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do you bros keep a record of all of your crypto trades for tax records

...
Swashbuckling Puppy
  01/06/18
the exchanges list them all in your history
Lime Bat-shit-crazy Blood Rage Double Fault
  01/06/18
liqui only has recent trades
Confused appetizing dog poop psychic
  01/06/18
starting to - pain in the ass printed out transactions fr...
Confused appetizing dog poop psychic
  01/06/18
what if you use non-US based exchanges
Topaz Fighting Death Wish
  01/06/18
im still doing it fraud penalty is 75% much better to ...
Confused appetizing dog poop psychic
  01/06/18
CR. i'm just gonna err on the side of caution and pay the 37...
Lime Bat-shit-crazy Blood Rage Double Fault
  01/06/18
what if you never cash out
Green Histrionic Nursing Home
  01/06/18
Coin to coin transfers need to be tracked.
Iridescent Metal Stain Becky
  01/06/18
i think there's a proposal in congress to change it so you j...
Lime Bat-shit-crazy Blood Rage Double Fault
  01/06/18
That makes the most sense, but for 2017 you have to do the s...
Iridescent Metal Stain Becky
  01/06/18
...
Confused appetizing dog poop psychic
  01/06/18
hodl till jan 1, 2019, i guess
Lime Bat-shit-crazy Blood Rage Double Fault
  01/06/18
Yes. Just do commit a federal felony after 1000% gains.
Iridescent Metal Stain Becky
  01/06/18
then get penalized 75% on those gains plus late fees and int...
Confused appetizing dog poop psychic
  01/06/18
so ur only a multi-billionaire instead of a trillionaire ...
Lime Bat-shit-crazy Blood Rage Double Fault
  01/06/18
yeah fuck all that. i used coinbase to buy roughly 25k of bi...
beady-eyed carmine antidepressant drug
  01/06/18
CR. I used coinbase to buy all my ETH. And I'm transferring ...
Iridescent Metal Stain Becky
  01/06/18
how do you account for eth that gatormo sent to your mew wal...
stirring mahogany newt
  01/06/18
I'm no taxmasterman, but I assume that is a gift which you d...
Iridescent Metal Stain Becky
  01/06/18
ty
stirring mahogany newt
  01/06/18


Poast new message in this thread



Reply Favorite

Date: January 6th, 2018 3:04 PM
Author: Swashbuckling Puppy



(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096217)



Reply Favorite

Date: January 6th, 2018 3:05 PM
Author: Lime Bat-shit-crazy Blood Rage Double Fault

the exchanges list them all in your history

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096221)



Reply Favorite

Date: January 6th, 2018 3:08 PM
Author: Confused appetizing dog poop psychic

liqui only has recent trades

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096248)



Reply Favorite

Date: January 6th, 2018 3:05 PM
Author: Confused appetizing dog poop psychic

starting to - pain in the ass

printed out transactions from coinbase, exchanges, etc. and trying to recreate an excel

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096225)



Reply Favorite

Date: January 6th, 2018 3:07 PM
Author: Topaz Fighting Death Wish

what if you use non-US based exchanges

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096246)



Reply Favorite

Date: January 6th, 2018 3:09 PM
Author: Confused appetizing dog poop psychic

im still doing it

fraud penalty is 75%

much better to make up/guess a gain for every exchange you use than have IRS claim you failed to report one completely. much easier to argue fraud that way

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096253)



Reply Favorite

Date: January 6th, 2018 3:12 PM
Author: Lime Bat-shit-crazy Blood Rage Double Fault

CR. i'm just gonna err on the side of caution and pay the 37% or w/e it is

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096275)



Reply Favorite

Date: January 6th, 2018 3:16 PM
Author: Green Histrionic Nursing Home

what if you never cash out

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096289)



Reply Favorite

Date: January 6th, 2018 3:17 PM
Author: Iridescent Metal Stain Becky

Coin to coin transfers need to be tracked.

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096299)



Reply Favorite

Date: January 6th, 2018 3:18 PM
Author: Lime Bat-shit-crazy Blood Rage Double Fault

i think there's a proposal in congress to change it so you just report it as gross income and pay the standard % on your EOY gains, no matter how many coins you traded

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096310)



Reply Favorite

Date: January 6th, 2018 3:20 PM
Author: Iridescent Metal Stain Becky

That makes the most sense, but for 2017 you have to do the shitty way.

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096322)



Reply Favorite

Date: January 6th, 2018 3:20 PM
Author: Confused appetizing dog poop psychic



(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096324)



Reply Favorite

Date: January 6th, 2018 3:20 PM
Author: Lime Bat-shit-crazy Blood Rage Double Fault

hodl till jan 1, 2019, i guess

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096328)



Reply Favorite

Date: January 6th, 2018 3:16 PM
Author: Iridescent Metal Stain Becky

Yes.

Just do commit a federal felony after 1000% gains.

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096291)



Reply Favorite

Date: January 6th, 2018 3:17 PM
Author: Confused appetizing dog poop psychic

then get penalized 75% on those gains plus late fees and interest, ljl

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096303)



Reply Favorite

Date: January 6th, 2018 3:19 PM
Author: Lime Bat-shit-crazy Blood Rage Double Fault

so ur only a multi-billionaire instead of a trillionaire

J/K. chances are we could be deducting this shit from our tax bill if the market crashes

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096317)



Reply Favorite

Date: January 6th, 2018 3:24 PM
Author: beady-eyed carmine antidepressant drug

yeah fuck all that. i used coinbase to buy roughly 25k of bitcoin throughout last year based on my bank records. this year i hope to cash out a much bigger number and deposit it into the same account. i will calculate my gain as the money i deposit this year minus the money i took out last year. easy. i’ll even pay the short term cap gains rate to be safe (though if the irs doesn’t clarify whether coin for coin exchanges get like kind exchange treatment in 2017, i may treat them as such and wait to hear otherwise)

i will happily take the chance that some irs person in the future asks about the incremental gains and losses on my millions of coin for coin trades. this obviously means i won’t report anything for 2017 since i haven’t seen a dollar of cash from cryptos

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096358)



Reply Favorite

Date: January 6th, 2018 3:32 PM
Author: Iridescent Metal Stain Becky

CR. I used coinbase to buy all my ETH. And I'm transferring ETH back to CB to cash out. They have solid instant reporting and I'm not trying to hide shit. People shit on CB and I get it, but it's so much easier to have the same entry and exit point.

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096410)



Reply Favorite

Date: January 6th, 2018 3:34 PM
Author: stirring mahogany newt

how do you account for eth that gatormo sent to your mew wallet

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096430)



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Date: January 6th, 2018 3:36 PM
Author: Iridescent Metal Stain Becky

I'm no taxmasterman, but I assume that is a gift which you don't have to report.

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096438)



Reply Favorite

Date: January 6th, 2018 3:51 PM
Author: stirring mahogany newt

ty

(http://www.autoadmit.com/thread.php?thread_id=3851378&forum_id=7#35096528)