New IRS Crypto Tax Rules DAYS AWAY! You Need To DO THIS NOW!

[@CryptoCapitalVenture]

Sign Up With CoinLedger Now! coinledger.io/?fpr=ccv

[@EternalCreator]

It'd be much simpler if they just mind their own business and stay out of people's pockets

[@maingameseru1415]

Bro, pepe halving !

[@leskobrandon7516]

What a pain in the ass. hopefully trump can do something about this malarkey.

[@gregor9189]

Trump said no taxes on crypto. I'll take him at his word.

[@BullMarketBandit]

Pray

[@yomarvazquez5496]

The clowns in the IRS see conversion of stablecoins as gains, how are they going to make sense of their new rules?

[@jamesruport2608]

This seems like a nightmare. I can’t even fathom keeping track of this

[@GigaMoonBoy]

This is crazy. Trump please fix this.

[@frankie82265]

Confusion is the nature of the game. Incredibly complex mechanisms allow for more diverse interpretations, the more ways to trip you up.

[@jonathanowens9666]

I'm not paying taxes on shit until it's in my bank account, and that's only if it was a gain. I'm not paying taxes on money I already paid taxes on before it was invested .

[@olegchistyakov3754]

I hope Trump will cancel all those IRS stupid tricks and rules.

[@SergH.]

What if none of us do any of this. wtf will they do about it?

[@DGJunkie]

right lmao

[@Funrunner008]

Mass incarceration, They built a special penal colony just for crypto tax cheats

[@Mishka7v7]

This is confusing. And I didn't get what the heck we need to do... What are our options we have... And the difference between them?

[@MentalWolfTA]

This feel like IRS trying to push people out of crypto

[@BullMarketBandit]

You think

[@soakedbearrd]

Completely ridiculous

[@kevinjohnson3925]

Freedom is awesome

[@kmb04z]

Well… this is gonna be a mess…

[@christinealthaea]

I'd really love to know who sits at their desk and comes up with the most knit-picky and complicated way to do our taxes every year.

[@BlingtingSam]

I hope doge gets rid of this irs bullshit. Off our wallets, ya communist thieves!

[@richardbays1123]

No more wallets that are supposed to be safe for your coins with seed frase, So everything we were taught is now going to be removed. Removed.

[@joshuapitts2915]

Yeah good luck getting everyone to do all the work to needed to comply with this

[@coinledger]

it's gonna be tough...

[@gloriaruns8736]

Only pay taxes when you sell it. So if you just bought a hole for years, you don’t owe anything until you sell it.

[@ashswensen]

What if I sell to go into another coin?

[@Neidheart97]

​@@ashswensen you pay taxes.

[@Neidheart97]

selling crypto or swapping a coin for another, both are taxable events.

[@frankie82265]

Report the gain or loss ​@@ashswensen

[@TheJamestsang]

Flight oversea. And you also lost the wallet.

[@Sumguy79]

Got it, thanks Dan. Glad I’m a coinledger customer

[@brian1355]

No one knows what the hell is going on.

[@pauljoseph7565]

What a nightmare!! What happens if the exchanges that you use went out of business or no longer allow US citizens to access their trade history and cost basis?... Any advice or guidance on this situation?

[@Tchairdjian]

This guy can’t even explain anything clearly even if his life depended on it.

[@greiemsleiem7435]

Who you mean by this guy? To left or right?

[@MLBee123]

I know right! His example of tax loss harvesting seemed backwards and the next example he even fumbled through and messed up and just said you know what I mean. No, no we don’t.

[@timmtimmy3800]

I do not want them to track it. 😂

[@smashtoshismackamoto4746]

Clear as MUD

[@sonnyj.6153]

😂😂😂

[@soonergiant65]

Not even

[@Shynotic]

Of course ADA wallet transactions outside of ADA itself are insanely annoying and difficult to track

[@xxgg]

I am sorry but this video is horrible. I know I am confused but coin ledger guy was bad at explaining and we can clearly see hosts face expressions that he is confused but just goes with it. This is a bad video

[@niki3597]

Yep!

[@ericrankin4666]

My entire reason for having accounts without KYC is so the government doesn’t have their filthy little nose and fingers in my business lol

[@kennethbattaglia2994]

How about zero capital gains from any currency trading period lol

[@cantorbebeto]

When I have gains I will report. Until now only losses

[@coinledger]

Losses can be written off and used to lower your tax bill!

[@josho1778]

How do we even file our crypto taxes? Very confused. Why can't we just file a singular form like we do our W-2?

[@Guinea54]

I mean why is it necessary?? They have it so if you cash out any crypto to cash you have to pay tax on it. They want to know just charge tax on the fkn crypto itself?

[@MLBee123]

I don’t understand how one marks the basis on a transfer in coinbase. I mean I understand you can mark it in apps like coin ledger. But where do you mark it in coinbase or kraken or any of these cex. Doesn’t matter what coin ledger says if the 1099 from coinbase says something else. Seems like they will need to add more UI in order to deliver us a correct 1099. How is that supposed to happen by Dec 31 2024. What a cluster f.

[@EngineerPrepper]

This rule isn't fair to those who bought the top... So if someone who bought at the high lets say 3.10 and held in their daedalus wallet....now they have to move it to an exchange for a cost basis as of now, say Ada $0.90.... if there is a pump up to say back to $3.10..... they will show a profit of $2.20 per coin instead of a break-even? Is this what we are to understand?

[@richardbays1123]

I have other coins that are in the hole. Because I started late 21 now. I now learn something and I have to pay and pay and pay. What a nightmare

[@zandypak1652]

Left more lost and confused.

[@OldSoulNewTricks]

The whole reason I trust listening to you is not just that you’re finally successful but that you bring Good into the equation. I struggled with this but I’m following your lead.

[@Maynardd]

Wait, so you’re telling me I can’t move my bitcoin, from let’s say a ledger, move it to Coinbase, and then sell it? I have to sell it within the ledger wallet? This is confusing.

[@summersunrise6012]

You can move it to the exchange, but unless you bought it there, they will have to consider the cost basis as zero. You have to track your own cost basis then.

[@user-kolba]

Swap to stable coin, move stablecoin to exchange and cashout

[@Maynardd]

@ but for example, if I send $1000 of Solana to, let’s say Jupiter, from Coinbase, which Jupiter is a decentralized exchange, swap that SOL for other coins, then swap it back to SOL after a year or so then send it back to Coinbase. There’s no way they will ever know what I did on the decentralized exchange. How does that work? This is just ridiculous.

[@buckfifty-two-thousand8640]

Never sell or trade

[@Austin-v9o]

This is just to shake people out of crypto, what you say is probably true but not as difficult as you are making it out to be.

[@patrickodonnell9669]

I never sell or trade and I bought all my crypto with my wages that I already paid taxes on so they can jog on

[@ashswensen]

I agree but unfortunately they are a corrupt and evil agency that will stop at nothing to destroy peoples lives to take their money!

[@BullMarketBandit]

You know it's real when this video comes out

[@nelsonriches]

The IRS is about to get gutted anyways. You think they can track all this shit? Nah …

[@TheJamestsang]

Yea...If they are so good at it. Go ahead to help me track my shit. bcz I lost it in a boating accident.

[@NanulSavage]

That's insane! What happens if I buy on new on Coinbase, but then transfer older coin to Coinbase from a cold storage to sell to avoid short term gains. This is going to be a mess, and already is. Best solution is to not tax. :P

[@jackkeegan7957]

Outside of walled gardens, but take a risk buying

[@olheghtt]

Why am I sending myself an email, and what am I putting in that email. Am I supposed to take a picture of something. Am I supposed to send it to the IRS too. All I've done so far is buy on coinbase send it to coinbase wallet and then ultimately send it to a ledger device. I have no gains and no losses. What do they need to know from me.

[@MJ-uw2sb]

Omg me too. For the life of me i am confused and cant figure out im supposed to write

[@olheghtt]

I've watched a bunch of these videos now and they all seem to be the same. They talked like everyone who's watching the video has a working knowledge of accounting and tax reporting. They don't seem to know how to talk in simple language that people can understand. That's my opinion anyway

[@nelsonriches]

I mean, if this expert can’t even explain it in a cogent fashion, then how our investors gonna read this off some form

[@edwardchan3763]

How would you account for transaction history for coins on an exchange that collapsed like Voyager?

[@kasunovinfinity]

What exactly do we have to move to where? I have coins on Coinbase and a Ledger wallet, and some on some other random wallets, smaller amounts.

[@info.dfwbld7263]

For Capital Gain if I have $100 gain this year from my crypto and I have to pay tax on that which I don’t sell this year but next year for my need I sell my coins at loss So how I will tax next year. Doesn’t make sense for taxing when I don’t sell

[@ArisKarywtakis]

Crypto means hidden,it`s a greek word.. Better forget cryptos as they were,regulations came for the "safety" of the users...!

[@NextStopConsciousness]

People don't understand. If they give up privacy for security, they get neither.

[@richardbays1123]

It sounds like I have to sell all my coins to coinbase and then just get out of the business.And I wish there was someone I can get on the phone with that can tell me the truth

[@godblessamerica222]

Huh? 😬🤨 I’m so CONFUSED!

[@MyChannel439]

Dan is drooling over all the $$$ he gonna get off his referral link for this interview... sign up now

[@devenpatel8099]

I have try importing my SOL account from Tangem and Ledger wallet but it’s not importing SOL wallet from either Ledger or Tangem , can you let me know why it’s not connecting to SOL wallet and what I can do to import those wallet in coinledger

[@Derk2k3M1]

Is this guy saying receiving a stacking reward is a taxable event?

[@joshuapitts2915]

It’s considered a capital gain. Cause you are quite literally gaining capital

[@NextStopConsciousness]

Yup every single one you have to go through. It's why I stopped staking on exchanges.

[@Derk2k3M1]

@@joshuapitts2915 Ah, I just looked, the IRS is still in a lawsuit about this...the IRS even offered to negate the amount so the lawsuit wouldn't go forward, but the people using the IRS declines the "payoff".

[@richardbays1123]

I bought a lot of Ada because you believe in it. I'm in a hole. And now I have to pay taxes on transactions. I made back-and-forth trying to get out of the hole.

[@josho1778]

That's why you just hold.

[@MushiMushiwc1uu]

So set your sell targets, and hold until you reach them. The existing laws states any conversion of a coin is a taxable event. Dont blame random youtubers, dont blame Cardano, learn YOUR lession, and hold until $2.30. You only lose when you sell friend. 5-10yrs from now, you'll WISH you could have bought more ADA at any of your DCA. Be brave, you're your own enemy, once you accept that, you can do the opposite of what that bag holder in you wants to, and he's really trying to take your bag bro...

[@MushiMushiwc1uu]

You are absolutely horrible at trading btw, stop doing it and go back to learning. Just bad. Like toddler bad at trading. So was I though. Then i realized that loser within, and did the opposite of those desires. Don't chase the market, dont overtrade.

[@djdicrenzo3908]

This isn’t per wallet this is per exchange

[@TheNikitis]

What if I do my own tax buy and sells in Excel sheet per year and show that to IRS?

[@archiecruz6336]

Nah has to be from the exchange u bought and sold from

[@djdicrenzo3908]

Trump will negate this

[@sangphan09]

Lost my keys. Forgot the codes. What then?

[@hakunamatata4517]

If you transfer your coins from a exchange over to a cold storage wallet hows that work? will you be taxed on the price of the coins at the time you move the coins and once you send them back on the exchange in order to purchase things or exchange for cash?

[@coinledger]

No, transferring coins between wallets you own is not taxable. It's just important to keep accurate records of these transfers so that you can keep track of your cost basis.

[@gloriaruns8736]

What law say you have pay taxes to the irs.

[@mattbeale69420]

Well too complicated so won't be paying any . Didn't claim my losses either

[@Promisedland_garage]

So descentralized was always a lie 😂😂

[@info.dfwbld7263]

I’m trading 50-60 coins for last few years selling one for buying another one and growing my portfolio. So how do I do wallet base statement & I have coinbase & kraken account

[@jakelenz8354]

Do you only report gains when you transfer your earnings from your crypto account to your bank account?

[@jeffgyamfi1653]

Yes I'm also curious as I've been told so many random things which if true the money I have in my wallets are worthless as I've traded so much I've traded my self out of money..... Even though the balance shows up

[@coinledger]

No - anytime you incur a taxable event: - trade one crypto for another - sell crypto - use crypto to buy goods or services

[@ashswensen]

@@coinledger 😳

[@oscarortega6781]

Does this only apply to coins bought in 2025? Example: if I bought the coins in 2024 but sell in 2025...does this apply even though the coins were bought before this irs change

[@ryantuteur5659]

It applies to ALL coins purchased before this law went into effect so if you bought coins in Coinbase in 2020 and moved it over to Kraken cause you didn't like Coinbase for some reason, you would need to move the coins back to Coinbase before 12/31 (or sell them on Kraken before 12/31). Not financial advice.

[@coinledger]

Yes - it will apply to outstanding coins held, even if bought prior to 2025.

[@oscarortega6781]

@coinledger to my understanding., all I need to do before jan is declare what method I'm going to be using? Do you have examples?

[@uraschrock1916]

Hey, enjoyed the presentation! Been listening to you, Dan for a long time! I have a coin ledger account, but I haven’t paid for a subscription. Would I need to pay for a subscription in order to get much of benefit from this? Thanks

[@Dawmdawmbo]

trump and his henchmen billionaires gonna use all yo taxes lol

[@CindyAlexius]

Is this another reason crypto bros voted this administration out?

[@scottytullis9724]

this is so confusing!

[@user-g6f6g7bby]

Abolish the irs

[@XavierRivera]

Shut them down

[@MushiMushiwc1uu]

This guy is just wrong and bad. I'm not keeping my coins on multiple exchanges. It's not happening 😂😂😂 Nor am i declaring what I purchased and have stored in my wallet!

[@JoanneGreene-g4q]

I realized that the secret to making a million is saving for a better investment. I invested 30k in crypto and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million.

[@jasons2562]

Trump admin needs to fix all this BS

[@maingameseru1415]

Bro, pepe halving !

[@jacksmachine1874]

Crypto is such a scam. Im sick of all this work when the gains are so dimished now due to all the scammers and grifters in this space. The rich people always ruin everything. Adter this cycle im done with this scam.

[@Jeffbajan]

Bitcoin is 100k how is it a scam just don’t invest if u don’t know what u are doing clearly u don’t

[@LoveliestGoddess]

This is too much. Do your job come find me 🤣 jk

[@WealthyChronicle]

This is a game-changer for crypto investors. Is anyone else as stressed as I am about tracking gains per wallet? 🙄

[@timc3937]

What if the centralized exchanges you were using far in the past are closed down and you have no access to transaction history.........how much of a problem is this?

[@innerpull]

Even the ones that have closed down are required to provide the data. I ran into that with BlockFi and Celsius last go-round.

[@coinledger]

Recommend you email them stating that you need your transaction history for tax purposes. Most of the time this works. If it doesn't, you should do you best to try to estimate what happened on that platform from an accounting records perspective. It may be worthwhile to discuss your specific circumstances with a crypto tax professional.

[@jcdenton7914]

​@@coinledger Bittrex doesn't have any contact left

[@dsanti4069]

Delete this

[@KevinSolley-tk8rm]

Trump

[@bracciaschanze]

Thanks for sharing. Financial education is crucial today to demonstrate incredible resilience and discipline in a volatile market, masterfully balancing strategy and insight to achieve success. This dedication to continuous learning is inspiring... managed to grow savings from about 100k to a decent 340k in a few weeks... I am especially grateful to Aaron Charles whose deep experience and traditional trading acumen have proven invaluable in this complex, ever-changing financial landscape.

[@CryptoSeven7]

First

[@coinledger]

👊