If you've thought of it. So has the IRS. It won't work. I know you think it's "not fair", but you placed a bet and won. Once the IRS takes their share (and it's not "half" as some of you claim), you'll still have a nice fat profit for which you didn't have to punch a clock.
You cannot avoid taxes by:
- pretending you didn't make any trades
- starting a foundation
- exchanging one crypto currency for another
Also it is YOUR responsibility to track all these trades. How long you held each currency for, when the trade was made, and the cost basis. Whatever trade platform you use may help you, but you're not trading with Vanguard or E-Trade, so some may not.
Submitted January 20, 2018 at 11:59PM by I1lI1llII11llIII1I http://ift.tt/2Bh7mWA
