Subnostr

5c077d22

5c077d2239589bdbc9f244d99c1f427c00ef12f6c00bfa78fbaac8c3b285f689

Sounds like tax software to not use, or to edit the report it generates.

This is also how an IRS agent will make a determination on the taxes you owe unless you trace the coinjoin for them (if you get audited).

Replying to

The Daniel 🖖

We’re talking about the ability to confiscate.

5c077d22... 2y ago

The IRS can just say you owe them a large some of money if they don't like your transaction history, but assuming don't have any trades then they can't confiscate your net worth.

Replying to

₿logging₿itcoin

So true. My property taxes cost more than rent I paid for college housing. The state is my landlord. The Credit Union just wants the money they printed back, with interest.

5c077d22... 2y ago

According to the IRS, you can't trade your bitcoin without paying taxes. So now we are just arguing about which one is taxed more.

Replying to

Alan Siefert

Coinjoining during low fee environments kind of takes care of this as a benefit additional to privacy. You tend to end up with larger-size post-mix UTXOs with the change being the (presumably small % of your stash) area to worry about future spendability.

5c077d22... 2y ago

My tax software would read my transaction history and see a capital gain when entering the coinjoin and then as income when exiting the coinjoin (assuming the value is directed back at me)