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As a H1B employee am i allowed to do crypto day trading. Not
Hi As a H1B employee am i allowed to do crypto day trading … read more
Dr. Fiona Chen
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How do I file capital gains? I have no income and I invested my inheritance. It is in cryptocurrency. … read more
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I started traded cryptocurrency started this January. Please
I started traded cryptocurrency started this January. Please explain how cryptocurrency trading tax return filing. I lost a lot of money but I hear that I still have to file tax return and need to pay… read more
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I had some questions about cryptocurrency. I bought
I bought cryptocurrency in 2017 i started with 1070 investment and traded my bitcoin for other coins, and those coins for others, etc over 1000 times at the end of 2017 i had about 11k worth then in 2018 i decided to pull all my profits out leaving with 8800 is it possible just pay gains on the actual cash profit i realized ($8800-$1070) … read more
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I have a question about coinbass (buying bitcoins) I heard I
I have a question about coinbass (buying bitcoins) I heard I need to fill out the tax for income. But when I buy the coin and send it to another foreign company, and I get no income (money) for that y… read more
Lane
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Lets say I purchased a cryptocurrency “A” in late 2017. Then
Lets say I purchased a cryptocurrency “A” in late 2017. Then traded it to a different cryptocurrency “B” in December of 2017. I then held onto that currency into 2018. The value in US dollars went up … read more
Lev
Lev
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Confused on claiming Professional gambler status. I have a
I have a W2 job, but also gamble via sports betting. I live in Ohio which doesn't allow me to deduct my losses unless I'm a professional gambler. Gambling is not my primary source of income but I do engage in it professionally. Is the primary income required to be qualified as a professional gambler? … read more
Tax.appeal.168
Tax.appeal.168
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I read a recent query on your site of an individual asking
Hi Tom,I read a recent query on your site of an individual asking whether a £25,000 gift was taxable. Your response detailed that essentially it is not, with the provision the following conditions of … read more
Lane
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Doctoral Degree
29,980 satisfied customers
I am currently on H1B Visa. 1. I wish to know if I can trade
Hello, I am currently on H1B Visa. 1. I wish to know if I can trade cryptocurrency (Buy/Sell Bitcoin or any other cryptocurrency) being on H1B Visa. 2. Also, if I trade cryptocurrency for any other cr… read more
Matthew Breecher
Matthew Breecher
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The only income I made in 2017 came from poker winnings. I
The only income I made in 2017 came from poker winnings. I played poker for some of the year and traveled the rest. I also contributed 5500 to my Roth IRA as I have the past four years. How should I f… read more
Megan C
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My parents (Indian citizens) are planning to divide their
Hi! My parents (Indian citizens) are planning to divide their inheritance among their children. I am one of them. This inheritance is abroad. As I understand if I sold that inheritance I have to pay c… read more
Robin D.
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I have been trading years to gain a profit but have made
i have been trading for 2 years to gain a profit but have made losses from trading with IG markets (CFD's). Am i able to claim these losses against my capital gains?… read more
Robin D.
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I always take the standard deduction. I won 4000.00 at a casino.
I always take the standard deduction. I won 4000.00 at a casino. I also lost 4000.00. The only place I can report the gambling losses/winnings is on schedule A and that would require itemizing and tha… read more
PDtax
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I made a fair amount of money in poker tournaments Last year.
I made a fair amount of money in poker tournaments Last year. Spent a lot to make it also. Someone said you can write off all milage and hotels for your earnings. Is this true? Also how does it work w… read more
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Doctoral Degree
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Win/loss for slot gambling is ($58,411.17). How much of this
Win/loss for slot gambling is ($58,411.17). How much of this can be claimed? What other means in gambling can be claimed? I played continuously for one year and I think I would be considered a profess… read more
Megan C
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I supplement my income from horse racing, both telephone accounts
I supplement my income from horse racing, both telephone accounts and bookmakers (high street and on the rails) plus casino winnings and private games of poker/cards on a regular basis. I am a member … read more
Merlo
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Dr. Green is a practicing physician in Chicago who travels ...
Dr. Green is a practicing physician in Chicago who travels to Las Vegas every other weekend to gamble. He would like to know what criteria are used to determine whether his gambling activities constit… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
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how or what is the most ironclad way to be classified
How or what is the most ironclad way to be classified as a professional gambler in the eyes of the IRS? In other words , I want to make sure that I cant be classified as a casual or recreational gambl… read more
Lev
Lev
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