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Crypto Currency and Taxes in 2017 2018 What to tax?


Dave
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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.

 

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http://pca.st/bd2Y

 

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.

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Great podcast episode from unchained.  I learned a lot from this. 

-Keep your own records of buys/sells/exchanges so you can report accurately.

-Mining new coins counts as income at the time it was awarded. This one might be tricky to track.  The Transaction lists in Minning Pool Hub are long and miniscule.  NiceHash is at least once every couple days.  ETN was infrequent. 

 

I wonder what a threshold of reporting might be.

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