What do you do for Hive and altcoin taxes? will my upvote be taxed as income and counted at the time of the vote or when you cash out?
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What do you do for Hive and altcoin taxes? will my upvote be taxed as income and counted at the time of the vote or when you cash out?
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For Hive it is a bit of a nightmare as there is no automated tracking. At the moment I use a bit of a kludge and report it as income as soon as it hits an exchange. I'm generally dripping out into exchange at a steady rate, so this is the best I can do without driving myself nuts!
Otherwise, you can also just record as income at the moment of claiming. Just don't claim too often it you will be making a lot of entries!
Maybe someone will have made a CSV export of transactions on chain. I should look!
Thanks for the reply, this seems to be a taboo subject and I can see why. A person could get in trouble someday by saying things to incriminate themselves. I have to wonder how many people left for this reason. It's a nightmare to even think about how to do it.
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I think a lot of people are just ignoring it and hoping it will just go away... Either Out of complexity or ideology.