tax question for anyone who knows how to do this shit.
I'm using bitcoin.tax to file my taxes. I made around 85k in profit after adding all the exchanges to it but there's a few things I need to know
>how do I add exchanges that don't have CSV files like Yobit or Liqui.io? Can I use the API keys somehow to transfer all the trade history?
>whats the point of picking FIFO when it makes me owe more?
>I should be picking Like-Kind exchange, correct? It makes the process much simple and should be in effect for 2017, no?
Thank you in advance taxbros.
Camden Wright
bump
I need to file this soon, someone please help
Kevin Morales
double bump
Jeremiah Rivera
bump
Hudson Edwards
lol u goin 2 jail
Joshua Barnes
Why are you meme-ing friendo? I need help with this/
Jaxon Sullivan
I had a 50 dollar discrepancy and am facing 6 months in prison now. They're cracking down hard.
Nicholas Bennett
If you don't do FIFO IRS will audit the shit out of you, and like kind is also an instant audit because it was never allowed, not even in 2017.
Wyatt Lee
Eyo, I'm the OP of that previous tax thread.
I don't know the specifics of yobit and liqui.io yet but I'm having a consultation with an accounting firm that specializes in this tomorrow. They told me I don't have to use FIFO, that most of their clients have done well with LIFO and that they also might have some more "sophisticated" methods to shelter my gains from tax available also. And no, like-kind probably doesn't apply.
Email me and I'll tell you what they say tomorrow. [email protected]
Alexander Wilson
Hey user.
Liqui is fucking shit tier so it literally cut/paste...
Login, and top right, "trade history"
Then do "buys/sells" for each trade pair, cut/paste the table into spreadsheet with the right columns(the way it says to on bitcointax sight) and then upload.
you need to format date and all column headers exactly, and some will be missing for liqui that you need to fill in.
Its a fucking giant pain in the ass and I'm glad I only did like 12 trades in total on liqui....
You did the API for supported exchanges? did you did it for gdax/coinbase?
I haven't yet and wondering how it does reconciling that.
Samuel Johnson
>and like kind is also an instant audit because it was never allowed, not even in 2017. >And no, like-kind probably doesn't apply.
then why is it an option on Bitcoin.tax? And why did the new crypto laws for 2018 specifically address this?
>If you don't do FIFO IRS will audit the shit out of you,