based on the content of the topic message..
im not from the US. but looking at the form 1040
no where does it ask to list every share holding, every stock option, every asset you own
and the top question of the form is about your marital status
OELEO makes things up to scare people into thinking bitcoin is not fit for purpose by saying people shouldnt use bitcoin due to whatever silly reason he implies, to then advertise some other service/network he prefers
(because those services/networks only work if more people use it and at the moment those services dont have much adoption, so he is stuck with limited use himself over on those services)
as with all assets and investments in most countries. you only declare any profit/gains.
if you dont sell, you dont gain/lose
.
for years anytime anyone cashed out back to fiat, they are suppose to total up the fiat income/gains they incurred that year.
so no change..until they sell for profit
as for other forms (not mentioned in topics message)
there are SAR and CTR forms that exchanges and financials services report behind the scenes on their customers. which everyone already should be aware of for many years that central exchanges will report.
alot of people avoid central exchanges, which means that people looking for a price based on exchanges. if there are a lack of exchange customers. means that the price can vary.
EG if there are less buyers on an exchange. and too many sellers. then that can affect the price.
yep the same people saying bitcoin is not fit for purpose and trying to advertise some other middleman service or some other network.. are the same people that are telling people not to use exchanges..
i personally think people should not use exchanges as a bank/custodial wallet for long time store, but to just exchange fiat for bitcoin. it doesnt matter if you use a CEX or a DEX. because your BANK (wire transfer when cashing out) will still send their own CTR to the IRS.
thus you cant hide it
the only way to truly hide any income, is to do suitcase of paper cash trades for bitcoin.. true over the counter /off market trades. which dont contribute to the main exchange volume, price changes