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RE: The two dreaded words...Income Tax
Thought provoking article and hopefully the tax community will be proactive. I think it is a difficult subject - but ignoring the matter does not mean answers magically appear.
It will remain difficult to determine capital gains.
I have spent a little time thinking about this. I believe one route could be via regulated exchanges which provide members annual data. What do you think about this?
Wish I could have participated in the radio show.
I think anytime the data is provided for you it's great. Covered securities provide cost basis and gross proceeds on a 1099B and this is very helpful, they do not provide basis on non covered securities and this allows a like wriggle room, there is a lot of wriggle room with crypto in general, but the reward on steemit does make me a little anxious I will admit. I have the feeling that most steemians that had a print out of what was required to be reported would ignore it, so I don't really know what to think in this moment, I have been thinking deeply about it since November 2017 and still I have not yet made any personal conclusions. Hopefully more discussions and tools can be discovered.