Bitpay card dead

[JDS]

From what I understand if you sell any Bitcoin you will get a 1099-B. Sending / receiving does not generate a form

So you haven’t sold any of your receiving bitcoin profits ever ? Why you gotta give me such a generic answer that I can get from their website …

 

[JDS]

I wanted a more personal experience example @BobbyFK. If you are not comfortable with doing that, then just say so, and I will respect that.

 

[JDS]

My point is the great thing about BitPay from my experience if you keep the transactions under 20,000 or 200 transactions. They will not generate a tax form simple as that.

 

[carolinakid]

coinbase has one too, i have it but never have use it

 

[BobbyFK]

So you haven’t sold any of your receiving bitcoin profits ever ? Why you gotta give me such a generic answer that I can get from their website …

no I have sold from them and they gave me a tax form

 

[JDS]

no I have sold from them and they gave me a tax form

Yeah no thank you I will not use them. You probably didn’t even have a net profit on your buys and sells & they generated a tax form. Or can you offset your net loss on the tax form, I’m not familiar Bobby, I’m trying to learn something here.

 

[BobbyFK]

Yeah no thank you I will not use them. You probably didn’t even have a net profit on your buys and sells & they generated a tax form. Or can you offset your net loss on the tax form, I’m not familiar Bobby, I’m trying to learn something here.

No I had a net profit on what I bought versus what I sold. I made some money on the Bitcoin

 

[JDS]

No I had a net profit on what I bought versus what I sold. I made some money on the Bitcoin

Ok last question, have you ever had a net loss in a calendar year where they still generated a tax form ?

 

[JDS]

@BobbyFK i didn’t know you were a trader lol thought you just used it for gambling.

 

[BobbyFK]

@BobbyFK i didn’t know you were a trader lol thought you just used it for gambling.

No I had some awhile back and held onto it until it made some money

 

[BobbyFK]

Ok last question, have you ever had a net loss in a calendar year where they still generated a tax form ?

Not that I can remember