic deflection from Bitter Broke Bilal. Bumbling idiot starts ranting about code when he gets called out for this

BitterBrokeBilal747 said First you say you can't write off Crypto Losses

Still waiting for you to quote the post where I said this. Fockin moron.

Can someone please a*sist Bitter Broke Bilal in finding the alleged post that states crypto losses can't be written off? His senility is whoopin his a*s today.

Y.G. said Classic deflection from Bitter Broke Bilal. Bumbling idiot starts ranting about code when he gets called out for this Still waiting for you to quote the post where I said this. Fockin moron.

The name change

justin747 said view image view image view image view image view image The actual Doge Coin creator says Crypto is all bullsh*t, but yall get mad when I say the exact same thing. The Crypto Cult is gonna be slap everything I post and talk personal sh*t about me for posting this, but some of y'all are gonna wish you listened when this sh*t all falls. I'm not hating on any Crypto winners or losers. I'm just saying at this point right now on July 15, 2021, start your exit strategy. Take your money and get off the casino SOON. Maybe I'm wrong tho.

He prolly got a bah from the govt oreere somebody got dirt on him. Plus either way he already made his bread from it so what do he care

Y.G. said He's having a meltdown ya'll.

And doge is up, it hit 50¢ he gon commit that

This aged well

Sumreyez said This aged well

Sumreyez said This aged well

killadre said

It really did, didn't it.

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justin747 said It really did, didn't it. view image

You must have missed me cashing out months ago for profits that paid for a bathroom remodel which put thousands of equity in to my house and paid off a car.

Things go up things go down. I won

killadre said You must have missed me cashing out months ago for profits that paid for a bathroom remodel which put thousands of equity in to my house and paid off a car. Things go up things go down. I won

I don't care about none of that sh*t.



Yall told me I was wrong, but yall all ended up being wrong. Own it.

justin747 said I don't care about none of that sh*t. Yall told me I was wrong, but yall all ended up being wrong. Own it.

We don’t care about that, we aren’t emotionally attached to it, we here to catch the wave, who cares after that

This equivalent to you saying vhs will never sell it’s a stupid idea when it first came out. It’s blows up, people make they bread then on to DVDs then you come say “see I was right vhs was worthless”

Think you missed the point we believe the creator was salty it blew up and he missed out on billions. His moral compass isn’t that straight, he was clearly bitter.

killadre said We don’t care about that, we aren’t emotionally attached to it, we here to catch the wave, who cares after that This equivalent to you saying vhs will never sell it’s a stupid idea when it first came out. It’s blows up, people make they bread then on to DVDs then you come say “see I was right vhs was worthless” Think you missed the point we believe the creator was salty it blew up and he missed out on billions. His moral compass isn’t that straight, he was clearly bitter.

That was one of the worst analogies you could have come up with



VHS even at it's worst had uses like watching and recording video. VHS still has value now. All you can do with Crypto is sell it to another sucker.

13 years in an yall still can't even agree on a use-case. Sometimes it's a currency, sometimes it's an investment, sometimes it's a "store of value"

justin747 said That was one of the worst analogies you could have come up with VHS even at it's worst had uses like watching and recording video. VHS still has value now. All you can do with Crypto is sell it to another sucker. 13 years in an yall still can't even agree on a use-case. Sometimes it's a currency, sometimes it's an investment, sometimes it's a "store of value"

The analogy stands and it right on cue with you and people like you.

People buy things with a dollar everyday
People invest in the dollar everyday
The dollar is sometimes “store of value”

Sounds familiar?

Fact is we won the championship while you set in the stands cheering against us

No need to reply cuz I’m done

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justin747 said It really did, didn't it. view image

I'm still holding
Still got money, no stress here

killadre said You must have missed me cashing out months ago for profits that paid for a bathroom remodel which put thousands of equity in to my house and paid off a car. Things go up things go down. I won

That's how you're supposed to do it. Only people that win in crypto are the "paper hands". It's the idiots that "hodl" no matter what that end up getting fu*ked out of their money.