Post
Topic
Board Trading Discussion
Topic OP
USA Citizens - How are you tracking/reporting for Tax Purposes?
by
Zoe Saldana
on 15/07/2021, 14:01:34 UTC
----Moderator please move if this is not the correct forum.--------

USA Citizens - How are you tracking/reporting for Tax Purposes?  What software are you using?

This is where and how I buy and invest my crypto and I can see it being a big headache trying to report it all on my taxes.

buy/sell/invest - For better rates of interest I might buy on CoinbasePro and move the crypto to Kraken.
Coinbase/Coinbase Pro
Kraken
Binance USA

Move crypto from above to invest
Celsius Network

On Chain investment - I have no idea what info they provide as to the value of the interest I receive.  This is where I would use MetaMask to invest on chain.  These sites do not ask for any information about me.  I can not see how these sites could report any information to the IRS.  But I need the cost basis so I compute the taxes correctly.
e.g AMP & GRT

I have no idea how to track and report GAS fees for moving Crypto around.

Also, I can see if I bought crypto on one exchange and sold it on another, it would be hard to report.

Then there is short term vs long term gains.

Any advise would be appreciated.