Since IRS treats cryptocurrency as a property and any gains from crypto if reinvested in less than 180 days can be exempted from capital gains tax?? Did anyone did this in recent years?
I am planning to diversify my stock portfolio from a single stock to a booglehead style 3 fund protfolio. I want to avoid the capital gains tax that I will incur after selling my stocks. I will gain around 60k in profits. My net work is below 1M so I don’t think I qualify for exchange funds. #tax ...Read more
Hi everyone, We are brainstorming a work automation tool. Its purpose is to help you automate or outsource some of your work functions using AI to gain more freedom in life as an employee stuck in a job. It's not a B2B tool; it's a tool you pay for in exchange for autonomy. Assuming the product is...Read more
I don’t think any crypto exchange will report the transaction to IRS. In that case, is IRS even possible to track my gains?
I started trading crypto in 2017 using multiple exchanges and put everything in a ledger wallet since. I’ve been wanting to cash out for a while but the problem is I’ve traded and swapped them so many times with shitcoins, BTC and Etherium it’s impossible for me to show the cost basis of each trade ...Read more
I would like to know whether it’s possible to convert my vested stocks into stocks/ETFs/Bonds without incurring the capital gains tax. I don’t mind the subsequent capital gains tax. Just if I can skip it when converting from RSUs to other instruments. Currently, the only option I see is to have them...Read more
Anyone here swap their company stock holdings into an exchange fund? My advisor is recommending I do this to avoid tax penalties while gaining quick diversification. Wondering if others have done this and what their experience is. Thanks!
We are currently staying in a rented place and have been renting our primary house for over 6 years. We want to sell our primary house now. I heard we will taxed on the gains as it’s more than 5 years? Is there any other option? I read a bit about 1031 exchange , has anyone gone through this? #mort...Read more
Say X works for Google and wants to sell his RSU to buy MSFT. In current brokerage system, it hits tax on the capital gain. Wonder why no brokerage allows exchanging the equity without hitting a tax. Example, say Y works for Microsoft and plans selling her RSU to buy GOOG. X and Y can exchanges th...Read more
I bought some bitcoin on Coinbase about 3 years back and moved them to a hardware wallet. Now, I am planning to permanently relocate to India for personal reasons. 1. Can I keep my bitcoin and sell it off after may be 1 year on an Indian exchange? 2. Do I have to pay any tax to US government on ga...Read more
Friend had a rental home in Bay Area; based on someone’s suggestion he did a 1031 exchange to a new home (sold the old one) and moved into new one, questions, - is he entitled to pay capital gains tax on the gain upon sell-transaction - if yes, is there any alternative to avoid it.. Anyone ...Read more
Did you file crypto taxes in 2016 and claim like-kind exchanges under section 1031 - i.e. claimed no gain since the trades were crypto to crypto rather than realizing the gains into fiat? If so, did you file form 8824? And if so, did the IRS challenge it? The 2018 tax code closed this avenue but it...Read more
How can people expect to transact BTC day to day? To me, this is why BTC will never be a viable "currency". People are telling me to sell it on an exchange, but being a hardcore libertarian I refuse to use exchanges, let alone put my PI and banking info on there. Semi relevant: If you live in the b...Read more
I'm at a startup that has raised three rounds since I joined. I don't foresee a liquidity event in the short-term, and I think stock buybacks are out of the question. I feel a bit over-leveraged for my risk profile, and I'd happily trade liquid compensation for potential future gains. Has anyone ...Read more
Has anyone done a DST 1031 exchange? I have an investment property which has a mortgage of 400k. The current value of the property is around 800k. I originally bought it for 375k and then did a cash-out refi. Now I am planning on doing a 1031 exchange but realized that I will be paying taxes on the ...Read more
I sold stock last year in US when my status was non resident alien (also not physically present at all in that year). From irs.gov and other resources, I read the gains are not taxable (however my CA thinks they are 😏). Anyone been through this? If you ended up paying tax, can you please share a l...Read more
How would you minimize capital gains tax? Supposed you bought a house and lived there for many years. You kids attended school and so on. Then your job locations changes and you have to move to the area with the same house prices as yours. But if you sell your house you will be short of capital gain...Read more
Rookie here.. 1. Where can I learn about Crypto & it's investments. 2. Are these real money or just on paper ? 3. Any minimum $ to start with ? 4. Is it worth starting now (ofcourse after understanding it) 5. How risky it is compared to regular stock exchange. 6. how about Taxes? is it same like c...Read more
What is their role? Afaict they seek to gain banks & hedge funds as clients to trade with them as a kind of middleman, instead of trading directly at the exchange, for "liquidity" reasons. (i.e. not impacting the market with whale orders? Is there another reason?) How much do these people make (in ...Read more
Should we pay tax in USA while selling RSU which vested while working in India(but are listed in US stock exchange).Tax was already paid in India while vesting.So,should I pay just capital gains if I sell the RSU while staying in USA.Can I get tax exemption by submitting form 1116?