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<blockquote data-quote="Isaac Jordan" data-source="post: 1108123" data-attributes="member: 3810">RE: Mini data sheet on tax implications for cryptocurrency trading in the U.S.Quick update: unfortunately the new 2018 tax bill <a href="https://medium.com/wespostdotcom/understanding-how-your-cryptocurrency-will-be-taxed-in-2018-e807838bb7ae" target="_blank">explicitly limits 1031 exchanges to real estate transactions</a>, meaning all crypto-to-crypto trades from Jan 1, 2018 going forward will be considered taxable events.There are ways around this, like (possibly) <a href="https://cointelegraph.com/news/is-puerto-rico-a-crypto-tax-paradise-expert-take" target="_blank">moving to Puerto Rico</a>, or buying and holding in order to take advantage of long-term capital gains.If you do insist on trading, I would again recommend cointracking.info. I've been using it for almost a year now and it has proved invaluable come tax time (not to mention having access to all sorts of other data). You can create a free account, although they'll ask you to upgrade once you hit 200 trades. If you're planning on buying an account, PM me for a referral code and I'll walk you through a couple of tips/tricks/things to be aware of as you use the software.Happy trading fellas!</blockquote>

[QUOTE="Isaac Jordan, post: 1108123, member: 3810"] [b]RE: Mini data sheet on tax implications for cryptocurrency trading in the U.S.[/b] Quick update: unfortunately the new 2018 tax bill [url=https://medium.com/wespostdotcom/understanding-how-your-cryptocurrency-will-be-taxed-in-2018-e807838bb7ae]explicitly limits 1031 exchanges to real estate transactions[/url], meaning all crypto-to-crypto trades from Jan 1, 2018 going forward will be considered taxable events. There are ways around this, like (possibly) [url=https://cointelegraph.com/news/is-puerto-rico-a-crypto-tax-paradise-expert-take]moving to Puerto Rico[/url], or buying and holding in order to take advantage of long-term capital gains. If you do insist on trading, I would again recommend cointracking.info. I've been using it for almost a year now and it has proved invaluable come tax time (not to mention having access to all sorts of other data). You can create a free account, although they'll ask you to upgrade once you hit 200 trades. If you're planning on buying an account, PM me for a referral code and I'll walk you through a couple of tips/tricks/things to be aware of as you use the software. Happy trading fellas! [/QUOTE]

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