How will Sweepcash be taxed in the US in 2024?
Plus
5
Ṁ6169Jan 1
94%
Redemption to USD will be taxable (ordinary income)
86%
Withdrawal to USD will be taxable (ordinary income with purchase deductible)
5%
Every transaction will be taxable (ordinary income)
5%
Redemption to USD will be taxable (capital gain)
3%
Every transaction will be taxable (capital gain)
2%
No taxation
Resolves based on the most credible legal advice available at the end of the year.
This question is managed and resolved by Manifold.
Get
1,000
and3.00
Sort by:
@SirSalty purely to understand resolution criteria, could you clarify what "purchase deductible" means? Does this mean if you spend $5000 to buy sweepcash you could deduct that amount from your income as an expense? So if I then withdraw $5000 (net of fees) I result in net zero income taxes?
sold Ṁ141 YES
please don't rename options after people bet on them! or at least flag that if you do
Related questions
Related questions
How many times will we freeze sweepcash trading this year?
Will a sweepstakes market resolve to a partial percentage in 2024?
9% chance
When will Canadians first be able to participate in Sweepstakes markets?
Will I be able to create a Sweepcash market by 2026?
85% chance
Will Manifold add back <1 Sweepcash trades in 2024?
21% chance
Will Manifold decrease or increase the redemption rate for sweepcash in 2024 (for redemptions of at least 𝕊1000)?
Will Sweeps trading get frozen again by the end of 2024?
15% chance
How many US states will Sweepstakes be available in by the end of 2024?
Will capital gains taxes on cryptocurrencies issued by U.S. companies be eliminated before 2026?
27% chance
Will Sweepstakes betting be available in Canada by April 1st 2025?
38% chance