Quote from: philipma1957 on July 26, 2019, 04:51:10 PM

Quote from: rs1x on July 26, 2019, 04:12:31 PM

Quote from: philipma1957 on July 26, 2019, 03:28:24 PM

Note this applies to USA and the IRS

Talking about record keeping I was sent a letter from IRS they said when I filed for 2018 I left out an account.

I realized I send all my coinbase info as usual and said to myself WTF are they talking about.
I did some checking and found they are looking for my gdax- now pro-coinbase info for 2018

It won't cost me money as my usage of gdax was not trading as much as cheaper fees to convert coinbase btc to cash

My typical thing was

1)move 0.100 btc from coinbase to gdax
2)sell the 0.1000 btc on gdax
3)move the cash to coinbase
4)withdraw the cash to bank account

or

1) move cash from coinbase to gdax
2) buy btc or ltc at gdax
3) send btc or ltc to coinbase
4) buy gear from bitmain with that btc or ltc

They now want all my gdax/pro-coinbase record from 2018 (all older years have zero trades with gdax/pro.coinbase)

2018 mostly was a down year.
I had losses most of the year. So I know sending the info will mean my capital gain(loss in reality) carryover will go from 1800 usd to say 2500

But the paperwork involved appears to be nuts crazy and or wacko. Truing the info involves matching it to my coinbase data filed with irs.

So while I saved fees I think this will take a week to do.

I thought that gdax info was included with my coinbase tax info It is not and it needs to be sent in a new

this seems like a massive headache.

It is unreal. Lets say you pulled 950usd in btc (ie 1 btc) from coinbase moved it to gdax/procoinbase list it at a limit price of 9500 (when coins are at 9300) and It takes six transactions to sell it in 3 minutes as prices fluxed up and down rapidly .

After 3 minutes you have 9500 usd minus fees say 9490 net. you move the cash back to coinbase then send it to your bank.

Pretty simple you spent 5 minutes to basically sell a coin for 9490 after fees.

it generates about 17 lines of info for basically a single sale. (which was reported incorrectly as a single sale by me)

I now need to show all 6 micro sales for that deal. It appears I have about 200 transactions on gdax but they generated around 5 or 6 micro transactions. so I need show say 6 x 200 = 1200 micro transactions.

Any easier way to cash out to dollars? Last year Coinbase sent me a 1099 saying I had 1.5 million in sales, lol. I just downloaded all transactions into a spreadsheet and totaled it.