Need Help with Taxes on Crypyocurrency Trades?
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Hello Steemians
In the USA we have a saying; The only things in life which are certain are death and taxes. I hope that doesn’t sound to morbid.
I read a good article which cited two sources for software, which helps you down load trade data from exchanges to allow you to calculate your gains and losses. I like the idea of software that downloads all my transactions from the exchanges I use to help me calculate my gains and losses for my taxes. Then sends a report to my tax software, so I don’t have to manually enter each trade. That’s a big timesaver.
The link to the article is here: https://steemit.com/bitcoin/@guysellars/think-you-might-owe-taxes-on-cryptocurrency-transactions-for-2018-help-is-here
Thanks
@shortsegments
Having to pay for each transaction you do where you have had profit seems like an insane amount of work. Especially if you are trading. Where I live we have to pay 33% on our profits, but only if we cash out (except if you trade a lot, than the tax is A LOT higher). I don't plan to EVER cash out to fiat. I believe in a short while everything can be paid for in crypto.
Your very fortunate.
I think this is good.
Thanks
Pretty much love that software also. The work the software does
Hi @adenijiadeshina, it seems to be great software. I was wondering how I was going to calculate crypto gain and loss.
In my opinion we must be good citizens by paying all taxes. Not unless there is tax in the Cryptocurency trade.
Yes, we must pay all lawful taxes.
Thank you for the mention @shortsegments. Much appreciated.
Your welcome. Good post!
Thanks for sharing nice blog.
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Your welcome.
If it is solely his income from digital money trading, I don't know what the treatment is like, but if I don't think I can use SPT 1770 and enter into other income.
please correct if wrong
I am unsure.
crypto taxation is probably a new idea for now
Yes
with taxes, crytocurrency will be very helpful, this is very good
Thanks
I think this is good and friendly.
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Thanks