>He day trades
>Doesn't keep a detailed log of crypto to crypto transactions for taxes
Uh oh
He day trades
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you keep a transaction log for your pogs, beanie babies and magic cards? fuck no.
fuck outta here with that jew shit.
you think the fucking baby boomer soccer mom at the tax office give a shit, theyre just ganna tax you on what you eventually bring into your country from offshore
I love how they claim crypto is a meme like those but they sure as fuck want their tax money from it don't they
What is Binance trade history? Also I'm manually logging every move I make on blockfolio. Yes, it's tempting to meme myself 30M TRX for screenshot purposes but I'm staying black and proud.
When I finally do cash out I'll have it all laid out
>(profit - initial investment) * tax rate
Man that was easy
From what I've gathered, just the Binance history isn't enough by itself. You also need the fiat price of the coin at the time of the transaction?
Luckily I live in a good country where crypto to crypto isn't taxable
I made this thread because I'm honestly scared and not sure how to log shit. I just have an Excel sheet documenting every coinbase purchase (how much purchased at what price on what date) and each alt coin purchase. I'm only investing in long holds right now because I feel like I'd fucking lose track of everything if I started doing a ton of crypto to crypto trades.
>not operating all your business from an offshore trust