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RE: Any easier ways to keep track of cryptocurrency for taxes?
I am paying on what I take out. The rest I see as a stock that hasnt been sold and can go up or down. So I just went to Coinbase and printed all my sells for last year.
That makes the most sense, but as you read more into it the laws get more and more confusing. It seems like they want you to track the value of it as you receive it and then show a profit or loss when you sell it. Not sure how they classify steem power though. That could lead to spreadsheets 900 pages long, and could classify as cruel and unusual punishment.
I think we'll just do it like Paul said and if they don't like our numbers, they can come back to us with theirs. 😊
The most important thing is to make a reasonable effort given the limited guidance regarding each type of crypto.