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Agree fully with this point if it is considered income and not a gift. Let's assume the income case, a qyestion: What would happen if someone took these coins
by hellojesus 5y ago
Agree fully with this point if it is considered income and not a gift.
Let's assume the income case, a qyestion:
What would happen if someone took these coins then transfered them to a new wallet while claiming that their private key was compromised. So "theft" essentially. Would they still be on the hook for taxes?
The real downside to crypto to me is that there is no ownership, only proof of authentication credentials ownership.
- NikolaNovak 5y agoFrom position of ignorance, I assume broadly same as being paid and than saying dog ate your cash on way Home. Crypto is not the first opportunity for dishonest actors to do dishonest things (it's just more fun to watch as they proclaim princioles and future and innocence :-)
- throw123123123 5y agoYou can definitely deduct income with those claims, but the crypto one is a lot easier to lie about and nigh impossible to catch.
- 8note 5y agoI imagine that would open you up to fraud charges when you use said tokens to buy something and ship it to yourself