Tax question for anyone who knows how to do this shit

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.

bump

I need to file this soon, someone please help

double bump

bump

lol u goin 2 jail

Why are you meme-ing friendo? I need help with this/

I had a 50 dollar discrepancy and am facing 6 months in prison now. They're cracking down hard.

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.

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]

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.

>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,

Why are you being an asshole? No, seriously.

>[email protected]

hey user, mind if I email you too???

the supporting exchanges actually let you download a CSV file so API keys aren't needed. I don't even know what an API is or does t b h.

>then why is it an option on Bitcoin.tax?

bitcoin.tax is NOT legal advise, they are just showing you what could be if you had the sack to try it.

Good luck if you try it, odds are you will get away with it because getting audited risk is tiny, but all the same...

>the supporting exchanges actually let you download a CSV file so API keys aren't needed. I don't even know what an API is or does t b h.

you login to exchange, and generate a key that is readonly, then bitcointax connects and sucks out your trade data automatically.

where is the option to enter an API key for exchanges like Yobit or Liqui.io then? I have a key for both websites.

Yeah sure, as long as you weren't one of those many assholes calling me a fudding larping jew earlier.

profile->API keys

but bitcointax doesn't have an option to do it on liqui and you would need to know the API calls to get what you want(and know REST, etc...)

What's even the advantage of like-Kind? It shows me paying slightly more when I select it.

>Yeah sure, as long as you weren't one of those many assholes calling me a fudding larping jew earlier.

nah man, I don't do that shit, i'm hear parsing noise looking for good info, that's it.

what was the other thread, i missed.

only if you cashed out to fiat.

otherwise, if you do like kind, all your trades(BTC->ETH) for example are deferred and not taxable.

like kind means you are only taxed when you convert to dollars.

I cashed out nearly everything except a small holding of Link though and I'm still paying more when I select Like-Kind.

maybe

what kind of spreadsheet do I need to copy paste these all to?

>what kind of spreadsheet do I need to copy paste these all to?

now you are being a fagola. fuck off now, really.

I'm not familiar with like kind, but maybe it doesn't let you deduct trading fees?

Anyone else just not paying taxes on this shit and expecting an audit?

Yolo