Thank you for your prompt response @cryptotax. Similar to @josephsavage, you are indicating these are expenses, although you are perhaps classifying them slightly differently. If so, not sure, for tax purposes, that it matters.

On my own, I assumed your first bullet point, in figuring out my taxes this year. The application of it as an expense, from both of you, is very helpful.

It will be quite something to see the "evolution" of how these transactions are accounted for over time unfolds. Specifically, to whom will the IRS assign the responsibility for the (compared to other areas of taxes anyway) remarkable level of detail to track.

With stocks, investment firms are required to track and issue related forms. Hard to see how anything like that responsibility could be assigned to a "decentralized" blockchain ...

P.S. And, yes, for the sake of both of you, I understand and respect the disclaimers.