>Morten bet his entire pension on crypto and lost it all. Now he owes 7 million Dkk in taxes (a bit under a million euros)Because of how taxes are calculated you sometimes will pay more for the profits than you can deduct for lossesAnd so even people who lost their entire savings will get a tax bill
>>61671381>And so even people who lost their entire savings will get a tax billthis is so fucking stupid, like holy shit, how can they ask for money to people that literally have none anymore?
That's why you must tax harvest in December using DeFi. There are many tricks that keep you invested in crypto while realizing your loses, like swapping my entire ETH stack to RETH and then back without a worry as. Bitchuds will have to deposit to Binance to accomplish this just as satoshi intended.
>>61671742Have you ever heard them speak? Their language sounds like made up gibberish.
Gotta pay for his replacement.
>>61671742bureaucratic autism
dont you have to pay taxes just when you cash out?
>>61671742It's because of how the profits are calculated vs losses
7 million DKK is 1.1 million dollars>In Denmark, capital gains on shares are generally taxed at 27% for the first DKK 158,800 (2026) and 42% for amounts above that threshold,So this dude made more than 2.5 million bucks in crypto. He utterly mogged my pathetic cuck existence. And then, like a retard, he managed to gamble it all away probably in one big leverage trade.Why?
>>61671761>>61671761Not familiar with this specific method but interested. I just harvested in 2025 6k to have 3k carry over selling and rebuying late month high cost basis lots. Figured they’ll have wash sale implemented this year so why not take advantage before hand.Why not just sell and rebuy the eth immediately?
>>61671966like all people who trade crypto he was driven by greed and stupidity
>>61671972>Why not just sell and rebuy the eth immediately?no slippage or exchange fees, good for loss-harvesting larger amounts
>>61671761Or you could simply join the shadow economy of Monero and never have to worry about stupid shit like taxes
how do you prove you "lost it all" in crypto anyways
>>61671742Sweden wins again
>>61672014I bet his thought was>I have to pay 1.1 million intaxes, but what if I 10x it and then I'll have 10 millionAnd instead of trying to 10x by investing in something slow growth he decided it was all in win or die on a single big bitcoin move on binance.
>>61672197Idk, it also seems like any wallet that you have ever interacted with could be "yours" according to the courts and you'd have to prove its not. So lets say you got paid by a millionaire, well that wallet looks like it belongs to you.
>>61672197like if you lose money in a stock
Anons, pls >>61671938It's my 4th year in crypto and I've never cashed out. Will I be okay? I don't know how taxes work. I thought you cashed out and you would had to pay a % based on that
>>61672252If you're euro, it's over. DAC8 will take care of ya.
>>61672045Good to know. What’s the best route for selling 5 figures worth in general to not get heemed by makerstein and takersberg? You seem knowledgeable on the subject
>>61672252I am assuming you mean you've been DCAing bitcoin for 4 years. If you sell you will have to pay capital gains based on your total profits vs. your cost basis (the money you put in).Or if you're actually broke and underwater due to investing in chainlink you won't have to pay anything.
>>61672252No you do it when you file at year end. So you wouldn’t until April of next year.
>>61672271Yes, please don't scare me. I've never done any taxes. This is my last year of university>>61672282Yes, I started with crypto 4 years ago. At first I was just buying btc and ethereum and now apart from DCA, I trade on hyperliquid. I haven't cashed out anything. Just Euros to stables.>>61672285Even if you dont cash out? Are you serious?
>>61672296>I trade on hyperliquid. I haven't cashed out anything. Just Euros to stables.Crypto to crypto is taxable in most countries. Doing USDT or USDC>shitcoin>selling shitcoin for profit back into stables is likely taxable in your european country unless there is some special otherwise. If you were just investing it wouldn't matter but trading is usually going to trigger taxable events.
>>61672281trade on kraken. I made that mistake back in august with coinbase. 400 bucks in fees on less than 20k profits? Fucking NIG-
>>61672354GERYeah I’m fucking done with goybase and paying monthly for lower (((fees))). And thanks anon
>>61671966>So this dude made more than 2.5 million bucks in crypto. He utterly mogged my pathetic cuck existence. Lmao no you fucking cocksucker. Denmark taxes crypto gains at 53% but you can only deduct crypto losses at 26%. its called asymmetric taxation.So if you trade a lot and made total gains of $0 but had a total of $4 million realized gains and a total of $4 realized million losses in the same tax year, you owe daddy government $1 million in capital gains ***OF MONEY THAT YOU NEVER MADE***.
>>61672252ask an accountant
>>61672349>Crypto to crypto is taxable in most countries. Doing USDT or USDC>shitcoin>selling shitcoin for profit back into stables is likely taxable in your european countrySeriously?
>>61671381This shit has happened to a lot of people in Denmark and it's messed up... The tax authorities know it but they have only recently addressed it are preparing new tax rules for crypto investments.
>>61671381Is this official yet, or just proposed?
>>61672414>Seriously?you are gonna make your local taxman a very, very happy man when you cash out anon.what cunt are you from? what exchanges you used to dca or cash out?
>>61672296>I've never done any taxes.Then you need to hire an actual agent and let them know your situation. >>61672296>Even if you dont cash out? Are you serious?You think you can chill with 6figs+ in crypto and never pay tax just because you never cashed out into fiat? Are you high? Contact an agent. It's not the end of the world, you can fix this, but you need professional help to fix this. Don't wing it.
>>61672480I use binance for my DCA (I never touch that part of my portfolio) and hyperliquid for my trades. And I have thousands of trades. >>61672480>>61672484So you're telling me I have to show every single trade that I've made, with the gains, the fees and everything? It would be thousands of pages. Does everybody do this? Like those kids that gamble and shit? The moonboys that make bucks with doggy coins, etc.I'm shitting bricks now. You're scaring me. I was so happy with my trades.
>>61671381They pulled the same shit over here (France) since January 1st : a combo of yearly taxes on unrealized gains + 35% CGT + you can't cash out anyway.I remember back during the 2021 bullrun Macron told us France would become the crypto capitale of Europe lol. So far we've seen nothing but taxes raping.Oh, and kidnapping, we are 26% of all crypto related kidnapping & tortures in the world even tho we have one of the lowest adoption rate, simply because our IRS thought it would be a good idea to create an unprotected database with all crypto millionaires listed with their declared portfolio + physical addresses (to make sure to not forget to taxes them to death). Ofc it got hacked on week 2 and now every whale got a target on their back.Thank you so much frog gubment, you truly are our greatest ally.
>>61672484>>61672480I often hear people on biz how they used to have these huge portfolios and then they lost most of it doing leverage trading or holding coins to 0, getting rugged, etc.So what happened to those guys? The same as that norwegian guy from op's pic?
>>61672531>It would be thousands of pages.Anon, it's a public ledger. You just need wallet addresses and keys from whatever exchanges you've used. All the info is auto collated through software. >I'm shitting bricks now. You're scaring me. Look at is this way: you making an attempt on your own to correct this is far better than your gov. tracking you down for it. Then you'd really be fucked. Don't listen to any anon here who'd tell you to avoid this. They're either morons or they're malevolent and trying to ruin your life for keks.Don't be scared. Just hire an agent, let them know your situation and that you'd like to correct anything outstanding. They'll help you, that's their job.
>>61672556>unprotected database with all crypto millionaires listed with their declared portfolio + physical addressesyou gotta be fucking kidding me...
Man, I'm now shitting bricks. I'm unironically scared. Maybe I shouldn't have gotten into crypto.
>>61672531with dac8 starting next year exchanges will report your balance and transactions from this year to your local irs automatically.>>61672557depends on whether they ever cashed out to their local bank AND their local irs got whiff of it.thing is it gets much worse starting next year thanks to dac8.if they have a way to link you hl to you, thru binance, then you might get rekt.the most obvious red flag is "large" sepa transfer from exchange to bank.by large i mean more than 1k €, the travel rule starts at 1k.
>>61672612Stop being a weak cunt. You're fine. It's not a big deal, especially if you're the one reaching out to correct it.
>>61671742The whole bureaucratic system is just a humiliation ritual for goyim
>>61672593>if only you knew how bad things really are.jpg
>>61671381Dane hereNo crying in the casino
>>61671381You muzt. . . Pay tax. . .
>>61671742What part of the good guys lost WW2 dont you understand ? You HAVE to pay your taxes OKAY?
>>61671381kwab
>Nooooo I wasn't supposed to be able to lose anything! How dare anyone tax my earnings when my latter investments failed!?>>61672014>>61671966This lol, dude had it made and then instead of just being content with that, he in his stupidity gambled it on more internet money that failed miserably and now comes crying as if he was a victim when it didn't pan out.
>>61672914>What part of the good guys lost WW2 dont you understand ?The absolutely absurdity and retardation of that statement.
>>61672982I guarantee you if you gave every allied soldier a glimpse in to the world they were fighting to create they would have dropped their rifles or fought for Hitler
>>61673101M'kay nazi-boi. I am sure the drug riddled nigger tier regime of nazi germany who's economic miracle consisted of "lets take dem loans n just never pay back" could have built a stable long lasting society that looked to the well being of their people.>Uh yeahYeah, the regime that actively oppressed dissent (because they could never actually gather enough support to begin with) and who when their shit were at the end of their rope blamed the people for failing their absurd ambitions and ideas and felt the people deserved everything bad that was coming to them.Real standup guys.
>>61672365gains and losses are calculated at the end of the year. you can't gain AND lose at the same time.dude probably made like $1m one year... didn't pay taxes, then lost everything the next - but you can only deduct so much per year of your losses. so he is stuck owning money, despite having none.that's how it would work in the USA, anyway.
>>61673481I accept your concession
>>61672622Thanks for the advice, man. I'm shitting bricks but I'll try to fix everything.
>>61671938Yes but it counts as realizing gains every time you sell, even if you then buy back. Your funds don't even have to leave the exchange. The guy in this article traded back and forth multiple times, thus triggering capital gains. The way to avoid something like this from happening is to know what triggers capital gains (any kind of selling/exchanging of your coins), and then immediately put aside part of the profit from such trades to taxes. If he only knew the basics about how tax works it is extremely easy to avoid. But he didn't.
>>61671381Awww nooooIm soooo demmoooooorrraaaaalliissed
>>61675215>The guy in this article traded back and forth multiple times, thus triggering capital gains.But I've been doing that for 4 years. I started the summer I finished high school just before university. What the hell is gonna happen to me?
>>61671381Why does it look like he's in prison?Why is he so fat?Why does he look inbred?Is Norway ok?
>>61675450If the tax service catches you, or if you're a good boy and report those trades yourself as you are legally required to, then you'll owe taxes on the profit of those trades. The specifics depend on your country.Did you have huge profits and have now somehow pissed them all away? You have a problem, then. Talk to an expert. You could say nothing and hope they don't catch you, but that's a risk.If you didn't make much profits anyway, or if you still have those profits so that you can set aside what you owe, then no problem at all.
>>61671381from the entirety of this thread i can see most people still dont know day trading wash rules or whatever name your local jurisdiction has for itthis guy probably never had any real amount at any time but traded a huge volume over the year
>>61676083>You have a problem, then. Talk to an expertdont talk to an expert, not on the books with an official appointment anywaysmost of them have a duty to insta report you to the tax office if you dont follow their advisetheir advise is always to drop your pants and prepare for the irs raping, which is a problem if you literally cant pay it
>>61673481>M'kay nazi-boi.holy plebbit
>>61673101Would look a bit like China, Russia and the current state of America
>>61673481 Be quiet kike. You sound like a seething kike. Sieg. Swastika in the thread. White power. White race. KKK. Sieg heil for the Reich. Trump2020 #Reich. I sieg heil. Volk for the krieg. Krieg for the Führer. SS. Sieg. Seething kike.
>>61672556>Ofc it got hacked on week 2prolly not even hackedon day 2 they offered 100k to pierre the low level government bureaucrat who makes 30k net a year and who would have done it for free even to get one back at those evil rich peopleand with dac8 this is now going to happen everywhere in the eubasic opsec now requires to have a fake empty house that is listed as your official residenceluckily the government already has used digital messaging systems so this is possible without having to regular check your physical mailbox
>>61676605Cringe
>>61676605baste
*Ahem*Cough*Ahem*
>>61671965Sounds like the calculations are bullshit then and whoever came up with them should be shot.
>>61677334Of course it's bullshit.It's meant to rob you, not make you rich.
>>61671381Based Denmark dabbing on leeches.
>>61671381>taxesMonero chads win again
>>61675215>immediately put aside part of the profit from such trades to taxesOr just track it and settle it year end, harvesting if you need to. That’s stupid to just put away fiat to rot mid year or early in year
>>61680151They can do that if they are smart and disciplined, but my advice was aimed toward dumbasses. Because anyone who isn't a dumbass didn't need advice anyway, they know basic law and have things under control.
Is there a thread for people who got scammed by fraudulent crypto investments? I lost 40k USDT in such a scam 2 and a half years ago.
