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In 2018, I made some transactions with Coinbase to buy BTC with cash and then sent those BTCs to a few Crypto exchange wallets to trade for various altcoins to hold. In 2020, I traded a few of those altcoins to Eth, then back to my Coinbase wallet to sell for cash. I did not report any crypto transactions when I did my 2018 taxes because I didn’t sell for cash but I might be wrong. What should I do if I should have reported the transactions? When I do my 2020 tax, do I need to report every transaction from 2018 to the point where I exchanged the eth back to cash? #tax #crypto
every transaction you just mentioned is a taxable event
Can you not afford a cpa ? Why the f are you asking such a question on an anonymous forum
What’s this Tax topic for? Why do you even subscribe?
For basic stuff. So you are gonna take advice from a rando here on blind. Good luck
I used cointracker and it was very easy. Only cost me $100 but if you've done ALOT of trades, expect to pay more. Worth it imo
don't pay it !
Sell all your crypto and send the proceed to the IRS.
Bitcoin.tax. It’s a website and well worth the fee for the convenience.
If there is no 1099 forms issued for your trades, you are just looking for trouble if you report it.
Use cointracker
Cash it all out and FIRE in the Bahamas
🤫