Anyone know how Taxes work from Coinbase? Is it similar to capital gains from stock holdings? I had 5X gains in 2020 but haven’t sold anything. Do I need to file if I haven’t sold?

like
Posting as :
works at
You are currently posting as works at

Crypto is treated like property. If you've only bought you won't have realized any gains.

https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions

You will have to answer yes on the 1040 to the question re acquiring an interest in virtual currency.

like

It's a yes or no question, so if you intentionally leave it blank or say no and should have said yes, you might have a perjury problem. And then a potential audit problem if you later claim a basis based on a previously undisclosed transaction.

They're scouring returns and the blockchain for evasion clues. Having gotten one of their 2019 generic compliance/soft warning letters myself with small fry activity, I wouldn't risk it.

Related Posts

Moving to Houston and am looking in the Garden Oaks and Heights areas but I can’t get over the the new million dollar homes next to the $800k houses built in 1980’s. Does anyone live in an area like this? Is there a name for this? Other than a gentrified area? What are some things to consider if buying in an area like this? Are neighbors ok knowing that they’ll eventually be bought out or get to a point they can’t afford the property taxes? TIA for any insights!

like

Anyone here refinance successfully with SOFI after I-140 was approved by I-485 is pending?

like

Is it the worst time to buy real estate because of the interest rates?

like

People worrying today should read books on trading psychology! Not being patronizing- it will help you in the future, not just for investments but for doing better in life!

like

I recently bought my 1st home in TX. I want to get into real estate and eventually own/rent out multiple homes. Are there any good recommendations/tips on books/articles/websites that others have used to get started?

I've read about HELOC and cash out refinance to get a 2nd home but articles are so scattered that it gets confusing which is better in terms of tax benefits and immediate costs, etc. Anything others have found helpful that summarized how to get started would be great!

like

Debating between a few travel cards and need some opinions. Debating between Capital One Venture, Venture X and Amex Green card.

Live in a non major city with an international airport, but need to be flexible to different airlines. Which of those cards, or other cards out there, would be best

like

If you’re married, what gross income would you consider being “rich”?

like

Any advice in terms of investment to save the maximum tax?

like

My wife and I use a joint account for managing our monthly expenses. Can we both use UPI IDs linked to this account on our respective phones ?

Desi 🐟 fam - What apps are you using to make payments in India using US credit card?!
I use Wise for money transfers and other payments using debit card but i want to pay with my credit card and wondering if there's an option for that

like

What is the present value of a government pension? How does one calculate it? Trying to get a sense of weather it's worth moving over to Federal.

like

HYSA anyone recommends?

like

What kind of gifts are given at fidelity investments during year end?

like

What are currently the best Canadian credit cards for travelers? Looking for Aeroplan or bonvoy points or companion tickets

like

Can someone on a Manager salary afford a $675k house on a single $140k salary? With 20% down?

Which one to choose?

Fidelity investments, societe generale, allstate, alten, persistent, mercedes rnd.

like

Hello all!
I'm 26, I studied economics but I don't know why I'm not much into investing/trading. Someone else like this?
I recognize this is not a very good approach for someone with money "knowledge" and I would like to change this mindset. My main weakness is that I easily get bored of following the market and that I do not see big opportunities. Any advice?
Where to start learning, general advice for LT and ST investments, things you learnt, books that changed your pov on the topic etc.

Thx!

like

Thoughts on potential business ideas or investment opportunities where I can live the life I deserve now and not in retirement? I’m always trying to think of potential business ideas and come up with nothing. As far as interests, it doesn’t matter what it is. As long as it makes money I’m interested.

like

Has anyone’s credit score dropped dramatically? Mine dropped almost 20 points in one month and the reason says because the age of my accounts are low but I haven’t opened any new ones? wondering if it’s covid related somehow?

like

More Posts

I am a senior consultant, 5 years experience, CIO advisory. How much salary should I expect for a senior consultant role @ Deloitte France.
What other firms do you recommend for CIO Advisory?

Thoughts on SNAP puts ? I feel like Snapchat is the least utilized social media platform behind IG, tik Tok and Facebook. Yet it’s basically at a 52 week high

like

Hi, I have a HR discussion with EXL this week for the post of manager.

What should be the fixed pay I should be asking for?

like

Hello fishes, can someone tell me what percentage bonus can I expect for supervising associate-64 in CBS for different performance levels.
(In the offer letter it was mentioned as 10 percent.)

like

Is there any job in bank Or NBFC
I have 3 years experience as a quality analyst for personal loan cases (PS : it's not a sales experience)

like

Our school is going one-to-one with Chromebooks next year, any advice or tips? Anything you love?

like

Hey
I have Amazon Assessment for SDE-II this week.
It's my first time prepping for switch. what should I except in this virtual assessment

like

Hi Team,

How much salary I can expect for Solution Architect role in top tier companies of Netherlands and Germany location.

I have 12 years of experience.

Are there any Deloitte penetration testers or managers over the Pentesting team in here? I found a role and I was trying to connect to the right person to help increase my chances of getting viewed for the role and be the lucky winner. Feel free to DM me, I am also prior Deloitte in the Cyber GPS offering. Deloitte

like

I am a 3rd national living and working in Poland. I have around 1.8 years experience in investment banking including 2 internships. I applied for some roles at BNY Mellon london and other investment banks, that closely matches my current job description and skills.

I am willing to move to london.

But do you think they will consider me?? Your opinion matters? BNY Mellon | Pershing JPMorgan Chase Goldman Sachs

like

What is the average salary for analyst for client onboarding in investment banking in india

like

I'm in finance/tech FPA, looking to go back to the defense industry for a 25% increase in TC. But wanted to see if I should leverage the new salary with current company to see if they'll match.

Background: got a promotion at current company that didn't come with sufficient increase . After stating my case I was told it would be evaluated next October, which is what prompted the initial job search.

Current TC 103K [88/15], offer 125k base [+discretionary bonus].

like

Does anyone work at at Merrill Lynch as a Life services relationship consultant? Any info on the pay?

like

Hi All, I request you to please help me with my query. I have joined capgemini three weeks back. They told me direct project but they tagged me to bench.

According to current scenario, what would be the timeline in bench to get the project. I got an mail to get the project within 30 days so If I am not able to get it , is there any consequences on it. Please help me my queries.

like

Hi Folks! I need this community's advice. Please look at this CV and advice which companies and roles this person can apply for. Also please advise improvement areas for this CV and this person. Any help would be great!

Post Photo
like

What is the best online training centre for learning devops/SRE?

like

I am new joinee,Still unallocated.Can i get first month salary ?

like

How much can we ask from TCS for 8.7 years of experience (Java+Devops)

likehelpful

How are salaries in Montreal for planners?

like

Hi guys.... As a fresher I have two offer letters.
1. Trainee developer in Birlasoft.
Service agreement - 2 years,
bond amount - 1 lakh rupees
CTC : 4LPA
Location : Hyderabad
2. Associate Developer in NeosAlpha technologies.
Service agreement - 2 years,
No financial bond but I have to submit my original documents for 2 years time period
CTC: 3.5 Lpa
Location : Jaipur Rajasthan
Please guide me for that which company is good for me to start my career.

like

Additional Posts in Bitcoin (BTC)

Are you going to pay for Dan Held’s newsletter now that he is going to a freemium model? Why or why not?

Diamond hands, peeps.

like

How does gold,silver,ect..perform during civil unrest?

Oh man, another ATH, it really just keeps going it’s so crazy to witness

like

Discuss the digital dollar. This is accelerating faster than I thought it would.

like

Anyone think the federal reserve will end up buying bitcoin to create some stability with the dollar?

like

Biden committing to not only additional infrastructure stimulus, but also another civilian stimulus package. Seems too good to be true 🚀 btc go brrrr

like

Just saying... 🤷🏾‍♂️

Post Photo
likesmart

The basis of my bitcoin investing thesis

Post Photo
likefunny

Hi,
If anyone interested in NFT project HMU. Looking for partners

likesmart

The Bank of England governor says that cryptocurrency investors should be prepared to lose all their money🤔🤔🤔

Post Photo
likefunny

Tired- Bitcoin Lambos. Wired- Bitcoin Teslas

like

Send it 🚀

likefunny

Here's the best help I can offer to try and move your fake ownership of BTC on Robinhood- I hope this helps...

Post Photo
like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal