Note for GDAX-only traders: I also came across a completely free service called GDAX 8949 that is only compatible with GDAX. If you’d like to support me for writing this guide, feel free to PM me for my referral link, but I won't post it here so as to not violate the subreddit rules. More expensive than BitcoinTaxes, but reasonably so due to the extra portfolio functionalityīitcoinTaxes fit my personal use case the best, so I’ll be using their service in this guide.Would be a good choice for those with high holdings or diversified portfolios across multiple coins. Looks to be a generally well-rounded crypto portfolio tracker as well as tax reporting utility.All features included at all plans - only difference in plan price is based on number of transactions. Has areas for tracking trading, spend, income (mining/tips), and yearly opening balances.Sole purpose is for tax preparation, so the interface is much simpler.Transaction imports from the blockchain by address.Extensive list of supported exchanges for import.Free up to a certain number of transactions.I’ve summarized some quick points about each, as well as features they share: In my research, I came across two candidates for calculating my gain/loss: CoinTracking and BitcoinTaxes. Selecting a cryptocurrency tax reporting service This is merely my unqualified account of how I chose to do my own cryptocurrency tax preparation for this year. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Hope this helps someone!ĭisclaimer: I am not a tax professional. Apologies in advance if this is common knowledge already found elsewhere. In the end, I did some research and pieced together a solution that I couldn’t easily find elsewhere. GDAX, my exchange of choice, doesn’t file a 1099-B brokerage statement with the IRS (since cryptocurrency is personal property in the US), so there was no easy way apparent to me at first to get these numbers. I needed a way to calculate my proceeds and cost basis for over 3,000 cryptocurrency transactions that would be extremely tiresome to enter into tax preparation software by hand. Let me know what you think of my guide for un-complicating your cryptocurrency taxes! Hey guys! I posted this in /r/CryptoCurrency as well, but thought the US folks here might find this useful. Banned accounts can be reinstated one time on appeal.Īll moderator actions can be viewed in the /r/btc public mod logs and also here. Such accounts which have a history consistent with that of a bot will be banned. No unregistered bots that pretend to be human or make it unclear they are bots are allowed.For all other rules set globally by reddit, please read the content policy. No marketplace-style transactions for certain goods or services are allowed.It's recommended that heavy altcoin discussion and other offtopic threads be posted in its respective subreddit.Scams, Spam, Duplicates, Stalking, Excessive Profanity & Blatant User or Mod Abuse will result in removal of posts and in some cases the user will be banned.Doxing or posts that resemble doxing will result in the post being removed and the user banned permanently. No Referral links or URL shortening services are allowed.Remember asking for votes and other forms of vote manipulation is strictly prohibited.If you are interested in having your own AMA, please message the mods and let us know. This subreddit was created to uphold and honor free speech and the spirit of Bitcoin learn more about us. We welcome free and open Bitcoin-related discussion, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Read the original Bitcoin Whitepaper by Satoshi Nakamoto. As such, it is more resistant to wild inflation and corrupt banks. There is no government, company, or bank in charge of Bitcoin. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. A distributed, worldwide, decentralized digital money. In this place you can learn what "Bitcoin" means and what it truly represents.īitcoin is the currency of the Internet. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations. This happened long before the creation of Bitcoin Cash. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion.
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