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| BadMouth:
--- Quote from: pbj on January 18, 2018, 10:35:49 am --- --- Quote from: dkersten on January 18, 2018, 10:05:24 am ---Those short term capital gains taxes will now take about half, lol. --- End quote --- More like 35%.... ::) --- End quote --- Taxed as ordinary income, so depends on your tax bracket. ...assuming he's in the United States. |
| fallacy:
ya like I am going to claim my small gabbling winnings. Newegg sent my a tax form that one was funny as well. Speaking of Newegg I bought a 1080 ti for VR for $740 and thought I was being raped by that price they are now being sold for around $1400 :puke I heard because of Ethereum mining, I will have to double check if that is the main reason though. |
| BadMouth:
Who did you buy ethereum through? Most places like Coinbase now issue 1099s to report the sale to the gubmint. |
| shponglefan:
--- Quote from: fallacy on January 18, 2018, 11:26:59 am ---Speaking of Newegg I bought a 1080 ti for VR for $740 and thought I was being raped by that price they are now being sold for around $1400 :puke I heard because of Ethereum mining, I will have to double check if that is the main reason though. --- End quote --- A combination of memory shortages and cryptocurrency mining demand has pushed up GPU prices. It's been ridiculous lately. |
| dkersten:
--- Quote from: pbj on January 18, 2018, 10:35:49 am --- --- Quote from: dkersten on January 18, 2018, 10:05:24 am ---Those short term capital gains taxes will now take about half, lol. --- End quote --- More like 35%.... ::) --- End quote --- About 42% for me once you add in State. At least pre-Trump tax plan. At least they don't try to tack on self employment taxes when you are doing your own trading... Those kick me up into 49% for book income. When trading cryptocurrency you don't have to take the tax hit until you convert to U.S. currency. But they all seem to be following Bitcoin so for those who bailed out of etherium in recent days by converting to bitcoin, they still took a bath. Some exchanges have a limit on how much you can cash out to U.S. currency per day, and it takes jumping through a lot of hoops to be allowed to do more. The friend I was talking about earlier was tempted to keep his Tron windfall in Bitcoin for a year so he could pay the lower long term capital gains tax, but he bit the bullet and cashed to u.s. currency just in time to see it all plummet. Lucky SOB.. :) |
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