Apparently you can deduct up to $3,000 on a loss. The percentage of taxes you would owe on the rest is... I'm pretty sure 15%.
My problem is that I have about $32,000 end of 2017 in profits (on paper) that I owe taxes on this year (short term taxes).
Then those profits spiked up to $50,000+ in early January (on paper) and now my profits are currently at...
4 figures lets just say...
And I'll owe (short term) taxes on those $50,000+ "profits" next year as well. That is partially what is making me want to eat lead at the moment.
Worst mentioning that your cost basis for Jan 1 2018 will be whatever the cash value of your last trade in 2017. So if you realized 50K in profits in 2017, you're probably good for 2018 (tax wise anyway).
My (wo)man (shosta) has nodules on her thyroid as well. They always check them out and it's always nothing. Might also want to check into like reflux or some shit.
good news is none of that will stop you from deepthroating.
As long as you cashed out for fiat at in 2018, I believe you should be ok for the 50K, so like you “made” 50K, but in a subsequent text you “lost” $45K and you will only owe on the $5k difference.
Unless you bought back into the same coin within 30 days and violated the wash sale rule.
The $3k deduction I believe only applies to offsetting losses in future years. So for example, if you overall lost money in 2018, and you realized $30k in losses, you can deduct $3k from future asset earnings each year for the next 3 years (I.e I think this ONLY offsets stocks, bonds, and I guess crypto, and not your normal wage slave income).
