Apparently every trade is a taxable event but Binance shows me as having like 10,000 trades (because of partial order fills)
Also I sent crypto back and forth between like 6 different exchanges, mined a bit, etc...
How do I claim taxes without putting in 100 man hours trying to sift through and find my exact tax liability? Can I just pay capital gains on what I've cashed out? Fuck this is hard
go to bitcoin.tax and make sure you use a tax prep program that can import what bitcoin.tax exports
Turbotax online doesn't import. Turbotax desktop version does.
>almost every unerect is bigger than my erect what the fuck
But at various times I withdrew and deposited mining rewards, random purchases from different sources, etc. I also transferred between exchanges. Does bitcoin.tax support that? The main issue is the mostly random/incoherent deposits/withdrawals. It's so confusing.
Yes, for the most part, it'll handle it.
It basically tracks your total amount of each coin, and their cost basis, after every trade.
You can import from multiple exchanges, and it'll combine them all into what you need.
I think it has a section that handles mining too, but the mining goes into a different part of your tax return
>Yes, for the most part, it'll handle it. > >It basically tracks your total amount of each coin, and their cost basis, after every trade. > That's fine for intermediaries, but what about when I was depositing random amounts of mining rewards? Is there some provision for that?
The issue is just that I traded 1000 times in 3 days and then somewhere on day 2 I deposited some mining reward (of course I had to send it to 2 different exchanges because exchange number 2 didnt support the specific coin) so it's that much more confusing
Eh I didn't mention it idgaf
So if you tell it that you mined that stuff, it'll track it as income. If you don't, then it knows that you're selling an amount that it didn't know about, so it treats it as coins you acquired at the time of the sell for a cost basis of $0.
If you had just mined the stuff, it doesn't make a big difference how it's handled.
Technically mined coins are supposed to be treated as income, which is taxed slightly differently than a sell with a cost basis of 0, but it's essentially the same.
I wear a size 8.5-9 and my dick is 8.62 inches hard. Your gif is retarded, and you’re a faggot.
fuckin footlets getting heated
why is my pipi so tiny when soft ;_;
it took me upwards of 7 hours to manually enter my shapeshift trades from last year. it was a fucking nightmare. thought i was being smart using the most anonymous exchange.
pics or gtfo
I can vouch for bitcoin.tax! It saved my ass hours of headache! One of my exchanges was not supported and changing those numbers into a csv for an accountant to understand was dreadful! Long story short saved myself 50 hours of work and got it down in 1 hr
Give your best estimate, they arent going to fuck you over for mistakes as long as you are close
Here is a more important question than taxes:
How do you know that you are even making money?
That is rule one in how to make money. You got to keep track of it. Taxes use those same records, which makes it easy to do them.
I don't know either...It is such a clusterfuck. I'll probably take the loss paying taxes just to avoid being thrown in jail. Land of the free :)
has anyone ever sucked a cock before? what's it like?
Napkin math and common sense, bit more than what the IRS requires
>when his shoe size less than 10
Taxact does, don't know if there is a limit though. I used it since turbo tax online wouldn't take over 500 wtf
feeling the same way honestly
how can your dick be that small?
Just pay taxes when u cash out.
>Just pay taxes when u cash out. The law states that every trade is taxable
plus you have to make sure that you're cashing out exactly the number you put in, no?
you can't sell 10 eth if you only ever bought 8 on coinbase for example
The law also states that it's illegal to buy drinks for more than three people at a time in Nevada that doesn't mean it'll be enforced.
Alright, I accept that, but what about this issue My issue is that I have a bunch of mining rewards and such, and I've cashed out let's say 100 ETH but I only ever purchased 50 ETH, obviously that looks wrong
the only solution is to either meticulously report trades OR lie about it
do you even have to report the quantity of eth sold on taxes? i have no clue how this works