Is there a Telegram channel specialized in crypto tax questions?

Question

Cardano Official

Melkiades Maldoror

Is there a Telegram channel specialized in crypto tax questions?

#ada #blockchain #cryptocurrency #english

0

16.04.2022

8 ответов

28 просмотров

Fibonacci Bowditch

Cointracker forum is free, mostly USA taxes discussed. Do you have a specific question? ... I'm happy to share what I've learned

0

18.04.2022

Melkiades Maldoror Автор вопроса

Fibonacci Bowditch
Cointracker forum is free, mostly USA taxes discus...

Thanks Fibonacci. Situation is complex. A total nightmare actually :) I bought from my personal funds, my company funds, my wife's, and sent it all in the same wallet. Untangling this for a tax report seems impossible. Plus, tax software like Coinpanda and others don't even see cryptos currently staked (the non-custodial staking ones) or bridged from a L2 chain to a L1 chain. Big ugly mess and you know what, I have no idea how the incompetent dudes at the government will ever figure it out if no crypto tax software can!?!?!

0

18.04.2022

Fibonacci Bowditch

Melkiades Maldoror
Thanks Fibonacci. Situation is complex. A total ni...

Staked coins disappear in Cointracker on Eth. Rewards are taxable only when cashed or converted. Total overall gains losses are usually within 10% of the gains when calculated over multiple transactions. If you never brought any back into Fiat, then birdseye numbers might be all you can do. First In, First Out cost basis rules are good to be aware of,

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18.04.2022

Melkiades Maldoror Автор вопроса

Indeed. Never brought back anything in Fiat (should have seeing how horrible this past year was!!). But in Canada we get taxed when we switch from one crypto to another. So if you buy 1 ETH, wait 2 months, switch it to BTC, they calculate your profit at the time of the swap. I think Coinpanda and others handle this well. They don't handle well non-custodial staking or Liquidity Providing.

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18.04.2022

Fibonacci Bowditch

Melkiades Maldoror
Indeed. Never brought back anything in Fiat (shoul...

Cointracker requires careful labelling and manual entry of transactions. Risk level of unwanted attention is probably lower if someone doesn't bring back into Fiat. I didn't cash out

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18.04.2022

Emmanuel

Melkiades Maldoror
Indeed. Never brought back anything in Fiat (shoul...

Go to Portugal

0

18.04.2022

Melkiades Maldoror Автор вопроса

Emmanuel
Go to Portugal

Will do once kids grow up hehe.

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19.04.2022