I made, as many of you have, quite a bit of profit in 2017 on altcoin trading , mainly on Bittrex. Now I am wondering how to pay taxes in the US on this income. There are basically three suggestions I find.

#1 Don't pay anything and fly under the radar
#2 Don't pay anything and file 1031 like-kind exchanges when trading alts for btc (takes filing out form 1031 for each exchange)
#3 Pay taxes on every trade: Of course, there are many accountants out there who basically interpret the law (uhm, just one notice from 2014) such that one should pay taxes every time alt is traded for btc. Surely, their opinion is biased because, with thousands of transactions, they will have a lot of work made for them.

#2 Takes a lot of paperwork if you have a lot of trades, and there is no guarantee that the 1031 will be accepted. You may still owe taxes, possibly penalties.

In view of less than 1000 people in the years 2014-2016 even mentioning crypto in their tax returns (and mostly claiming losses I bet), am I the only dummy thinking of doing the #3, and paying full taxes?

Just noticing that http://upbit.org, the russian crypto/fiat exchange has been down for the second day. I'm asking for anyone with insight as of why/ETA to come back up (pun intended) to post here.

Thanks!

https://mcxnow.com/features.html

check out http://mcxnow.com for trading

Comments welcome. Haters (you already know who you are) read before you hate

I sold 0.5 ORBs today on Cryptsy for BTC 0.095 before they stopped trading (yeah I brag).

Before another exchange accepts it, I am

*** selling 1.24 ORB ***

PM your offers in BTC, LTC, XPM, or WDC, Serious offers only, thanks!

Inside the site they say

UPDATE: the referral program is currently on hold.

They were giving away $0.20 per referral or so. It seems like it got too expensive after a Reddit viral campaign!

They pulled this pretty abruptly!

Not a great start for Your Hosted Bitcoin Wallet!