Coinbase and tax reddit understanding bittrex

If on the off chance its all just a bubble that pops to nothing you haven't how to use td ameritrade mobile trader kona gold solutions stock anything. I know alot of people, some millis, and some deep in coinbase and tax reddit understanding bittrex figures because of crytpo are upset about. He is one of the handful of CPAs in the country who is recognized as a real-world. Just let the folks who think they are above the law deal with the consequences. Want to join? In jacko site forexfactory.com iq option 2020 cases, the IRS will use the cryptocurrency question as a way to gather data about US crypto holders and keep an eye on future years for taxable events. I have like 6k total in the coins, so I may as well pay a measly fee to avoid any issues. This will automatically upload all of your trades to Turbotax, and you should be good to go. These are some ways the IRS knows that you have bitcoin and potentially owe crypto taxes. They caught Capone, they can probably catch me haha. The gov has to change the law and be clear if they want people to pay taxes the way they want. Please contact mods if you feel your post should be approved. You owe taxes on crypto to crypto, not just crypto to USD. That's true only for Crypto-Crypto trades. Or some kind of average. After you've uploaded all of your trades into bitcoin. Good luck this year! My point is that millionaires pay more taxes in a year than you will pay in your lifetime. Unfortunately, the only way you can upload your trades to Turbotax can i invest in cds at etrade klse penny stock list by buying a physical copy of the software. And if that was nothing then you have no capital gains to report. Thank you for the kind words! Any way they try and get money is clearly corrupt. OP, is buying the physical copy cheaper? I never cashed out so i have no money That changes in. No if they were in they increase you capital losses that you can deduct from what's owed.

That's true only for Crypto-Crypto trades. Are you referring to the price history on coin market cap? It's a pain in the ass to keep track of everything, but it is not double reported as realized gains last year are not realized this year If it asks you to provide a name for the financial institution through which these assets were acquired, I put "No Financial Institution. You still owe the taxes. How to calculate expected rate of return on a stock what happens to a brokerage account with negativ found it really useful. I won't be paying a cent. I tried Bitcoin. For example, duringif you just held bitcoin and did not sell, you would not have any taxable amount to report. It will shift slightly next year, but "most of it" definitely does not go to military spending either for defense or "invasions".

How does that work? Am i missing anything else? Just let the folks who think they are above the law deal with the consequences. I just don't know if this is pointless or not tho, unless someone has a better method. Of course everyones experience is different but I do find bitcoin. Before I describe the ways that the IRS knows about your crypto holdings, note that the US tax system relies on a voluntary compliance system. Thank you! I guess from crypto-crypto is taxable event. What if tomorrow all the paper gains of one crypto to another crypto goes to zero? Get what? This is how you get tax notices like CP Disclaimer: this post is informational only and is not intended as tax advice. I have no idea if you can claim a capital loss on these same trades but I imagine you can.

The good news is that higher price because your "basis", so when you eventually sell or trade gold stock picks how to determine a stock is undervalued NEO, then you pay less tax then because your profit is technically lower. You still owe tax if you traded against USD. Take a little time to brush up on your critical thinking skills Still show all the individual trades for backup but they don't matter as taxable events when you are a pro. That's why the most sensible thing to do in my opinion is only pay when you cash. Exchanges will probably have to start sharing information with the IRS soon. Cointracking just does so much more and it seemed like it was clearly the better choice even though it's not cheap if you have more than trades zip line algo trading plus500 bitcoin reddit whatever their free limit is. They are not US based. Whether or not it's worth the trouble depends on how much money we're talking. Want to how to get rich from day trading tdi indicator forex factory This doesnt fall under the wherewithal to pay concept because its essentially where good planning is supposed to come in and prevent you from owing what you dont .

And the USA isnt going to ban binance lol They are complaining that nobody is paying yet they are too lazy to update the laws so that they make sense for the crypto world. US can try and still wont work. I didn't bother. I may be missing the question though? Good luck with Monero tho lol After you've uploaded all of your trades into bitcoin. I wouldn't be paying a penny unless I cash out. That changes in however. They gota figure a better way. So they say. Same here. Exchanges will probably have to start sharing information with the IRS soon. Good luck this year! And the tracking software they use is for BTC, if im not mistaken.

How does the US gov't get the information on your trades on Binance? So what happens when I file all these crypto-to-crypto trades at today's prices thus increasing my taxes but then 50 leverage forex dropshipping vs day trading market does a major crash a-la Mt. Until then, its a complete grey area. I know alot of people, some millis, and some deep in 6 figures because of crytpo are upset about. Starting tax season, on Schedule 1every taxpayer has to answer at any time during the year whether you receive, sell, send, exchange, or otherwise acquire any when will coinbase add xrp bitcoin investment sites legit interest in any virtual currency Cryptocurrency question. Likelyhood is low tho. No sign of a crypto exchange. If so, did you include the gas you generated? Good luck with Monero tho lol That would be alot harder if you had tons of trades. China tried.

The whole idea of investments is investing and selling for money when it reaches a good selling price. So I am by no means an expert in taxes. Thank you and I wish you all the best of luck! The IRS just wants your money. Everyone is saying if you cash out I tried Bitcoin. Because of the ambiguity that still remains, I would imagine we'll see many court cases challenging the IRS "guidelines" over the coming years. But crypto doesn't get this treatment. I won't be paying a cent. This is a BETA experience. Thanks buddy.

The fact is you got rid of your investment vehicle for another asset. This is a BETA experience. Keep your cost basis. How does that work? If you trade that Tether for anything else, you only pay tax on the gain between when you bought the Tether and when you sold it for another crypto. Scenario 1: I buy 10 BTC and never sell or exchange for. Want to join? That's just ridicuous imo and way too much effort for me to go back and calculate every single trade. I guess from crypto-crypto is taxable event. Maybe running through a couple scenarios will help: Scenario 1: I buy 10 BTC and never sell or exchange for. How am i suppose to pay my taxes on crypto to crypto trades if all my money is coinbase and tax reddit understanding bittrex in crypto? And if that was nothing then you have no capital gains to report. So if you over or under reported the value originally, you'll just end up paying more or less tax later when you sell it. You owe tax just the. And how are you not being double taxed if you sell your cryptos in to cryptos, pay tax on that, and then sell those into cash, and pay tax on that? As a European When I tried bitcoin. Over the past few years, the IRS has issued subpoenas to several crypto exchanges ordering them to disclose some user accounts. Check the current USD value from coinmarketcap or thinkorswim script if statement atomate trading with oanda and tradingview at the time of bollinger band range tc2000 condition for volume on closing day trade and that establishes your exit price for CryptoA and your cost basis for CryptoB.

I'm strongly in the camp of wanting to establish a clear tax trail from the beginning of my crypto experiences, so I will be using bitcoin tax too. You need to tabulate and report these gains as capital gains when you file in the US and can be subject to some pretty serious penalties if you don't So you do NOT have to pay taxes on unrealized gains. Yeah, if you want to play it safe, yes. You now have 0 bitcoin and 1 car. Cointracking just does so much more and it seemed like it was clearly the better choice even though it's not cheap if you have more than trades or whatever their free limit is. The longer you're in denial, the more you'll owe over time. A couple of things to keep in mind: It is not the case that you are only taxed when you cash out to fiat. Unfortunately, the only way you can upload your trades to Turbotax is by buying a physical copy of the software. Thank you for the kind words! Coinbase will give up your info in a second. Report a Security Issue AdChoices. If you need some extra time, file for an extension. You are only taxed on a percentage of your realized gains, meaning a percentage of the profits from the sale of any crypto. And by the way what I meant by "a couple bucks" is like say you're only playing with about 2k in your crypto portfolio, the chances the IRS is going to come after you when there are bigger fish to fry is probably low, but what the tax professionals keep saying is if in a couple years crypto has gone too the moon and you have tons of money, if you try and report then and get audited you could be setting yourself up to get fined later on. I live in the UK and its all up in the air at the moment regarding tax payments. Where did you see this? I think a lot of people do not realize that yeah if you made a couple bucks off crypto, the IRS more then likely isn't going to come knocking. What if tomorrow all the paper gains of one crypto to another crypto goes to zero?

I'm not saying this is the way it should be, but in the ends taxes are part of life and it's better just to coinbase how long to deposit funds coinbase transactions not showing up your part and not cause yourself a headache in the future. I will use your referral link as. Im not sure how accurate that thing really is. No duplicate threads. And how are you not being double taxed if you sell your cryptos in coinbase and tax reddit understanding bittrex cryptos, pay tax on that, and then sell those into cash, and pay tax on that? You then go to a Ferrari dealership and spend the entire bitcoin on a car. I do NOT owe any taxes yet even if the value has gone up a lot it probably has! Everyone is saying if you cash out Awesome guide. Thanks buddy. So basically you're supposed to calculate the USD value of the GAS and report that as part of your income for the year. So you have never sold any crypto against USD inright? The IRS doesn't mess around and when audited, the burden of proof instaforex withdrawal limit how to use pivot points in forex trading on the individual especially if what is laid out is somewhat true.

That changes in however. Are you referring to the price history on coin market cap? Since crypto is an asset and not a security or currency according to the IRS then how can they associate a fiat value to the crypto? I didn't even bother changing the names of currencies but you do have to be careful with that. It's on you to figure out those values in USD and pay them. Good luck with Monero tho lol The gov has to change the law and be clear if they want people to pay taxes the way they want. That seems like a racket It just depends on income level. Or some kind of average. Oh dear lord. Your good, you only need to pay taxes if you trade for another coin or cash out. Any exchange from coin to coin is a realized capital gain. Paying taxes.. So guilty until proven innocent? And the tracking software they use is for BTC, if im not mistaken. It's like trying to come up with a value of a rake and a shovel. I'm not saying this is the way it should be, but in the ends taxes are part of life and it's better just to pay your part and not cause yourself a headache in the future.

You owe taxes on crypto to what is an ea in forex download olymp trade indonesia for pc, not just crypto to USD. So you do NOT have to pay taxes on unrealized gains. I have like 6k total in the coins, so I may as well pay a measly fee to avoid any issues. There really isn't any gray area. Submit a new text post. I do NOT owe any taxes yet even if the value has gone up a lot it probably has! I think you nailed it by your answer. In you can try to get away with like-kind exchanges, but keep in mind you will need to fill out a form in your taxes indicating. Post a comment! So when that day comes to cash out a larger amount, have a few bank accounts open for that purpose and do smaller streams over time. I won't be paying a cent. Income is income and is taxable. The good news is that higher price because your "basis", so when you eventually sell or trade your NEO, then you pay less tax then because your profit is technically lower. Are you referring to the price history on coin market cap? Jan 27,am EST. April 15 is the coinbase and tax reddit understanding bittrex in the United States for residents to file their income tax returns. I didn't entirely work out the details of the rest of your best practice day trading app automated forex trading services, but basically you only pay taxes on your gains when you sell your coins an exchange for other coins is considered a sale followed by an immediate purchase, but it's still considered to be a sale. It's as if you are "selling" one crypto and then "buying" the other, while going in and out of fakeUSD.

You're in the same place. I have also used bitcoin. I wouldn't be paying a penny unless I cash out. Just wanna know how much to pad my cash out. Good info. I'm assuming you hold NEO. So you have never sold any crypto against USD in , right? What the value of crypto was on paper by end of last year is clearly not the case now as market has plummetted. I will use your referral link as well. Recommended For You. For example, in , Coinbase had to disclose approximately 13, user accounts including taxpayer identification number, name, birth date, address, records of account activity, transaction logs and all periodic statements of account or invoices or the equivalent pursuant to John Doe summons. For example, during , if you just held bitcoin and did not sell, you would not have any taxable amount to report.

What if you didn't claim it? Yes that is correct! If you receive a Form B and do not report it, the same principles apply. There's too many gray high probability stock trading patterns rsi alerts tradingview and nothing clear on how to determine proper valuation when trying to come up with crypto to crypto trades. I may be missing the question though? People say you can offset losses but to me they have even limited that option. Log in or sign up in seconds. I'm not worried about. Whether or not it's worth the trouble depends on how much money we're talking. Hmm I think I understand your question. And by the way what I meant by "a couple bucks" is like say you're only playing with about 2k in your crypto portfolio, the chances the IRS is going to come after you when there are bigger fish to fry is probably low, but what the tax professionals keep saying is if in a couple years crypto has gone too the moon and you have tons of money, if you try and report then and get audited you could be setting yourself up to get fined later ai trading bot github coinbase pro trading bot.

He is one of the handful of CPAs in the country who is recognized as a real-world. That changes in however. So you have never sold any crypto against USD in , right? I'm strongly in the camp of wanting to establish a clear tax trail from the beginning of my crypto experiences, so I will be using bitcoin tax too. Still undecided where to move, Hong Kong I don't think so. Makes no sense. The shovel in my garage is also an asset. Read Less. So then what am I really paying taxes on? That's not how the world works. You will be forced to pay what you owe plus interest if you get caught. Jesus Christ dude are you autistic? Are you a Republican? Thank you! I tried Bitcoin.

Want to add to the discussion?

They say dont invest more than you are willing to lose, not lose plus taxes. These are unrealized gains. And again I'm not expert but I also believe this accounts the same for the opposite way. Aside from that, it sucks if you get caught. Rules No inappropriate behaviour. Still show all the individual trades for backup but they don't matter as taxable events when you are a pro. Am i missing anything else? The only unclear part is on what date s do you calculate the USD value. But what if I bought at and exchanged immediately to neo for around the same price of eth.

I bet the majority lol. Share robinhood free stock review cimb stock trading on you to figure out those values in USD and pay. Post a comment! This shite is bonkers. No moron. Isn't this illogical? Disclaimer: this post is informational only and is not intended as tax advice. This is how you get tax notices like CP I appreciate it! What kind of inaccuracies? This isn't entirely true. Hop on bitcoin.

1099-K & 1099-B

So they say. Disclaimer: this post is informational only and is not intended as tax advice. My point was that the majority of people complaining are the ones that have a tiny stake in crypto. I will use your referral link as well. I'm not saying this is the way it should be, but in the ends taxes are part of life and it's better just to pay your part and not cause yourself a headache in the future. It's as if you are "selling" one crypto and then "buying" the other, while going in and out of fakeUSD. What do you do if you had other people buy you btc back then? For example, in , Coinbase had to disclose approximately 13, user accounts including taxpayer identification number, name, birth date, address, records of account activity, transaction logs and all periodic statements of account or invoices or the equivalent pursuant to John Doe summons. What else ya got? I may be missing the question though? Edit Story. How does that work? I didn't even bother changing the names of currencies but you do have to be careful with that. Also, let's say that in you bought a different coin with the aforementioned USD wallet which you cashed out by transferring to Paypal. They cant tax the planet.

Crypto-crypto trades are taxable in as. Most of it goes to the government funding the military for more invasions. Lol idiots. Are you referring to the price history on coin market cap? And by the way what I meant by "a couple bucks" is like say you're only playing with about 2k in your crypto portfolio, the chances the IRS is going to come after you when there are bigger fish to fry is probably low, but what the tax professionals keep coinbase and tax reddit understanding bittrex is if in a couple years crypto has gone too the moon and you have tons of money, if you try health sector tech best stocks which of the following are defined as penny stocks nasdaq report then and get audited you could be setting yourself up to get fined later on. Thanks buddy. Isn't this illogical? This site has some good charts that will help you know how much you need to set aside for Uncle Sam. Next time you better specify where youre from It will shift slightly next year, but "most of it" definitely does not go to military spending either for defense or "invasions". Jan 27,am EST. If on the off chance its all just a bubble that pops to nothing you haven't made anything. I have no problem paying my fair share. A couple of things to keep in mind: It is not the case that you are only taxed when you cash out to fiat. I just don't know if this is pointless or not tho, unless someone has a better method. Take a little time to brush up on your critical thinking skills This means that the the IRS expects you to report forex cash rebate investment agreement taxable transactions whether the IRS knows about those transactions or not in a given year because it is required by the internal revenue code.

Welcome to Reddit,

I'm strongly in the camp of wanting to establish a clear tax trail from the beginning of my crypto experiences, so I will be using bitcoin tax too. Jan 27, , am EST. That's correct if your using specific identification of shares for your trades. Nothing actually changed in in regards to the tax-ability of crypto-to-crypto trades despite a misleading Forbes article and other misinformation. But what if I bought at and exchanged immediately to neo for around the same price of eth. Carry on Hang on a minute, the IRS are wanting taxes every single tax year. My own CPA and nearly all of the CPAs I've seen quoted have also verified that it's clear that you are expected to pay capital gains taxes when you sell a crypto currency to buy a different one including direct trades. That would be alot harder if you had tons of trades. What a fookin joke. I didn't bother. The IRS classifies crypto as property and any exchange of property is a taxable event It saved me hours! You said if you bought one coin at one price and later you exchanged that coin to another and when you exchanged the value has risen then you owe taxes. People say you can offset losses but to me they have even limited that option. Taxes are a part of life and the last thing you want to deal with is getting in trouble with the IRS. Lol idiots. If you are audited, Turbotax will take care of all of it. Is there a service to get all the historical price of asset at the time of exchange to different coin? If you make money, you cash out and pay.

Do you really have to buy a physical copy? I never cashed out so i have no money I have also used bitcoin. TLDR : Cryptocurrency are still in a grey zone and you should get informed and at least pay your taxes on cash gold covered call web scraping nadex. Please be careful and understand how you're filing this year. The world is not just. Paying taxes. Aside from that, it sucks if you get caught. I will use robinhood reddit penny stocks how to create intraday chart in excel referral link as. That's true only for Crypto-Crypto trades. However, how it was explained to me by the tax accountant that I talked too was that the IRS requires you too report all gains on crypto whenever those gains are realized. You still owe tax if you traded against USD. I work coinbase and tax reddit understanding bittrex hours and sometimes after a full day, it can be hard to find motivation to do data entry work for. As another tax season arrives, one of the major questions crypto holders have is how does the IRS know if someone has cryptocurrencies. Theres no way in hell theyd know you are you if you hodled. And thank you so. The IRS classifies crypto as property and any exchange of property is a taxable event Unfortunately, the only way you can upload your trades to Turbotax is by buying a physical copy of the software. Is there a service to get all the historical price of asset at the time of exchange to different coin? For example, duringif you just held bitcoin and did not sell, you would not have any taxable amount to report. Over the past few years, the IRS has issued subpoenas to several crypto exchanges ordering them to disclose some user accounts. In you can try to get away with like-kind exchanges, but keep in mind you will need to fill out a form in your taxes indicating. That seems like a racket So when that day comes to cash out a larger amount, have a few bank accounts forex best trades of the day abfx forex for that purpose and do smaller streams over time.

The IRS classifies crypto as property and any exchange of property is a taxable event This includes, but is not limited to: personal attacks, threats of violence, slurs of any kind, posting people's private information. Great stuff man. I just don't know if this is pointless or not tho, unless someone has a better method. The fact is you got rid of your investment vehicle for another asset. Buy bitcoin in The IRS just wants your money. That's why the most sensible thing to do in my opinion is intraday technical analysis tools average pip movement london trading session pay when you cash. It will shift slightly next year, but "most of it" definitely does not go to military spending either for defense or "invasions". The whole idea of investments is investing and selling for money when it reaches a good selling price. You're in the same place. I think coinbase and tax reddit understanding bittrex was said a few times, but I'm just confirming cubit custom binary trading td ameritrade futures trading reviews a crypto-to-crypto trade is a taxable event in the US. There are already services that accept BTC for payment tho. All Rights Reserved. What happens if you put in a few hundred, it goes up to a few thousand, live stock trading simulator best stock day trading system you sell those coins into some other cryptos, and they then go down to a few dollars? Become a Redditor and join one of thousands of communities. Thank you and I wish you all the best of luck! I work long hours and sometimes after a full day, it can be hard to find motivation to do data entry work for. But here is my question- how can you tax on hypothetical gains in crypto-crypto?. If so, did you include the gas you generated?

If you file a tax return and do not include these amounts, the IRS computer system Automated Underreporter AUR automatically flags those tax returns for under reporting. It saved me hours! You said if you bought one coin at one price and later you exchanged that coin to another and when you exchanged the value has risen then you owe taxes. Hop on bitcoin. You now have 0 bitcoin and 1 car. Want to add to the discussion? You need to tabulate and report these gains as capital gains when you file in the US and can be subject to some pretty serious penalties if you don't This stands for "first in first out", which basically means that your basis in a certain coin is calculated in the order in which the coins are bought. Over the past few years, the IRS has issued subpoenas to several crypto exchanges ordering them to disclose some user accounts. You can shapeshift into LTC and go through coinbase or a similar process to do this. Good luck with Monero tho lol There are already services that accept BTC for payment tho. I wouldn't be paying a penny unless I cash out. I guess from crypto-crypto is taxable event. I'm not saying this is the way it should be, but in the ends taxes are part of life and it's better just to pay your part and not cause yourself a headache in the future. What if tomorrow all the paper gains of one crypto to another crypto goes to zero? They caught Capone, they can probably catch me haha.

I will use your referral link as well. How am i suppose to pay my taxes on crypto to crypto trades if all my money is devoted in crypto? Please contact mods if you feel your post should be approved. He's asking how paying turbotax for "audit protection" is worth it if you still Have to do all the work yourself. It's more that the millionaires and billionaires can afford good tax lawyers that find loopholes that allow them to legally pay less taxes than they probably should, while the people with 4 figure investments are just not paying the taxes the IRS says they owe. Income is income and is taxable. I just don't know if this is pointless or not tho, unless someone has a better method. Also, let's say that in you bought a different coin with the aforementioned USD wallet which you cashed out by transferring to Paypal. They are complaining that nobody is paying yet they are too lazy to update the laws so that they make sense for the crypto world. No moron.. Ultimately any cryptocurrency should only be taxed upon cashing out. So what happens when I file all these crypto-to-crypto trades at today's prices thus increasing my taxes but then the market does a major crash a-la Mt. It would have really made a difference on how I put my portfolio together. I know alot of people, some millis, and some deep in 6 figures because of crytpo are upset about this. I found it really useful too. Jan 27, , am EST. If you are asking whether, if audited, you will have to provide additional information to Turbotax, the answer is yes. Crypto-crypto trades are taxable in as well. What else ya got?

I live in the UK and its all up in the air at the moment regarding tax payments. I think you nailed it by your answer. Good info. This includes, but is not limited to: personal attacks, covered call trade example how the rich control the stock market of violence, slurs of any kind, posting people's private information. Still show all the coinbase and tax reddit understanding bittrex trades for backup but they don't matter as taxable events when you are a pro. Since crypto is an asset and not a security or currency according to the IRS then how can they associate a fiat value to the crypto? Read our rules and FAQ before posting. I have no problem paying my fair share. Hang on a minute, the IRS are wanting taxes every single tax year. Am I SOL? What's the best procedure to have on hand when they ask you how did you get "x" amount and from where? Do you really have to buy a physical copy? That's not how the world works. Same. However, the IRS is under-staffed and still figuring out this market. What if you didn't know? And how are you not being double taxed if you sell your cryptos in star citizen is trading profitable put companies brokerage account into seperate llc cryptos, pay tax on that, and then sell those into cash, and pay tax on that? An asset you were able to get more of because your investment vehicle went up in value, so you do owe tax even though no cash was received. So guilty until proven innocent? Is there a service to get all the historical price of asset at the donchian channel breakout strategy using quantstrat to evaluate intraday trading strategies brian pe of exchange to different coin? If they wanted to play nice Recommended For You. This means that the the IRS expects you to report all taxable transactions whether the IRS knows about those transactions or not in a given year because it is required by the internal revenue code. The key thing is that reported value becomes your "basis" for the value of it, so you just pay the difference in increased value if you later sell it.

Hang on a minute, the IRS are wanting taxes every single tax year. I've just filed my crypto taxes, this is what I did Feel bad for people who lose money and owe taxes. I hope this helps. I didn't entirely work out the details of the rest of your example, but basically you only pay taxes on your gains when you sell your coins an exchange for other coins is considered a sale followed by an immediate purchase, but it's still considered to be a sale. If youve been into crypto longer than 6 months. IRS can fuck off. Want to add to the does commission get deducted right away on day trading best stock trading app canada reddit No duplicated questions that are addressed in FAQ. Welcome to Reddit, the front page of the internet. Any exchange from coin to coin is a realized capital gain.

Thanks for sharing this, very helpful. So you have never sold any crypto against USD in , right? IF I cash out, I'll pay tax. Now look at it differently. Want to join? It would have really made a difference on how I put my portfolio together. That would be alot harder if you had tons of trades. I'm glad it helped. And thank you so much. It's like trying to come up with a value of a rake and a shovel. You are only taxed on a percentage of your realized gains, meaning a percentage of the profits from the sale of any crypto. It's a pain in the ass to keep track of everything, but it is not double reported as realized gains last year are not realized this year They can't kill it, I agree, but if they all went full bore against it, valuations would plummet, that would be good for whom? I think this was said a few times, but I'm just confirming that a crypto-to-crypto trade is a taxable event in the US. If you make money, you cash out and pay. This has been the case for a while. This means that the the IRS expects you to report all taxable transactions whether the IRS knows about those transactions or not in a given year because it is required by the internal revenue code. If you have any questions I can try and answer them, although I may not be of much help.

He's asking how paying turbotax for "audit protection" is worth it if you still Have to do all the work yourself. And thank you so much. Yes the IRS is understaffed and your audit risk is low, but it's not zero. But the IRS can piss off if they're trying to tax my crypto to crypto gains. It's like trying to come up with a value of a rake and a shovel. I'm not joking. OP, is buying the physical copy cheaper? This is correct right? They are not US based. This includes the promotion of new features of community projects. Carry on