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There are safer ways to harvest losses on a crypto asset. One approach is to trade the depreciated asset for a coin with which its price is closely correlated, hold that correlated coin for more than 30 days, and then repurchase the original asset. For example, you might trade UNI for DPI, hold DPI until the wash sale period passes, and then repurchase UNI. Source: over 2 years ago
If I use the information generated by TaxBit.com, then will I be audited by the IRS, and if so, which side the IRS will side with? Source: about 1 year ago
Hi there, thank you for visiting our sub! We unfortunately don't have the option to mail the tax forms, but they can be downloaded and printed out directly from the app. In addition, we don't generate tax forms for your Crypto account, but we do provide the CSV file with all of your transactions for the calendar year. To help with reporting your Crypto gains and losses on your taxes, we've partnered with TAXbit.... Source: about 1 year ago
Yes, you can own IMX in the US. Use cointracker.io or https://taxbit.com/ to track your transactions and taxes due for the US. Source: over 1 year ago
That's ridiculous. You should have signed a contract before handing over your files. If you were going to end up filing your taxes by yourself even after hiring their services, don't you think you should have tried tax tools? That could have saved your time, money, and energy. There are a lot of tools out in the market like TaxBit and Cointelli and pretty much easy to use. I can't give any particular advice to you... Source: about 2 years ago
Hey! This is a great article that breaks down the Crypto Tax as a whole and the current laws in the US. TaxBit makes crypto taxes super easy and they have a free plan option for you to try it out first before downloading your tax forms. I used it this year for my taxes and saved myself so much time! Source: about 2 years ago
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