I will not even consider investing more into bitcoin now that I look into my tax bill. Holy crap did I get totally screwed.
I am having to sell bitcoins now just to pay my tax bill. It is nuts. I also can't find a tax advisor to do anything with me. They won't touch my taxes for less than $4k. I do not mind doing them myself, but we really need as lot more clarification, especially in the US, of how to deal with bitcoin gains. It doesn't help that coinbase decided to treat any deposits at having a cost basis of $0.