So I'm looking at some advise. Against the whiners, doom and groomers I bought $25,000 in ETH when it was $10. So I have 2,500 ETH, plus I have some over mining operations in 2016 which I guess I was supposed to file taxes on. So I'm not looking to run away from the country I guess I need to amend my return for 2016 for the mined coins. Someone mentioned I should use :
https://bitcoin.tax/ for this. Coinbase lets me withdraw $15,000 per week I know that is going to show up on a CTR and for 2017 Coinbase will provide the tax form. I was wondering if anyone else has any additional advise on doing this right, or best practices I should know.
Comments
Good luck blue,
Force
As for the rest, a lot of research is in order!
Good luck
that way u can enter into long term capital gains tax which is far lower than short term
this is assuming that u have another source of income u claim as ur job
if u pull more than i think 1/3rd or 1/4th of ur main income within a year taxes change as well
as u pay a regular income tax vs capitol gains
other than that with the money u made hire an accountant it will make life incredibly easier
I got royally screwed by Cryptsy.