Converting btc or eth on the poloniex has a tax implication ? I read an article sometime back and cant find it now. Does Anyone here know something about it ? How is the conversion tracked ? How would you file gains ? How do you all plan on documenting that this tax year ?

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Talked to a tax guy at PwC, and they haven't treated any crypto capital gains yet (probably cause no one traded cryptos at all in tax year 2016). Said you should file it as equity capital gains, but there's so little regulation around it that he kinda hinted at not needing to file and just paying the taxes IF you do get audited.

Another method is to get a BTC debit card for $1 a month. Transacts at BTC market price and no need to pay capital gains taxes this way.

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AsSalaamuAlaikum Wr. Wrb.


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