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Author Topic: taxes?  (Read 12112 times)

Offline glennb6

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taxes?
« on: September 02, 2017, 04:21:15 PM »
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

Offline cryptosticks

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Re: taxes?
« Reply #1 on: September 03, 2017, 01:15:35 AM »
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.