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yes i agree but any capital loss must be realised right?so win...

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Lauban

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24/12/17

22:44

Post #: 29864231
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Originally posted by valvesound ↑

I think the tax thing is interesting.

So the government says you must pay tax on any capital gains you make from crypto trading.

I wonder how they treat a capital loss ?

Fred deposits $20k into his crypto trading account.
Fred looses all his money from trying to trade crypto's via multiple exchanges around the world
Fred writes on his tax return he lost $20k trading crypto for the financial year.
ATO says poor Fred, here is a refund ? Unlikely.

It would be nearly impossible to prove you actually lost compared to the ATO being able to prove you actually made money from crypto?

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yes i agree but any capital loss must be realised right?so win or lose any tax statement must be supported by a transaction to fiat.

Also regarding icos, i wanted to participate in thekey but if bitcoin goes down, one must calculate how much they win in fiat if bitcoin goes down and they participated in the ico vs if they were to just buy post ico.
That last statement probably does not make any sense but ive had too many champs tonight happy christmas valvesound

Last edited by Lauban: 24/12/17
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