Tax Loss Selling in Bitcoin Ep. 32
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 10 December 2014
⏱️ 21 minutes
🧾️ Download transcript
Summary
* In 2014 Bitcoin was the worst-performing financial asset
* Spending bitcoins triggers a taxable event
* Spending or selling at a loss also reflects on your taxes
* This holiday season, harvest tax losses while shopping
* Write-off could exceed value of gift
* You can also buy bitcoins back at a savings from original cost if you wait 30 days
* Buy Gold and Silver while harvesting tax loss
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Transcript
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| 0:00.0 | The Peter Shifchow. |
| 0:08.8 | Before I get into the topic for this particular podcast, I want to welcome everybody listening |
| 0:14.2 | on Voices of Liberty. |
| 0:16.2 | The Peter Shifchow podcast is now one of the Voices of Liberty. |
| 0:20.2 | And if you don't already know about Voices of Liberty, let me encourage you to check it |
| 0:24.2 | out. |
| 0:25.2 | Voices of Liberty is a platform amplifying the message of Liberty from both established |
| 0:29.7 | leaders and up-and-comers in the Freedom Movement. |
| 0:32.8 | They regularly cover topics like police militarization, the war on drugs, Obamacare, Austrian |
| 0:38.5 | economics, Internet freedom, and libertarian principles. |
| 0:42.3 | Liberty is spreading like wildfire, hopefully, in the United States. |
| 0:45.3 | And the Voices of Liberty is helping to get the message out there. |
| 0:48.9 | So check them out, VoicesOfLiberty.com, which now features the Peter Shifchow podcast. |
| 0:55.0 | And I wanted to talk a little bit about Bitcoin, an angle that I don't really think anybody |
| 1:01.1 | has mentioned. |
| 1:02.7 | And that is tax law selling. |
| 1:06.0 | And tax law selling has not been something that maybe the Bitcoin community has got to deal |
| 1:11.5 | with in the past because up until this year, really nobody had a loss in Bitcoin because |
| 1:16.6 | Bitcoin was only going higher. |
| 1:20.0 | Well, in 2014, Bitcoin was about the worst performing financial asset on the planet. |
| 1:27.6 | The Bitcoin started the year just above 800. |
| 1:32.0 | And as I'm recording, the price is 350. |
... |
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