Quote from: cellard on March 07, 2018, 03:55:45 PM

Quote from: aardvark15 on March 07, 2018, 03:45:05 PM

Quote from: ProofOfLambo on January 14, 2018, 01:05:23 AM

What degree of detail do I have to keep in order to properly declare my taxes regarding cryptocurrencies? Every operation, investment or ICO has to be recorded? I also have done a bit of mining and I have no idea on taxes regarding that.

It depends on what country you are from. If you are American, then technically I think you are supposed to track every trade. I think earnings from mining would be income. It is probably the same as someone getting paid in Bitcoins for a job. I probably have to do the same thing for signature campaign earnings. Prior to this year, I think trades could be claimed as like kind exchanges.

But who does that? I don't know anyone that has reported signature campaign earnings, did you? If someone actually does it let us know, and state the country you are from as well.

A lot of people are concerned to report the gains, but then they may not like that you made money in some forum and they will research more, and what if the earned coins from your signature campaign where used to trade altcoins in exchanges which are now dead? like I said, this has happened before, and im not sure how this would turn out, if they look on the blockchain and records don't match, and you lost your trading history, it may lead to problems as you couldn't be able to prove the origin of the coins, even if you obtained them legally.

I have not reported any signature campaign earnings yet. But the problem is that if I accumulate Bitcoins from signature campaigns and dont report them, and then I cash them out on Coinbase, isnt there a chance that Coinbase will disclose the sale to the IRS and audit my tax return? I just dont want the IRS on my case if I have not reported everything.

To your second point, I lost some coins on Cryptsy, so my plan is to claim a loss on my taxes. You can claim losses in addition to gains.