Don’t be like these guys with your PINs and Passcodes:
Some Friday fun! 
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Anyone here from the US and filing your taxes?
Care to discuss how you are reporting your trades.
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I am also interested in this, thanks for bringing this up again @electromooneum. 
There’s been a few court rulings, but no changes to the tax law regarding crypto that I’m aware of. Our government also made an example on coinbase, going after anyone who cashed out over $20k USD and didn’t pay taxes.
There were statements made about documenting all trades when the prices were higher (as they could collect more “revenue”) but has since gone quiet.
Am I missing something more recent?
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I didn’t claim anything. No capital gains to claim yet.
I think the tax laws changed for 2018 making every trade a taxable event, that means reporting all trades whether you cashed out or not
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Hmm, then I missed that then. I’ll take a more in depth look into it later on, and report back here.
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Very weird. I guess it could be reported as a loss
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But losses would never be taxable. Just written off i would think
Another reason why they’re quiet about it at the moment. Remember it is called the Internal “Revenue Service.”
I’d imagine a bunch of people who jumped in during the last bull run could be filing a capital loss this year.
My only thoughts on that are, if you file a loss for 2018, you’re even more on the hook for capital gains if/when we have them for 2019.
Edit: I should clarify here, we ‘Mericans are all on the hook for ALL capital gains every year. Filing a loss this year provides evidence of your holdings, leaving documented written evidence, to be justified in the event of gains the next year. You can bet they’ll be quick to follow up with you in 2020, if those gains are neglected from reporting.
Disclaimer: I am not a certified tax professional, and this is not tax advice. I have a guy for that. (Who like most, don’t know jack squat about crypto. I’m looking forward to ETN leading the way to make this process simpler.)
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For most people i think the the issue is the trades between one coin for another like we have to buy BTC the get ETN so what was the price of BTC when you purchased it verses the price when you exchanged it for ETN, if the price of BTC went up then you would have to pay tax on the profit
I’m in the process of downloading my trading history. I’ve downloaded it from Coinbase, Kucoin makes it a bit harder as they limit how many reports you can create per day and you have to create a report for every month you have made trades because they won’t let you download all your trading history in one report.
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I agree. I thats why I didn’t file any losses!!
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For once, I like the uk tax system for crypto. We only pay capital gains when we convert back to fiat.
Seeing the debit card video yesterday, I wonder if I’ll ever need to convert my ETN back to fiat?? Especially with some of the anticipated announcements in the coming week 
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I believe (and that’s all, just belief,) that if you buy goods or services with ETN according to what I have read that it is then taxable as there is a fiat value to your purchase. I could be wrong…ask my wife, it happens a lot. Tread carefully when it comes to the Queens money, I saw on a video…you dont F. with the queens money!
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This is a good point, thank you.
Regardless of how it goes, I’m happier with the 20% tax rather than the 40% I was expecting and the knowledge I can share the wealth as ETN before tax with the family and let them pay the tax bill at 10%
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I used https://bitcoin.tax/
I linked my accounts to add all my trades and created a tax report.
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