You can’t structure payments under 10k its also illegal :lol:
Banks/etc have software that looks for things like that
The other thing is Coinbase/Gdax has an insane amount of users reporting over 20k+ accounts I can understand but im guessing the majority of people here are sub 10k and I don’t really see the IRS trying to correlate all that data.
I can confirm that banks definitely scan for deposits where you’re trying to hide over 10k by breaking it up. I wrote the report our credit union software uses for exactly that purpose and it’s called the velocity of funds report. It generates the report your bank/cu has to submit to the Fed.
you’re better off treating it like any equity and paying tax on realized gains.
i havent read the US policy since it doesnt apply to me but if they are intending on taxing unrealized gains i cannot see that lasting indefinitely.
With the amount of crypto out there, when you send BTC from GDAx and half a year later you send 500x more BTC back to cash out…how is anybody supposed to know whether you traded your way to that point or put it into something like ripple and held? On the other hand how can you prove any of this? It’s not like these exchanges are setup to track all of this beyond the trade history.
Do you write it down with every transaction? In that case, who’s to say you aren’t just making things up?
I still stay with the idea that they made compliance so ridiculous that mist people wont want to trade, and others just scare away from crypto. I am not advocating tax evasion, I am for paying on realized gains but not this ridiculous nonsense.
I will just ride this out, I’m not planning on withdrawing and if I had massive gains I wouldn’t need to take out more than 10k anyway.
Right now is the time to sow them fields not harvest
Damn all these computers to hell! I wanna go back to the days of lead paint and smacking your secretary on the ass to let her know she’s doing a dandy job.
@nermoria it’s not harvesting, some cryptos you cannot avoid. If you start at coinbase and end at binance or bittrex, you’re gonna exchange coins causing a taxable event. Even if you don’t report this, when you do harvest, you gotta have some story how all this shit happened.
If i can make 6 figs starting with 4 I’ll gladly pay the tax man.
By the time I am ready to harvest, I am hoping this stuff goes away. If not,go to Russia, exchange in Russia, come back from Russia with trunks of cash 
I can always print out thousands of pages of Binance trade history as well.
Oh god can you imagine going through all those pages? Or paying someone to? LOL
I made a spreadsheet over xmas break that details all transactions simply for tax purposes. I suggest anyone else to do the same. I had only been trading relatively heavily for 2 months, active for 6, and it took about 5 hours to get down. They have calculators and apps but I entered CSV spreadsheets into each one and got different responses, then I made my own.
So should I report my $50 I made? I’d hate to piss off the government.
LoL idk
OK so I spent some time with THIS AWESOME program
it’s free, highly used, and if you go above 100 trades it’s only 20$ for the year.
Anyways between me doing it by hand and their calculator it came within a 1% margin of error for the tax that I owe. I feel great and totally confident and will be adding each trade from now on.
Taking a long shot on TRX is looking great right now.
Everything seems stagnant lately on gdax lol
It probably also makes sense to pick up a few trx dogs when they come out. If its even similar to cryptocats… Those went for 100k at times.
Justin sun is quite a genius, its the year of the dog in China lol
Word of advice for new day traders like me. Be emotionless and dont get greedy. Made a great score? Stop for the day. Overconfidence will make you make moves that are dumb.
Ugh, I accidently sent $300 worth of bff to a trx wallet. I didn’t release it would even allow you to send it to the wrong wallet. Anyone know if you can recover something like this?
Bitcoin going to crush the alts again?
It would be awesome! Sales are nice !
Impossible to predict though because usually altcoins go down when BTC goes up AND total market cap is same or going down. Right now total market going up big = new money and BTC is not going up at the pace this new money is coming so if the ratio stays the same , everything goes up.
@LZ1 would have a better response but I’m pretty sure it’s no 
Isn’t that kinda the idea behind crypto?
If you send some shit to the wrong address its gone…
I was afraid of that based on the all caps warning I noticed when I did my first transfer from Coinbase to Binance. Made sure to triple check before I hit send.