Crypto taxes on Kucoin like exchanges
Are you folks in US filing crypto taxes for transactions you did in exchanges such as Kucoin and Gate.io ? They don't allow US customers and what if you had transactions on these exchanges? Do you include them in tax returns? #kucoin #crypto
Yeah lol you have to
Yeah, still have to do taxes for them. US tax law goes wide and far
Thanks
You cant even include it in turbotax nor do they give you a 1099. Only report income you can prove
lol use your noggin - if all of a sudden that income is sent to your bank and then you get audited at some point, you’re gonna have to pay penalties and maybe be sent to prison.
I just submitted taxes on crypto for the first time, but I bought this alt coin back in 2017/2018 and just sold it last January. This coin was not traded on any big exchanges, in fact it was traded on a small sketchy exchange by some Italian dude who didn't build it properly and went insolvent and lost a lot of people money and went to court, a whole bunch of shit. Anyways I just did my best without complete records, put all my transactions I could into an excel document mirroring the fields of a form 8949 and mailed it to the IRS as supporting documentation for my actual tax return that just listed the total gain/loss. No response yet, we shall see. Claiming about $8k in losses on it in total, which is legitimately what I lost. I just don't know if the IRS will accept that.
Kucoin allows us customers
They don't allow US customers if you KYC i think. Only few approved crypto exchanges in the US : binance.us, Coinbase, crypto.com app etc.
They do tho