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Re: ap17 post# 21255

Thursday, 12/10/2020 8:09:09 PM

Thursday, December 10, 2020 8:09:09 PM

Post# of 37001
Its a solid point as Ive been thinking this as well. Only $3k is allowed a year which I know Ill have in losses and can use that as well. My CPA told me again to grab as much as I can (lol, he’s nuts) as the tax will not be as much as I think so I gave him a scenario. I explained if FXRP was trading at a few pennies at time of the first drop (.06) and the value of ones 15% equaled $7500 then how much in taxes would be due? He said for Federal and State it would equal $1800. Thats not much especially with previous losses. Granted this is only for the first drop but hard to say what the other drops will come out to in regards to tax as it will depend on the price of FXRP at the time of each drop.
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