Gunthy
GUNBOT: The automatic profit generator => General Discussion => Topic started by: glennb6 on September 02, 2017, 04:21:15 PM
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Hi Gunthy and all. Just signed up w coinbase and poly so expect to begin this adventure.
back in 1999 of the dotcombomb I'd been daytrading (and wish there was a bot back then, dearly do) and after it all ended, got a bill from the IRS for a couple million they said I owed. Long story short, the trading platform had reported all sales but didn't net that with all buys which made it look like I sold millions in stocks for profit. Unfortunately such was not reality. Ended up I got a number of years of capital losses with the IRS.
How does (poloniex in this case) account for and report to the irs? any experiences or forewarning is appreciated
Glennb6
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Well I'd imagine we will have a total record of all buys and sells. Computers tend to track everything.
I don't believe what happened to you in '99 will happen again. Poloniex, Bittrex, or Kraken will be providing full data transparency to the IRS.