New IRS 2018 TAX CODE that will affect all CRYPTO TRADERS!! Unless you read this..
Have you heard about the new tax code for 2018? As of January 2018 every single Crypto Currency transaction you do is a taxable event!
For example, this means if you own BTC on Coinbase and transfered it to Binance, you now have to pay taxes on the difference from what it was worth on Coinbase vs Binance. This absolutely sucks, especially if you are a day trader.
It's a website where you can keep track of every single Crypto transaction you do (for up to 200 transactions). It has great useful tools like charts, graphs and TAX REPORTS that you can generate. They have a membership you can purchase, if your a day trader, that tracks more than 200 transactions a year.
You can link Coinbase, Bittrex and Binance exchanges as well as many others.
The last thing we want is the IRS on our asses, so I highly recommend whoever trades Cryptos to check out this website. Linking an account is simple. After creating an account just go to the "Enter Coins" tab and go over to "Exchange Imports", then select your exchange. You will then be navigated to a page where it briefly explains how to import your transaction reports from the selected exchange. Here is a visual example for Coinbase.
Taxes suck, but we gotta pay them. So it's best to keep track of your transactions. If you found this Info helpful please leave a comment, upvote or Resteem please. Happy Trading! (:.png)
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