2018 was my first year buying and trading cryptocurrencies. Like my title says, I've placed over 50 million trades. I've been paying estimated taxes following the estimated tax quarterly schedule based on my profits (paying taxes as if normal income), but I am at a loss on how to actually file my gains on on my official tax docs.
Everywhere I read online says that each transaction needs to be converted into USD profit/loss based on the crypto values at the time the trade was made, but that would be extremely difficult.
As of now, I've been calculating my gains using mark-to-market. I know how much USD I've deposited, I know how much USD I've withdrawn, and I know what the USD value of my holdings were at the end of 12/31/2018. It'd be nice if there was a form for mark-to-market that allows crypto trades. Anyone have an idea? Appreciate anyone that takes the time to reply. Thank you.
Submitted January 26, 2019 at 01:16PM by crypt0delphia http://bit.ly/2COR4H9
