With Bitcoin almost hitting 100k, what are your thoughts and is it worth buying now because it'll only go up from here? Or will their be a dip opportunity?
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how the hell are you supposed to pay taxes on that bitcoin that was earned as interest on that cash through River financial? that seems cool but i just don't want to deal with taxes tbh.
I'm wondering about the unrealized gains on his purchase. Say if BTC goes to $200K and was purchased at $75K, then at the end of the year there will be unrealized gains. Yet, I suppose, next year if for some reason tanks to $1k, will he get a tax break on unrealized LOSSES?
Maybe it will work like mutual funds. I have a mutual fund in a brokerage account that re-invests gains to buy more shares, I only pay taxes or that re-investment amount.
Yes you do have to pay taxes on it. River calculates the tax documents for you, I remember when I did last year's taxes, you were asked about crypto.