Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[philipma1957]

Its nice that we are at 70k maybe buddy will go 80k

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

[Biodom]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

I do all mailings since 1986.

Fucking as much as 300 pages for nonsense coin base transaction.


list a sale at 0.1 btc    and they may do 40 tiny sales to make it happen and I have to make 40 entries.

I have done a 319 page return for 85,000 in coin profits which is nuts.

[Biodom]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

I do all mailings since 1986.

Fucking as much as 300 pages for nonsense coin base transaction.


list a sale at 0.1 btc    and they may do 40 tiny sales to make it happen and I have to make 40 entries.

I have done a 319 page return for 85,000 in coin profits which is nuts.

well, sheet, maybe i will also do it line by line instead of a summary tx for each "item" (as Turbotax suggested) and maybe then I could do electronic and no need for a mailing.
I don't have 300 pages worth, maybe 3-4 at most, but copy-pasting or inputting all those 16 numbers after a period could be tedious. Oh, well.

[cAPSLOCK]

I am feeling a lot of tingles at the moment. I'm sorry if this crashes the price, but also not sorry.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Mia Chloe]

I know what kind of man you are 😂lol..

[philipma1957]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

I do all mailings since 1986.

Fucking as much as 300 pages for nonsense coin base transaction.


list a sale at 0.1 btc    and they may do 40 tiny sales to make it happen and I have to make 40 entries.

I have done a 319 page return for 85,000 in coin profits which is nuts.

well, sheet, maybe i will also do it line by line instead of a summary tx for each "item" (as Turbotax suggested) and maybe then I could do electronic and no need for a mailing.
I don't have 300 pages worth, maybe 3-4 at most, but copy-pasting or inputting all those 16 numbers after a period could be tedious. Oh, well.

I use bitcointax.org it generates all the sched d crap and I then attach to the return.

I made a decent amount of money mining over the years 2012-2026  maybe 300k spent on living and running the mine. Along with

About 200k in investments so say 500k in 14 years. And the 200k invested in coins  is taxable if I cash it.

Would have made much more if I simply hodl when coins were cheap. Also far far far far less paperwork.

[OgNasty]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

I do all mailings since 1986.

Fucking as much as 300 pages for nonsense coin base transaction.


list a sale at 0.1 btc    and they may do 40 tiny sales to make it happen and I have to make 40 entries.

I have done a 319 page return for 85,000 in coin profits which is nuts.

well, sheet, maybe i will also do it line by line instead of a summary tx for each "item" (as Turbotax suggested) and maybe then I could do electronic and no need for a mailing.
I don't have 300 pages worth, maybe 3-4 at most, but copy-pasting or inputting all those 16 numbers after a period could be tedious. Oh, well.

I use bitcointax.org it generates all the sched d crap and I then attach to the return.

I made a decent amount of money mining over the years 2012-2026  maybe 300k spent on living and running the mine. Along with

About 200k in investments so say 500k in 14 years. And the 200k invested in coins  is taxable if I cash it.

Would have made much more if I simply hodl when coins were cheap. Also far far far far less paperwork.

Usually I do my taxes myself and very easily match my sales with my cost basis.  This year the IRS seemingly lost it's mind.  Exchanges wanted me to account for 1200+ transactions and I only made a couple of sales.  Looks like they were trying to reconcile a nightmare of old inputs or something.  I didn't want to take any chances so I used a crypto tax company this year.  My taxes came out to about $60K more than I was expecting with my accounting, but I figure it is better to be safe than sorry when it comes to the IRS.  I am also paying more in taxes this year than I have in every year of my life combined up to this point.  My goal is to be much smarter with my tax planning in 2029...  Maybe do all the things I should have done last year.  

Selling the top is fun until April rolls around...

[BTCETFInvestor]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

I do all mailings since 1986.

Fucking as much as 300 pages for nonsense coin base transaction.


list a sale at 0.1 btc    and they may do 40 tiny sales to make it happen and I have to make 40 entries.

I have done a 319 page return for 85,000 in coin profits which is nuts.

well, sheet, maybe i will also do it line by line instead of a summary tx for each "item" (as Turbotax suggested) and maybe then I could do electronic and no need for a mailing.
I don't have 300 pages worth, maybe 3-4 at most, but copy-pasting or inputting all those 16 numbers after a period could be tedious. Oh, well.

I use bitcointax.org it generates all the sched d crap and I then attach to the return.

I made a decent amount of money mining over the years 2012-2026  maybe 300k spent on living and running the mine. Along with

About 200k in investments so say 500k in 14 years. And the 200k invested in coins  is taxable if I cash it.

Would have made much more if I simply hodl when coins were cheap. Also far far far far less paperwork.

Phil - You're the IRS tax expert aren't you? Having been an employee of the IRS for a number of years.

[philipma1957]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

I do all mailings since 1986.

Fucking as much as 300 pages for nonsense coin base transaction.


list a sale at 0.1 btc    and they may do 40 tiny sales to make it happen and I have to make 40 entries.

I have done a 319 page return for 85,000 in coin profits which is nuts.

well, sheet, maybe i will also do it line by line instead of a summary tx for each "item" (as Turbotax suggested) and maybe then I could do electronic and no need for a mailing.
I don't have 300 pages worth, maybe 3-4 at most, but copy-pasting or inputting all those 16 numbers after a period could be tedious. Oh, well.

I use bitcointax.org it generates all the sched d crap and I then attach to the return.

I made a decent amount of money mining over the years 2012-2026  maybe 300k spent on living and running the mine. Along with

About 200k in investments so say 500k in 14 years. And the 200k invested in coins  is taxable if I cash it.

Would have made much more if I simply hodl when coins were cheap. Also far far far far less paperwork.

Phil - You're the IRS tax expert aren't you? Having been an employee of the IRS for a number of years.

the IRS rules are fucked up the laws are fucked up the government is fucked up.

I lost full use of my coin base account (they let me take the wealth out).

because coin base has shit for brains.

Last Jan 2025 they kept asking for kyc info.

I sent everything in the universe I could think of. I sent email after email after email saying why won't you clear me.

Because of this nicehash closed my account since they(coins base) refused to accept deposits form nice hash same info for a decade no changes.

Finally after the nice hash company cut me off taking 3 or 4 hundred dollars in mining coins.

I finally got from coin base what the wanted info on my mining deposits from nice hash.

too late nice hash ended the account and access. So I can not prove to coin base what those deposits were.

As far as I am concerned fuck the laws they are stupid as shit.

and basically nuts.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BTCETFInvestor]

well buddy is still pressing up towards 80k rather than down toward 60k.


I got some dip at 66k the other day

and today I added a bit at 70k

I have 10% of my corn on exchanges and the rest in wallets.

I have close to zero on exchanges and even that tiny amount that I have messes things up as Kraken automatically gives you some unneeded rewards in a form of some s-tcoin.
This messes up my tax reporting.

BTW, did any of you guys (who are in US) tried to tackle the 1099-DA reporting yet?
Beware of the choices you would make in 1040 as at least some of them result in a need of mailing some form to you know who.

I decided to wait and see if it could still be attached because it is a bit crazy since they have the form from Coinbase, for example, and I have the pdf, which is downloadable from Coinbase.
Then, why do I have to mail anything instead of allowing to simply attach the file to the electronic return?
I talked to TurboTax...and they also don't know why..as it stands now, but there is a glimmer of hope for an update before Apr 15.

I do all mailings since 1986.

Fucking as much as 300 pages for nonsense coin base transaction.


list a sale at 0.1 btc    and they may do 40 tiny sales to make it happen and I have to make 40 entries.

I have done a 319 page return for 85,000 in coin profits which is nuts.

well, sheet, maybe i will also do it line by line instead of a summary tx for each "item" (as Turbotax suggested) and maybe then I could do electronic and no need for a mailing.
I don't have 300 pages worth, maybe 3-4 at most, but copy-pasting or inputting all those 16 numbers after a period could be tedious. Oh, well.

I use bitcointax.org it generates all the sched d crap and I then attach to the return.

I made a decent amount of money mining over the years 2012-2026  maybe 300k spent on living and running the mine. Along with

About 200k in investments so say 500k in 14 years. And the 200k invested in coins  is taxable if I cash it.

Would have made much more if I simply hodl when coins were cheap. Also far far far far less paperwork.

Phil - You're the IRS tax expert aren't you? Having been an employee of the IRS for a number of years.

the IRS rules are fucked up the laws are fucked up the government is fucked up.

I lost full use of my coin base account (they let me take the wealth out).

because coin base has shit for brains.

Last Jan 2025 they kept asking for kyc info.

I sent everything in the universe I could think of. I sent email after email after email saying why won't you clear me.

Because of this nicehash closed my account since they(coins base) refused to accept deposits form nice hash same info for a decade no changes.

Finally after the nice hash company cut me off taking 3 or 4 hundred dollars in mining coins.

I finally got from coin base what the wanted info on my mining deposits from nice hash.

too late nice hash ended the account and access. So I can not prove to coin base what those deposits were.

As far as I am concerned fuck the laws they are stupid as shit.

and basically nuts.

Phil - Do you know what information CoinBase reports under your SSN/Acct to the IRS? Does NiceHash report any info about your account to the IRS?

I would think the IRS treats payments from Nicehash as ordinary income taxed at your marginal rate.

[Biodom]

OT: Listen to this- Coinbase indicated acquisition dates as VARIOUS for some sales, but Turbotax cannot accept VARIOUS acquisition dates for digital sales (confirmed by the TT specialist).
I kid you not, which means that you cannot use line by line reporting, only summary for each "item/coin", which means you have to mail in stuff.
Jeez...

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BTCETFInvestor]

OT: Listen to this- Coinbase indicated acquisition dates as VARIOUS for some sales, but Turbotax cannot accept VARIOUS acquisition dates for digital sales (confirmed by the TT specialist).
I kid you not, which means that you cannot use line by line reporting, only summary for each "item/coin", which means you have to mail in stuff.
Jeez...

@Biodom - I wouldn't take the advice from the so-called TurboTax specialists or experts as the gospel, especially if they are TurboTax Community volunteers, often referred to as "Superusers" or "Champions". 

[Biodom]

OT: Listen to this- Coinbase indicated acquisition dates as VARIOUS for some sales, but Turbotax cannot accept VARIOUS acquisition dates for digital sales (confirmed by the TT specialist).
I kid you not, which means that you cannot use line by line reporting, only summary for each "item/coin", which means you have to mail in stuff.
Jeez...

@Biodom - I wouldn't take the advice from the so-called TurboTax specialists or experts as the gospel, especially if they are TurboTax Community volunteers, often referred to as "Superusers" or "Champions".  

I called their support desk and then they even tried to elicit help from someone higher ranking..to no avail.
I give up as i don't want to spend any more time on this conundrum...will sent the form by mail (in addition to e-filing).
EDIT: funny thing...no such problems exist for stocks, where you can input "various" as the acquisition date.
A little annoying wrinkle, which they will solve in the next few years