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Author Topic: USA - IRS Paying Taxes  (Read 10962 times)

Offline neobrudah

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USA - IRS Paying Taxes
« on: March 28, 2018, 02:22:22 AM »
Hey guys,
I've been trading with GunBot for a while, and I have a lot of trades on Poloniex and Bittrex. How the hell do I do taxes for 2017? Neither GunBot, nor exchanges produce a 1099 form. I have over 100k transactions and some software I tried failed to handle it. Anyone else facing the same problem? This tax situation is so overwhelming and many are saying to skip the taxes and as long as you keep in crypto without cashing out, you don't have to pay...
Thanks,
Neobrudah

Offline Betsycrant

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Re: USA - IRS Paying Taxes
« Reply #1 on: January 16, 2023, 09:58:42 PM »
Just make sure to consult with a tax professional before making any final decision on your taxes.

Offline Aitor

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Re: USA - IRS Paying Taxes
« Reply #2 on: October 09, 2023, 06:14:12 PM »
Hey guys,
I've been trading with GunBot for a while, and I have a lot of trades on Poloniex and Bittrex. How the hell do I do taxes for 2017? Neither GunBot, nor exchanges produce a 1099 form. I have over 100k transactions and some software I tried failed to handle it. Anyone else facing the same problem? This tax situation is so overwhelming and many are saying to skip the taxes and as long as you keep in crypto without cashing out, you don't have to pay...
Thanks,
Neobrudah

All depends on what you want. How much money do you have? It's different to have 3000 than 300.000. You don't need to report all the trades manualy, just give the report of the exchanges... in the case you want and it's worth for you to pay taxes from years in which crypto world was a thing of 4 freaks and not so popular like it is today.