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So how are US taxes going to work after someone like me has made 1000 trades this last year?

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by COINS NEWS 186 Views

So I know each trade or exchange is a taxable event. I know there is an 8949 form that we fill out, but I mean: how is every expenditure on a Coinbase card going to have to be listed? How am I going to write in every time I hopped into doge for an hour on a bulll run just to buy high and sell low? I have this foreboding feeling that my reckless trading has made days of work for myself. Last year I kept everything off exchanges and never reported. How fucked am I really, or is the 1099 from my exchange going to simplify this whole thing?

Edit: Thanks for all the insight, folks. What I’ve concluded is that I have over complicated this in my mind, and that all I’m reporting is total loss and gains, along with mining payouts. Stay safe!

submitted by /u/boatnofloat
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