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RE: It's official, cryptocurrency has at least 3 million users! But tax complications threaten to rub out all legitimate use cases
About Poloniex, I've used their info before to do my taxes. The issue is which tax form is appropriate?
Are each trade supposed to be treated as stocks? Then we need to use that form we would use for stocks which is probably what I'll end up doing for capital gains. As far as Steem goes, Steem doesn't convert into fiat anywhere does it? I don't see how it's different from WoW. You can sell your WoW item for Bitcoin and then send that to Poloniex just like you can do with Steem. You can sell entire WoW accounts or any game account in this way for Bitcoin and shapeshift it.
But before I take further steps, I'll likely contact a CPA.
Each trade is like stocks. Rewards are income.
https://steemit.com/steem/@charlieshrem/steem-token-will-be-added-to-jaxx-wallet-and-other-fiat-integrations
It's different from WoW because, as far as I know, WoW is not traded on regulated exchanges. Steem also (obviously) isn't going to get hit until after the market-cap leaders.
It's counter-intuitive but it would be better if the IRS just starting taxing BitCoin and making the rules clear. I think that the uncertainty is hurting wide cryptocurrency adoption more than taxes will.