TERA2
Full Member
 Offline
Activity: 266
Merit: 222
Deb Rah Von Doom
|
 |
January 21, 2018, 04:30:20 AM |
|
The exchanges do not do very good (if any) reports at all and I've used various paid tools/sites to import the data and they were all completely wrong with errors. They cant keep up with margin vs exchange wallet, altcoins, deposits/withdrawals, etc.
|
|
|
|
|
|
|
|
|
|
|
|
I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
CinemaAI
Newbie
Offline
Activity: 40
Merit: 0
|
|
January 21, 2018, 04:32:57 AM |
|
How exactly do you guys deal with taxes if youve made 1000 trades this year and each trade has dozens of people who traded against your trade and you have complex interactions between altcoins and different exchanges. Do you just kind of estimate how much profit you made based on your account balances? That worked for me in 2013-2016 and I've never been audited but I was once audited for a $1500 Health Savings Account I didnt report...
Estimates are fine, until you get audited. Then the burden of proof is on you, not the IRS (or whatever tax authority you are under). |
|
|
|
|
bitserve
Legendary
Offline
Activity: 1652
Merit: 1345
Self made HODLER ✓
|
|
January 21, 2018, 04:34:27 AM |
|
The exchanges do not do very good (if any) reports at all and I've used various paid tools/sites to import the data and they were all completely wrong with errors.
Well, in an audit the most they will be able to get are exchanges reports and bank reports. If the exchange report is incomplete thats ok as soon as it is consistent with your bank transfers. If you are not able to get more detailed information from the exchange the tax agency most probably wont either. What sort of errors? Some manual tuning might be necessary, like choosing LIFO/FIFO/etc and stuff like that. |
|
|
|
|
bones261
Legendary
Offline
Activity: 1806
Merit: 1825
|
|
January 21, 2018, 04:38:30 AM |
|
The exchanges do not do very good (if any) reports at all and I've used various paid tools/sites to import the data and they were all completely wrong with errors. They cant keep up with margin vs exchange wallet, altcoins, deposits/withdrawals, etc.
I used https://bitcoin.tax/ and did the best that I could. Is it perfect? Nope. At least I tried. |
|
|
|
|
BRPINDIA
Member
Offline
Activity: 63
Merit: 10
|
|
January 21, 2018, 04:39:56 AM |
|
Banana fucking coin. Give me a viking coin or a spartan coin, it would make as much sense. Might even buy a bit because vikings and spartans. Fuck.
BananaCash the the real bitcoin !  *trust me* Ha ha ha .. |
|
|
|
|
realr0ach
Sr. Member
Offline
Activity: 924
Merit: 311
#TheGoyimKnow
|
|
January 21, 2018, 04:58:36 AM |
|
teh crash
On the next dump, I would like everyone to run around the room like this and yell "BITCONNNNEEEEEEEEHHHHHH" http://www.youtube.com/watch?v=9wlDhciUDD0 |
|
|
|
|
HairyMaclairy
Legendary
Offline
Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
|
|
January 21, 2018, 05:09:50 AM |
|
Ahh there’s the weekend dump.
|
|
|
|
|
jojo69
Legendary
Offline
Activity: 2758
Merit: 3868
1/21000000 , the only math you need to know
|
|
January 21, 2018, 05:14:13 AM |
|
no man, they abandoned the potassium proofs
bananacash classic it where it's at
|
|
|
|
|
RoomBot
Legendary
Offline
Activity: 2072
Merit: 1114
|
|
January 21, 2018, 05:30:48 AM |
|
I’m not here to shill so I will only say it once - but this is coming from someone who correctly called Dentacoin and Mediblocks.
Telcoin on Kucoin is shaping up as a nice shitcoin. Cheap, is rising nicely and still deep in the ranks at 137 on CMC. Lots of headroom just don’t be greedy.
Please let me know if this sort of commentary is unwanted and I won’t mention other things I find.
Awesome contribution, but not for here. Please start a new thread & share the link. BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC |
|
|
|
|
bitserve
Legendary
Offline
Activity: 1652
Merit: 1345
Self made HODLER ✓
|
|
January 21, 2018, 05:31:20 AM |
|
Ahh there’s the weekend dump.
A dump? This is not even a fart. |
|
|
|
|
Dabs
Legendary
Offline
Activity: 3388
Merit: 1905
The Concierge of Crypto
|
|
January 21, 2018, 05:40:34 AM |
|
You dont need to keep track... the exchanges do for you and give you a nice detailed report of every single trade in csv.
I actually don't keep track at all, particularly for the crypto-crypto only exchanges. The unverified ones I used pseudo-anonymous gmail accounts created from free wifi on a coffee shop one city away while wearing a baseball cap. After getting 2FA set up, they are never again accessed from anywhere else but through tor. For the exchanges where I cash out to fiat, some of them don't require verification at all (I guess because they do have my bank account info already). The ones that require verification, I just borrow someone else's ID. Sometimes I make them up using mad photoshop skillz, and they seem to work too. As far as the government and the tax authorities are concerned, I'm a normal person paying normal taxes. They have other bigger fish to catch and fry. I'm also a part of the government, so maybe that helps that no one bothers me otherwise, fringe benefits and all that. |
|
|
|
|
TERA2
Full Member
Offline
Activity: 266
Merit: 222
Deb Rah Von Doom
|
|
January 21, 2018, 05:41:05 AM |
|
but, but, bitcoin is not allowed to fall or retrace ever, only rise in a perpetual staircase pattern.
|
|
|
|
|
TERA2
Full Member
Offline
Activity: 266
Merit: 222
Deb Rah Von Doom
|
|
January 21, 2018, 05:42:30 AM |
|
You dont need to keep track... the exchanges do for you and give you a nice detailed report of every single trade in csv.
The report the exchanges give me is tens of thousands of pages long full of everyone I traded against. They wont group it by just my trades. So it's impossible to work with. I already do a large amount of trades by myself. |
|
|
|
|
realr0ach
Sr. Member
Offline
Activity: 924
Merit: 311
#TheGoyimKnow
|
|
January 21, 2018, 05:45:35 AM |
|
Another day debunking lies from cryptocurrency scammers who try to re-write the laws of reality: Central banks already feel greshams law pressuring them. Sooner or later they will be fully reserved in crypto
An imaginary token is not a "reserve", it's an IOU. Not sure how you people are this uneducated. If a nation buys a foreign currency, they're entering an informal contract and receiving an IOU or credit of the other country. Bitcoin is the same thing except instead of signing up for an informal credit contract with another nation, you have essentially scammed yourself and signed up to allow a withdrawal to anonymously be made from your coffers with no possible way to recoup it unless you can trick someone else into taking your place as creditor to this unknown entity. This is why the people who issue paper money (aka IOUs) make fun of the people who accept it such as the picture below. Since humans live in the physical plane of existence and not inside of a computer where scarcity doesn't even exist, unless you have taken physical delivery of some type of object in this plane of existence, you're a creditor. You can then argue about whether you got a good deal or not on the markup or seigniorage fee of the product afterwards, but those are the facts.  |
|
|
|
|
HairyMaclairy
Legendary
Offline
Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
|
|
January 21, 2018, 05:51:52 AM |
|
[snip]
Awesome contribution, but not for here. Please start a new thread & share the link. BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC Understood. It was well meaning and quite profitable but we don’t want to pollute this thread either. |
|
|
|
|
TERA2
Full Member
Offline
Activity: 266
Merit: 222
Deb Rah Von Doom
|
|
January 21, 2018, 05:53:26 AM |
|
|
|
|
|
|
RoomBot
Legendary
Offline
Activity: 2072
Merit: 1114
|
|
January 21, 2018, 05:54:40 AM |
|
Oh noes! It must be the end of MATHS! idiots. |
|
|
|
|
adaseb
Legendary
Offline
Activity: 3332
Merit: 1574
|
|
January 21, 2018, 06:00:15 AM |
|
How do you guys compute your taxes when...
You mined 1 ETH with your GPU ....
You sold 1 ETH and bought BTC ....
You held that BTC for a long time and then sold for USD ...
The 1 ETH is business income?
The BTC is considered capital gains?
|
|
|
|
|
TERA2
Full Member
Offline
Activity: 266
Merit: 222
Deb Rah Von Doom
|
|
January 21, 2018, 06:02:19 AM |
|
How do you guys compute your taxes when...
You mined 1 ETH with your GPU ....
You sold 1 ETH and bought BTC ....
You held that BTC for a long time and then sold for USD ...
The 1 ETH is business income?
The BTC is considered capital gains?
Heres my question. In 2017. Ive held bitcoin for 3 years, then that bitcoin forked into bitcoin cash, which i sold for bitcoin. then i used the bitcoin and the bitcoin cash proceeds to trade dogecoin and make more bitcoin profits. then finally I sell some bitcoins for cash and withdrawal. How much of this is short term gains and how much is long term gains, or is it all long term gains since cash was the only thing that mattered in 2017? Also are the remaining bitcoins that I made in profit but havent sold taxable or not? |
|
|
|
|
realr0ach
Sr. Member
Offline
Activity: 924
Merit: 311
#TheGoyimKnow
|
|
January 21, 2018, 06:04:03 AM |
|
How do you guys compute your taxes when...
You mined 1 ETH with your GPU ....
You sold 1 ETH and bought BTC ....
You held that BTC for a long time and then sold for USD ...
You are not required to do that because Jews at CNN money (who control the money supply) said math is racist:  |
|
|
|
|
|
Poll
