Quote from: neurotypical on June 18, 2015, 10:18:36 PM

Quote from: subwoofer12 on June 17, 2015, 11:54:59 PM

Quote from: Amph on June 15, 2015, 06:07:22 AM

how they can track back something like monero? not to mention any others random coin that can emerge every day, it's impossible to follow that shit, plus the coin that you see in the altsection are not all the possible existing coins

They can't track Monero, Dash, or even Bitcoin (if you wash the coins). But you must report every capital gain and loss with the current laws, and I don't want to be charged with money laundering/tax evasion. Wink

Although I do want to pay the minimum amount of taxes possible, I was hoping I could use my Bitcoin earnings to purchase investment properties and avoid the capital gain taxation (1031 loophole) but this isn't currently possible. Even though both are considered property unfortunately they aren't 'like-kind'

https://en.wikipedia.org/wiki/Internal_Revenue_Code_section_1031

But i'll ask this again: How do you report gains if you keep track of it? who in their sane mind has keep track of eeevery single transaction ever? specially as a daytrader, and specially when tons of them happened in defunct exchanges where the databases are lost forever... how then?

usually the exchange on which you trade, will report everything, there is a trade history, withdrawal history and deposit history, you only need a screen of this and you're done i think

the same can be done if you operate on multiple exchange or you are a miner, signature campign that run bot also keep track of your income(well this is easy you just have your TX coming in your wallet)