Quote from: RodeoX on January 30, 2018, 03:12:42 PM

Quote from: Benkortan on January 30, 2018, 12:48:09 PM

This is an old thread, but it's still going on.
How can I prove IRS my income if I have staked (POS) my coins in my wallet.
Bank and exchange statements maybe would be ok, but what about transactions in my wallet.

The IRS is able to see your transactions, so can anyone via the blockchain. They use advance chain analysis tools to figure out who is who. However the bank statements, credit card transactions, etc. is what they will use to prove tax evasion. Not a penny goes through a bank without accounting for it.
Basically if you make any profit in America, ANY PROFIT AT ALL OF ANY KIND, you owe taxes. In bitcoin it is capitol gains you owe on the appreciation of value. There is no question about this. It is clearly defined by the IRS.

READ: https://www.irs.gov/newsroom/irs-virtual-currency-guidance

Thanks man for the info. That was very helpful. I was not aware of that. Sorry but I don't have sMerits, you deserved it.
I guess I will need to read more about taxation as I gain more coins and value.