Essentially every trade back and forth between cryptos is reportable... anytime you convert back to USD is reportable... if you use crypto debit cards, etc. It's a real pain the way they have it set up now.
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Yeah the crypto to crypto being a taxable event is so onerous, it just seems ridiculous.
But on the flip side, that rule creates so much paperwork on their side, it can’t be feasible long term unless the IRS goes on a huge recruitment drive.
Anyway BTC is above $10k so happy Thursday!
Yes! Best strategy is likely to just hodl lol
It’s certainly not the worst strategy. Btw I haven’t upvoted because my voting power is recharging and atm my steem power is not enough to even add $0.01 as a curation reward. However you are on my follow list and I will be able to support in the future!
That is a massive pain..... I have many different exchanges and I have to print out all that and take it... ugh.
I feel your pain, been doing the same.