All Forums | General Discussion

Noob tax question

...

Participants:

Posts: 8

Cwalt664

Prospect

Joined: Jan, 2016

Posts: 1

Posted: Jun. 20, 2016 - 5:38 PM ET #1

I know I'm going to get allot of hate on this.... But! I made around 20k on nitrogen, I withdraw to local bitcoin, and withdraw using cash in mail option.... Now for the real question is... How do I claim this on taxes, I live in MD not sure if it's legal or illegal, but I don't want to get arrested for claiming it on my taxes. HELP. Please(:

nature1970

Hall of Fame

Joined: Jan, 2015

Posts: 21593

Posted: Jun. 20, 2016 - 5:54 PM ET #2

For you to laundry this money with a clean 50% return buy every combination in a pick 3 lotto from 000-999 it takes a little work making out the tickets divide the 20000 into a 20000 make each bet for one dollar. Collect the 20 winners under from the state and pay the tax without any further involvement.or go to Dover downss twenty times buy a white chip play one game at the end pile the chips up blacks greens ect take the wg1099 and have a nice day.

nature1970

Hall of Fame

Joined: Jan, 2015

Posts: 21593

Posted: Jun. 20, 2016 - 6:47 PM ET #3

Of the two buy a two racks of five chips place a bet of min on the bet and the plus factor around 3 continue to play if a win with the houses money taake remaining chips and color up att the end day twenty one bring back their chips they will do a 1099 form the feds. Will be paid when you do your taxes simple I got on a hot are streak at Dover. Such a modest sum it will float. Good luck.

thecentaur

Banned

Joined: Mar, 2012

Posts: 2049

Posted: Jun. 20, 2016 - 10:50 PM ET #4

Quote Originally Posted by nature1970:

For you to laundry this money with a clean 50% return buy every combination in a pick 3 lotto from 000-999 it takes a little work making out the tickets divide the 20000 into a 20000 make each bet for one dollar. Collect the 20 winners under from the state and pay the tax without any further involvement.or go to Dover downss twenty times buy a white chip play one game at the end pile the chips up blacks greens ect take the wg1099 and have a nice day.

Did you just tell someone to launder untraceable income by buying lottery tickets?

thecentaur

Banned

Joined: Mar, 2012

Posts: 2049

Posted: Jun. 20, 2016 - 11:00 PM ET #5

Quote Originally Posted by Cwalt664:


I know I'm going to get allot of hate on this.... But! I made around 20k on nitrogen, I withdraw to local bitcoin, and withdraw using cash in mail option.... Now for the real question is... How do I claim this on taxes, I live in MD not sure if it's legal or illegal, but I don't want to get arrested for claiming it on my taxes. HELP. Please(:
	Posted using a mobile law enforcement device.

We have no idea how to do such illegal things here officer

MullerRose

Prospect

Joined: Jun, 2016

Posts: 192

Posted: Jun. 21, 2016 - 9:59 AM ET #6

Talk to the police. They might have answers for you. duh!

666LES

Veteran

Joined: Dec, 2006

Posts: 4321

Posted: Jun. 21, 2016 - 2:27 PM ET #7

Nitrogen is a ........drug,exchange,betting option,an off-shore???

Withdraw to bitcoin and then withdraw cash by mail,during all the transactions when and how did you file a W2G or were you required to to give your SS#?

If there was no W2G or SS# given,nobody knows what you got,where you got.or how you got.

Proceed as if this $ was found in the dark.

IsaiahLegros

Prospect

Joined: Jul, 2016

Posts: 3

Posted: Aug. 24, 2016 - 1:49 AM ET #8

Collect the 20 winners under from the state and pay the tax without any further involvement.or go to Dover downss twenty times buy a white chip play one game at the end pile the chips up blacks greens ect take the wg1099

good point

csgo4sale.com

All Forums | General Discussion

Noob tax question

Hot Forum Topics