[tw04]

So you're an accountant, or a tax lawyer? If not you might want to give that a massive, giant, IANAL because that's not even remotely accurate. So wrong in fact, the IRS specifically calls out the fact that vehicles are not exempt from gains taxation.

https://www.irs.gov/newsroom/like-kind-exchanges-now-limited...

>Effective Jan. 1, 2018, exchanges of personal or intangible property such as machinery, equipment, vehicles, artwork, collectibles, patents, and other intellectual property generally do not qualify for nonrecognition of gain or loss as like-kind exchanges.

[capableweb]

> So you're an accountant, or a tax lawyer? If not you might want to give that a massive, giant, IANAL

No, I'm not and I don't need to disclaim what my profession is either. What is with the internets obsession about "IANAL"? Isn't it more proper to assume that someone is NOT a lawyer, accountant or whatever if they don't say anything, than the opposite? (Irony is that you failed to add "IANAL" to your comment, should I assume you're actually a lawyer?)

Sure, IRS might act like that but not every country, and if you read my comment again you see that my view is broader than just the IRS.

[tw04]

>No, I'm not and I don't need to disclaim what my profession is either. What is with the internets obsession about "IANAL"? Isn't it more proper to assume that someone is NOT a lawyer, accountant or whatever if they don't say anything, than the opposite?

Because it's common online etiquette. Just like when the countless google or amazon employees that hang around HN comment on google or amazon stories, they give the disclaimer: I work for google/amazon.

>Sure, IRS might act like that but not every country, and if you read my comment again you see that my view is broader than just the IRS.

I do see you made a blanket statement that was easily disproven for the US, and at no point did you say that the US wasn't included in "most countries". So exactly which countries are you referring to, and can you provide a citation to the relevant tax authorities for those countries that you referenced when making your original claim?

[dogma1138]

It’s not the just the IRS it’s every tax authority on the planet, you can no more buy a Tesla with bitcoins without triggering a capital gains assessment then you can buy a house from someone by trading in your stock portfolio without accounting for capital gains.

Crypto just makes it easier for the time being because the transaction are not as well regulated or tracked as stocks or other valuable assets.

Fine art is constantly used for example for under the table deals but we have a name for it - tax evasion.

If you bought Bitcoin for £1000 and now it’s worth £100000 if you want to buy something for £100000 you can buy you also need to pay capital gains tax on £99000 worth of gains.