CryptoGOV

15 Feb 2023 16:11

Hello guys. I have a email from my accountant that says if you had crypto over 50k usd at any point in 2022 you need to report it on a FATCA form 8938. I’m in the US. None of my crypto has been on a foreign exchange. Does anyone know if this is required?

CryptoGOV

14 Feb 2023 14:42

"Hopefully crypto tax software continues to advance." thats very thoughtful.

CryptoGOV

14 Feb 2023 05:17

good question for chatgpt

CryptoGOV

14 Feb 2023 00:08

When you unstake and you get yield is the capital gains tax event at that very moment or is it upon selling the coin you received as yield?

CryptoGOV

13 Feb 2023 04:05

I only use a CEX as a ramp. So everything is defy!

Did you notice if one software required to do more or less reviewing than the other?

CryptoGOV

13 Feb 2023 03:52

I think he was responding to the scammer I banned and deleted

CryptoGOV

12 Feb 2023 22:09

I tested coinledger, cryptotaxcalculculator, koinly, and tokentax. Since I traded a lot in defi and multiple chains, tokentax was by far the best. Coinledger was second but didn't support ftm, sol, etc very well.

CryptoGOV

12 Feb 2023 20:30

Great. Hope that works out well.

CryptoGOV

12 Feb 2023 13:49

I use tokentax and they are the best for defi and support most chains including ftm sol avax bsc etc. I have tried a number of the other leading packages and tokentax was the best. Just my opinion.

CryptoGOV

12 Feb 2023 11:14

Not financial or tax advice but wouldn’t this just be a disposal as a normal SEND? That’s how I did mine. Maybe I am wrong tho.

CryptoGOV

11 Feb 2023 09:23

Anyone know how the HMRC in the UK would deem the Powercity loan we take out against our PLSX? Would they see it as income or just the same as re-mortgaging your house to take out equity? Ty

CryptoGOV

11 Feb 2023 03:59

Does anyone have this “book” that was made helping with this? Please anyone

CryptoGOV

09 Feb 2023 18:07

and sounds like it might be focused on consensus staking for POS, not staking in a defi contract. Pooled POS staking using client's funds with or without their approval

CryptoGOV

09 Feb 2023 06:59

I had those issues last year with rugged tokens showing being worth millions lol.

CryptoGOV

09 Feb 2023 06:57

Using koinly my second year , added my year 2022 cvs for my wallets , koinly has an astonimical( $116,000,000.00 value for to coins thst migrated last year , kishimoto and Saitama , looks like it’s using old coin quantity and v2 price . Anyone know how to remove that bad info , kinda stuck

CryptoGOV

14 Feb 2023 21:01

@Tobiwan_Hexobi sent
You a Dm regarding token tax bro

CryptoGOV

14 Feb 2023 10:08

Does someone know what the tax benefits are by using the term “sacrafice” rather than a normal ico?

CryptoGOV

14 Feb 2023 03:53

Capital gain or loss is assessed upon disposal of an asset. Staking rewards are not assessed as capital gains/loss, as they are not disposed of

CryptoGOV

13 Feb 2023 04:56

When you unstake and you get yield is the capital tax event at that moment in dolla value or when you sell?

CryptoGOV

13 Feb 2023 04:03

Thanks for this info. Yea I’m really liking the way token tax looks. I think it will be best for pulsechain probably

CryptoGOV

12 Feb 2023 22:10

If I had minimal transactions and mostly cex activity then they all would work fine tbh.

CryptoGOV

12 Feb 2023 21:48

What other software have you used?

CryptoGOV

12 Feb 2023 17:34

Thanks. I’m using cryptotaxcalculator which is pretty nice so far. They have better customer support than koinly which wasn’t helpful this year bc my CSV won’t upload. Hopefully crypto tax software continues to advance. If I make I big I’ll hire someone to help me.

CryptoGOV

12 Feb 2023 11:15

I’m sure someone uploaded the Pulse document to this chat if you check media

CryptoGOV

12 Feb 2023 00:42

Guys, how are you dealing with liquidity providing for Uniswap v3? No software is ready for that from what I am seeing

CryptoGOV

11 Feb 2023 04:00

/channel/CryptoGOV/35292

CryptoGOV

11 Feb 2023 02:52

Does anyone know how we classify transaction type on taxes whenever it’s a sacrifice? I only see “outgoing gift” as applicable

CryptoGOV

09 Feb 2023 17:23

It's a ban on staking via middleman D, not staking while still controlling your keys.

CryptoGOV

09 Feb 2023 06:58

You need to contact support for them to help modify it.

CryptoGOV

09 Feb 2023 05:09

No they can’t, they can just make it difficult for us Americans to do so.. they shut down tornado cash right?