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You can end up in this situation if you traded profitably in 2017 (which is totally reasonable to expect due all the price hikes) and then lost a lot in trades
by hippich 9y ago
You can end up in this situation if you traded profitably in 2017 (which is totally reasonable to expect due all the price hikes) and then lost a lot in trades in 2018.
As far as how he got $330k - each time you convert one crypto to another you realize gain/loss. And it is quite possible to expect him to do just that.
- dustingetz 9y agoSuper common situation is you make a couple trades in 2017'Q4 and 2018'Q1 during the bubble and just decide the whole thing is stupid and forget about it all because you never realized anything in USD and it's all fake. And then the IRS comes and says actually you owe USD. And the price dropped back down so you might not even have enough to cover it!