Cause I'm The Tax Man

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  • Roscoe_Word
    SBR MVP
    • 02-28-12
    • 3999

    #1
    Cause I'm The Tax Man

    You guys must have received a Coinbase/GDAX 1099K form.

    It was speculated that only activity over a certain amount
    (I think it was $20,000 would be reported)


    You are receiving this email because our records indicate that your GDAX / Coinbase account meets the threshold for tax reporting. As a result, we will be submitting a 1099K to the
    IRS on your behalf.”


    Really, Coinbase, thanks anyway, but I’ll take care of that.


    Box 1A is gonna be misleading to one’s
    accountant. It’s only a “transaction amount” figure, but I suspect my state,
    thanks to Coinbase’s unasked for submittal, will think its gross income and “whack
    it” as much as possible.

    The online sportsbetting endeavor is still a good thing, and I’m just venting a bit. I appreciate the tons of help I've gotten in this forum.
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