Anyone know how taxes work when you sell for a gain? Do Coinbase and other sites prepare a 1099 or are we on our own to "self report" our gains to Uncle Sam?

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Do the right thing op, not worth to dick around

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Latter

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Yeah good point. Not worth the risk anyways.

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Well that's awesome... 🤔. Thanks Mk1

Well my strategy is simply don't sell until they actually figure out the tax situation. Since it's so hard to track and take care of, I'm hoping the US goes along the lines of the system in Australia

At least it looks like it's all taxed as cap gains rates which is nice. What do they do in Australia?

Coinbase as a very crude excel based 1099 that I downloaded this past tax season, but since I under sold i didn't need it

In Australia they don't plan on taxing cryptocurrencies based on changes in its value over time. I'm not sure if the law extends to investments in intellectual property made with them... that should probably be taxed at some point.

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