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Mini data sheet on tax implications for cryptocurrency trading in the United States
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<blockquote data-quote="Plus Oultre" data-source="post: 1108114" data-attributes="member: 11351"><p>Yes, you will always report your transactions (dispositions) in your US tax return; unless you want to get in trouble. I am not familiar with the tools at bitcoin.tax so I don't know how accurate they are. Ideally, you receive a 1099 from whatever organization you use for your trades. </p><p></p><p>And following in the subject .... I always advocate tax avoidance, not tax evasion. For tax avoidance to work, it has to be planned in advance and executed; it involves looking at your entire situation, including your long term goals.</p></blockquote><p></p>
[QUOTE="Plus Oultre, post: 1108114, member: 11351"] Yes, you will always report your transactions (dispositions) in your US tax return; unless you want to get in trouble. I am not familiar with the tools at bitcoin.tax so I don't know how accurate they are. Ideally, you receive a 1099 from whatever organization you use for your trades. And following in the subject .... I always advocate tax avoidance, not tax evasion. For tax avoidance to work, it has to be planned in advance and executed; it involves looking at your entire situation, including your long term goals. [/QUOTE]
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