It's that clarity I think people really need, my accountant included! They keep pivoting with each new crypto-related thing and that's a recipe for disaster. I'm hoping for a solution but I'm going to be very pissed off if I have to pay tax on crypto that's being held in an exchange. Does a person pay tax on shares they own or only on the revenue gained? (Revenue gained, as far as I know). Why is crypto any different?
Time will tell I guess. I'll be happy, or not, the same as everyone else in this position.
Absolutely agreed. Governments need to come up with their rules a.k.a. laws. It would be great if they were to tax only gains when you actually trade and make money but - who knows? This is why I'm so confused about the SL NFTs. Well, at one point i.e. October, 15 or 17 I'll have to make a decision - if the IRS hasn't made one by then.
Seems pretty silly to me.
It's all pretty silly. What's going on here will tax me twice: Once (or possibly more) in exchanges and again when I take it into fiat. I only have one thing to say about that; What the fuck!