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  1. Mike Johnson

    Tax implications of crypto gambling losses?

    Thanks everyone, sounds like I need professional tax help for this situation. I guess It'd be better to research tax implications before gambling with crypto lol
  2. Mike Johnson

    Tax implications of crypto gambling losses?

    So if I understand right: Convert BTC to gambling = taxable event (capital gain/loss) Gambling losses = only deductible against gambling wins So I'd potentially have TWO tax impacts?
  3. Mike Johnson

    Tax implications of crypto gambling losses?

    Kind of complicated tax situation. Bought 1.2 BTC in 2021 at $35k average. Used 0.8 BTC for gambling on various sites in 2024, lost it all. Original 0.8 BTC cost basis was about $28k. Now for taxes, can I: Claim $28k gambling loss against other income? Claim crypto capital loss? Both? Neither...
  4. Mike Johnson

    VIP programs worth it? (Roobet vs Stake)

    VIP host on Stake actually contacts you personally with custom offers. Roobet just automated bonuses that usually have crazy wagering requirements
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