How the FUCK are you supposed to report taxes on shapeshifted coins? SHAPESHIFT DOESNT KEEP ANY RECORDS.
AAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHH REEEEEEEEEEEEEEEE
SHAPESHIFT + TAXES
Kayden Hughes
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Easton Green
If they don't keep records how would the gubmint know?
Carter Morris
>Buy 10 bitcoin through coinbase
>Cash out 15 bitcoin through coinbase
>user, I see you cashed out 5 more bitcoin than you have bought, can you explain?
>uhh.. I used this thing called shapeshift it allows you to trade crypto to other cry..
>But user, I don't see you have recorded any of these transactions on your taxes
>Thats because shapeshift doesnt have recor...
>user, report to jail at 8 am tomorrow.
Dylan Young
watever u cash out
report efverything, even when u shapeshift, move coins to another exchange, you gotta cash out eventchualy
because whne u cash out they be like uhhh you bought 10 bit corns, why u got 16 bit corns now, u gotta pay taxes
Isaiah Lopez
I mean the worst case scenario is the IRS makes you pay short term capital gains on 0 cost basis, not jail.
Jace Adams
If you record your shapeshifte transactions you're a fucking retard.
Kevin Ramirez
It was gifted to you from a random address.
Nathaniel Wilson
ur cute
Justin Sanchez
>it was gifted to me from a random address
>ok user that sounds believable, turn over everything bitch you are under audit
Brayden Sullivan
Just report the value you cash out. Worry about individual transactions if you get audited, which most likely won't happen.
Jayden Russell
Kek
you’re welcome
Sebastian Young
You send one crypto from your wallet to anther crypto wallet...
You wallets can usually access the blockchains.
Also Crypto to Crypto exchange is a non-taxable event for most people.
Unless you are a pajeet shill or work at an exchange you really don't have to worry about it.
William Evans
IRS?
More like gay are us
Nathan Edwards
>SHAPESHIFT DOESNT KEEP ANY RECORDS
Eli Morales
>gifted
Listen to yourself
If you are claiming it was gifted you a putting a zero dollar taxable basis on your crypto.
Literally paying the IRS the most you can pay.
They ain't going to audit you for paying MORE than you have to.
Josiah Bailey
>tfw in Germany and I have never paid a dime on any of my cashouts
Jaxson Reyes
How will the precious refugees get their gibs though?
John Watson
Report it how? Where? There's no form that asks you "lel how much u "cash out?"
Aiden Rodriguez
>Also Crypto to Crypto exchange is a non-taxable event for most people.
It will be in the US starting 2018 thanks to Donald kikelover Chump
Owen Hall
Reporting as in your capital gains? Cash out value minus initial investment.
Jace Jackson
>Report it how? Where? There's no form
Schedule D of the 1040
Brody Hernandez
Says (((bloomberg)))
I have my doubts
Anyway if true that will be for 2018 not this year's taxes.
Chase Perez
They don't accept that form by itself. It says totals for all transactions reported on either Form 1099-B or Form 8949.
You have to fill out the date of every trade, how many shares, cost basis, gain or loss. If you just put your initial investment and final cash out there, it would result in inconsistencies and it would be tax fraud.
Brody Cook
For 2018, crypto was ruled that every trade is subject to capital gains.
Do you think for 2017 that like-kind is possible (section 1031)?
Noah Barnes
I KNOW. I'm saying you have to report every trade AND pay taxes for every trade. They don't let you just sum it all up and pay a percentage.
Nicholas Miller
Can't you just shoot the taxman?
Jace Gomez
Just don't be a faggot and do not pay taxes.
Julian Myers
>cost basis
I ain't reporting that
>How much you pay for that 10k of BTC you sold
>calculate buying in 2014 trading for LTC then BTC then ETH then LTC then BTC...
>$17 and 84.8328972356902836589263586 cents
Fuck that.
What is the point?
I will just claim i got it from a faucet back in 2011 for free.
Jonathan Reyes
You don't, fuck retardad.
Just don't declare.