How to file your taxes with Bitcoin Income?

[RavinTavin]

All that matters is cashing out but none of these sites collect any information or anything... I thought over 600 they are supposed to have you on file? Maybe that's just 1099 independent contractor forms

[Guardian of Forever]

In The USA, Income is not defined in tax code, try to find it... You won't. If you earned a living through the sweat of your brow, or with electricity you paid for with said life's equity, or equipment you own; this is not "income".
The Sixteenth Amendment did not bestow additional powers to Congress to tax than it had before the amendment was ratified in to the Bill of Rights; See the Brushaber case, Stranton case, and the Flint case.
So Subtitle A of Title 26  only deals with Foreign persons earning US derived income, which is profit from investments; see the Pollak case.

[lokanot0]

Depends on the country where you are in. If that countries regularized the use of bitcoin, the amount of tax you can be collected from is dependent on the cash you made from earning bitcoin. The moment you convert bitcoin into cash, the amount of tax will be assessed from the value it was converted.

[jaocoincrypto18]

Here in our country, we don't need to file Bitcoin earnings as income for us to pay the tax because our Bitcoin income will be determine in our local exchanges during our conversion to fiat in which every conversion will be automatically subject to bitcoin tax. So either we earn Bitcoin thru mining, gambling, investment and bounties it will be the local exchanges are the one who will collect the Bitcoin tax for the government.

[USDOLLAR]

I am not a professional but I think which information I have to go provide may be helpful. Some software is available which can help you with doing bitcoin taxes, such as Bitcoin.Tax and CoinTracking.Info. If you go for Bitcoin.Tax, first of all, you should upload CSV files from exchanges, and it’s free for up to 100 transactions. CoinTracking.Info doing the same, and it’s free for up to 200 transactions. Its depend on you what type of program let you choose and which type of accounting method you are adopting by after the year has ended.

[gayletot]

I know you can just get a tax deduction on the banks. because you just missed it. That's all I know I do not know yet another way to get you tax.