Crypto tax issues

[Bsims]

There is much interest in the tax implications of dealing with crypto currencies. It is a nightmare and a mess. The following article sums it up.

https://cointelegraph.com/news/tax-justice-for-crypto-users-the-immediate-and-compelling-need-for-an-amnesty-program

[Bsims]

I found another useful discussion of tax implications.

https://www.coinbase.com/bitcoin-taxes#welcome

[Arky]

Thanks for posting. The guy that wrote the first article "gets it". The IRS does not.

The 2nd article by Coinbase sounds like it was written to keep the IRS happy. So, it was Coinbase issuing the 1099-MISC form (over $600) that was pissing everyone off...

I'm wondering about newbies who buy $20 or $50 worth of Bitcoin on PayPal, who now have to answer "the question" on their tax forms and panic sets in. All of a sudden this crypto stuff isn't fun any more...

What a mess.....

[funnyb25]

Tax Forms are now available on Gemini for 2020. I of course, did not meet the criteria to get one.

[Roscoe_Word]

Tax Forms are now available on Gemini for 2020. I of course, did not meet the criteria to get one.

Good for you!