First, I just want to say that I know many people don't care and have no intentions of paying taxes on their crypto. However, there are many who do and that is who this information is for. In this video I go over the website bitcoin.tax and how you can use that along with information from Bittrex, Coinbase and other sites to make calculating taxes simpler.
How to Pay Taxes on Bitcoin
6 years ago in #taxes by lifebyadam (46)
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Adam posting on Steemit? I love it.
It's been a while, I need to get more active here.
Why do I need to pay taxes on my crypto
Well, if you live in the United States and have created taxable events such as withdrawing to fiat..... its advisable to pay taxes on those gains and income from mining.
Under new updated tax code isn't every transition from one type of crypto into another considered a taxable event? (not that it's necessarily traceable, especially with coins such as z cash and Dash where the transactions can be rendered opaque.