Digging in a little more about what to report and what to tax. This podcast below is a wealth of information for anyone that is holding a coin.
Some items i have heard:
Coinbase provided the IRS the information of anyone in their system with $20k or over in assets.
Deposits to Coinbase via FIAT currency are not taxable events.
Trade of BTC to Altcoin IS A TAXABLE event.
Reply with concerns or take-aways from this podcast.
*This is not tax advice. Consult a tax professional.
There is a new beta version update. Adds one more option for mining bringing the total options to 10 altcoins. My cards continue to over perform in this current market. #hashon
Note: make sure you rebenchmark before you start mining again. I am just using Standard.
I have an affiliate link for Coinbase if you are starting an account there. Use the link https://www.coinbase.com/join/55b1870069702d49520000ae
Thanks. Its worth a $10 credit for me.
Been using it now for 6 months or so and like the service I get for BTC. Good way to get USD in and out of BTC.