How the hell do I report all my (tons) of MetaMask activity on taxes?

[Anonymous No.27261677]

Can I just paste my address somewhere and download a .csv file?

[Anonymous No.27262001]

Please help. And none of that that "move to an island" bullshit. I've lost way more than I've made, if that makes a difference.

[Anonymous No.27262006]

>>27261677
This shit has me worried too, some of the ICOs I've bought don't even show up on Koinly so it looks illegal as fuck, thousands of dollars worth of newly minted cryptocurrency just appearing in my wallet without a trace. They're going to cavity search me for fun.

[Anonymous No.27262114]

>>27261677
I always get anxiety when I think about this

[Anonymous No.27262242]

>>27261677
I was just looking into this yesterday. The current pick is ZenLedger but idk if there's a preferred or better alternative out there.

Metamask does provide a transaction log for you as well. Top right avatar/button, settings, advanced, export

[Anonymous No.27262246]

Here's my mess of a trail...
Buy on Bittrex/Wyre/CashApp
Transfer to MetaMask/BitPay
Send tons to/from online gambling sites
Back to Bitpay/CashApp
Load BitPay card
Swap for shitcoins on MetaMask

Not a chance I can cover all that. I've probably Put in 1000x more than I've had remaining to withdraw. I have no idea how this shit works.

[Anonymous No.27262370]

Just don't. Nobody will know.

[Anonymous No.27262439]

>>27261677
Koinly works

[Anonymous No.27262866]

>>27261677
Was in this same position a week ago and scared shitless. I used Koinly, and it was super easy. They pull all historical price data, and it's free, but you'll need to pay for the filled out tax report.
>>27262006
Koinly handles this too. You can just manually alter the transaction to put how much you paid for it on the transaction where the coins are dropped in.

[Anonymous No.27263111]

I use cointracker for all my shit. If you use coinbase you can get a discount on cointracker tax services.

[Anonymous No.27263341]

>>27262370
I mean they really won’t if it’s like 10k or something

[Anonymous No.27263481]

You can cash out via paypal
there are fees
you can't cash out everthing at once
If you cash out $500 per month, chances are you'll stay under the radar

[Anonymous No.27263565]

do american really ?

[Anonymous No.27263645]

>>27263481
>cash out one weeks living expenses once a month

sounds great

[Anonymous No.27263711]

>>27261677
yes goy. you WILL pay your taxes and you will be proud of it. we need the money to feed all the niggers and shitskins we are importing.
DONT even think of not paying it you goy cattle.

[Anonymous No.27263719]

>>27263645
>having to cash out 500 dollars a month out of big gainz
anon... just who has the patience to do such a thing?

[Anonymous No.27263758]

The way I see it, its government's problem, because its the governments fault.

[Anonymous No.27263878]

i'm gonna keep flushing cash into my bank until they wanna jew me and question me with the faggots in the alphabet agency we all know and love.
when that time comes ill fight tooth and nail to not pay for dirty filthy shitskins to get by off my fucking dollars
or a broken medical system that hires deplorables and retards who literally made the third leading cause of death in the US being medical error (all because it's niggers, dumb roasties, or otherwise doing stupid shit they shouldnt be doing)

[Anonymous No.27263886]

>>27263565
ya :(

[Anonymous No.27263911]

>>27261677
>tax kikes demand tax
>tax kikes don't make it easy
>tax kikes can't even write sensible guidance
>tax kikes expect you to manually determine basis and calculate profit/loss on thousands of transactions

yeah, i don't think so. you filthy kike pieces of shit want me to pay taxes then you need to make it easy for me. otherwise i'll continue paying $0 taxes on my gains and if you dare to take action against me i will liquidate every fednigger that steps within visual range.

[Anonymous No.27263920]

>>27263719
Once the gains are big enough I'll be looking into tax laws and moving country.

>implying my 4 figure poorfolio will ever need that

[Anonymous No.27264034]

>>27263911
enjoy prison faggot

[Anonymous No.27264035]

>earning enough cryptocons to pay taxes
>not refinancing your parents house secretly after losing their 500k pension fund
>not being 2 million in the hole during a bull market

[Anonymous No.27264109]

>mfw accountant but I dont do tax work

[Anonymous No.27264172]

>>27261677
Umm what? Metamask is completely anonymous. Its not tied to any financial institution. Its just a software wallet to hold Crypto. Uncle Sam doesnt have to know you have it. Send Crypto from Metamask to an actual exchange to cash out but keep most of it either there or in a hardware wallet. Again, you dont use any personal info to get a Metamask so I dont know where you got the idea you have to report what goes on in there...

[Anonymous No.27264187]

Did you retards really get into crypto without knowing your local tax shit? Kek

I can only explain Argentinian taxes to you OP, so won't be useful.

[Anonymous No.27264226]

>>27261677
Can't you download your wallet's records as a CSV on Etherscan?

[Anonymous No.27264265]

>>27264034
enjoy nigger and kike dick in your mouth. coward cattle slave. hope you and your family get raped by a pack of feral niggers

[Anonymous No.27264278]

>>27261677
koinly.io
put in your public address, it will do what you want.

[Anonymous No.27264368]

>>27264265
>
well said, anon.
well said.
fuck that kike jew faggot.

[Anonymous No.27264376]

>>27261677
>pays taxes
>doesn't do "creative" accounting
lmao

[Anonymous No.27264393]

>>27264226
ye, just do this op

[Anonymous No.27264699]

>>27264034
step to me and i'll blow the back of your skull out with 7.62x51

[Anonymous No.27264819]

>>27263719
>>27263645
this kind of money can pay rent in many areas, the rest of your crypto assets probably appreciate in the meantime, and you avoid the hassle of finding a complicated way of cashing out free of taxes. That's not a perfect solution, yet, it has its upside.

[Anonymous No.27264861]

>>27264699
What the fuck did you just fucking say about me, you little bitch? I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills.

I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words.

You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands.

Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue.

But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it.

You’re fucking dead, kiddo.

[Anonymous No.27264867]

>>27264278
Doing this now and seems to be working nicely. Thanks to all that suggested it.

[Anonymous No.27264950]

I have too many assets to try and play crime boss by not paying taxes. It's legalized theft but it's part of the game. The only thing you can do is try to lower your tax burden with smart planning and utilizing the tricks (((they))) don't want normal people to know. Depreciation is a very powerful asset.

[Anonymous No.27265076]

>>27261677
All you need is to calculate the net loss amount, combine it with any capital gains/losses from stocks, and list that as a capital loss.

>>27264172
>Uncle Sam doesnt have to know you have it.
OP lost money. He would want to report that so he can deduct $3,000 and carry over losses in excess of $3,000 to later years.

[Anonymous No.27265151]

>>27261677
buy physical gold with your proceeds why the fuck would you pay taxes lmao

[Anonymous No.27265157]

>>27264819
In the US long term capital gains are 0% federally taxed up to the first $40,000 of total income. If all your income is from capital gains then you can get $40,000 tax free if you live in a state that has no state income tax like Florida, Texas or South Dakota.

[Anonymous No.27265252]

>>27263878
>>27263481
>>27264950
it's way easier than you think. Just get a few crypto cards (like crypto com) and spend your money that way

[Anonymous No.27266128]

fag pays taxes

[Anonymous No.27266225]

>>27262439
Wow, I've been stressing for months and within 10 minutes Koinly has my reports ready. Only lost $650 on the year, so better than I thought. Looks like I'll be making some money from doing this! Thanks anon.

[Anonymous No.27267408]

>>27266225
go big or go home, faggot.
report loses of 100k or more by faking the data

[Anonymous No.27268644]

>>27263911
basically this.
i started buying on exchanges like hotbit, poloniex, binance and that exchange that exit scammed with raiblocks.
i made literally thousands of trades swinging from one useless shitcoin to another, always with just pocket change (50 bucks or so)
then i hold 2k link since 2018.
I also started investing on uniswap in 2020, did yield farming and all that rebasing shit, moved my funds around 7 different metamask and ledger wallets and exchanges
its impossible for me to pay taxes on this shit.
i filled out the data sheets on 2 different tax platforms and both give out junk data (garbage in, garbage out).
if the tax robbery agency wanted my money, they should have made easy rules like "you pay 20% whenever you cash out on a bank account", but with these crazy crypto-to-crypto laws its impossible to pay taxes, its not my fault and i wanna end my post with the most important statement:
Taxation is indeed theft.

[Anonymous No.27270079]

or like, you can just choose not to report anything, keep your money in paper wallets and gradually cash out via multiple sets of prebought cards, crypto cards, other forms of goods like steam items and osrs gp. it's a pain in the ass but seriously, stay off major exchanges that need you to verify identity, keep to uniswap and do everything anonymously. nobody will ever fucking know random (XXX) wallet is yours and nobody will care.

just don't be a fucking idiot and use binance in the US and transfer millions around or transfer 2k USD+ into your bank account within a month directly. use your heads guys, the internet has millions of ways to sneak money around.

[Anonymous No.27270300]

dude just do the flat 35% or whatever when you cash out. that's it. don't make it gay and complicated

[Anonymous No.27270411]

do a lumpsum conversion to BTC or ETH or XMR and look for decentralized exchanges; if there's no personal data linked to your C2C swaps and linking it's basically impossible to link it back to you. you can either do a lump cashout in a single asset at a reputable exchange (coinbase, gemini) or you can look for alternative payment avenues thru bisq etc (face to face, gift cards). prepaid debit cards are also an idea. generally speaking do not move anything over 10k a time, you'll get some fincen activity real quick

[Anonymous No.27270436]

>>27270079
Cash out through Steam Items kek.
>"Sir, it says here that you bought this very expensive knife on this platform called Steam? Says it cost you 150 000$ and you paid for it by what? A prepaid card? So you could just sell it for the same price again? The judgement is 5 years in federal prison, enjoy Tyrone"
>"?"

[Anonymous No.27270667]

>>27261677
Is there any reason to move crypto into wallets with gas prices like they are? I should've just kept all my tokens on coinbase pro until gas calms down.

[Anonymous No.27270749]

Why? You only pay your capital income based on the price you bought at and the price you sold at. What happens in between shouldn't concern the gov. Am I wrong in thinking this or is this another one of those weird American tax rules that you have to report all of your activity?

[Anonymous No.27270983]

>>27261677
Cryptotrader.tax

[Anonymous No.27271031]

>>27270749
Everytime you sell coins, even if you just want to buy it $10 cheaper while swing trading, it triggers a “taxable” event. You basically have to keep a ledger of every single trade and tally it up. It’s much easier to own an AR-15 :)

[Anonymous No.27271073]

>>27261677
cointracking.info should be all you need. It can read all the exchanges as well as just wallet tx if I'm not mistaken

[Anonymous No.27271419]

>>27263565
only the retarded ones.
>pls take my money, ill show you how

[Anonymous No.27271458]

>>27264109
Based. Same normies ask all the time. I tell them to gtfo, taxes is like only 10% of accounting.

[Anonymous No.27271825]

>>27261677
there is no tax on crypto dumb ass.

[Anonymous No.27272424]

>>27271031
If you read above, I learned that koinly and other sites like it, will do all that for you. I clicked a few buttons and had my entire crypto tax return completed...and I promise I've used more wallets/sites/cards than most people.

[Anonymous No.27272537]

>>27271031
Ah ok, got you. But honestly there shouldn't be any way for anyone but you to know what and when you traded if you use a DEX, so I imagine most people should be fine. Also very much depends on where you are from, because for me purchasing crypto isn't taxed by itself, just the capital gains from it (like I said in my first post)

[Anonymous No.27272801]

>>27261677
just say u mined it

[Anonymous No.27272875]

>>27263911
Basically this. Capital gains can lick my butthole.

[Anonymous No.27272921]

>>27271458
what's the other 90%?

[Anonymous No.27273039]

>>27261677
Simple, you don't.
You Monero that shit & hope for the best.

[Anonymous No.27273080]

>>27263645
You wanna make 1000x returns and use unregulated anonymous networks to do it, but you want all the benefits of using regulated platforms? Stick to nasdaq.

[Anonymous No.27273176]

>>27261677
If you have to pay capital gains on crypto to crypto transactions just go off of what you have now minus the price you bought in at or had at the beginning of the tax year. Nobody will know you made more transactions and the tax value should be the same. If not don't pay anything in taxes. If you want to cash out declare it as income or create a company where your bought in price is your expenses along with whatever write offs you want to include so you don't pay any taxes at all.

[Anonymous No.27273254]

>>27273039
Also, ever heard of Mexico?
Yeah, I'll see you there.
When the feds knock, you know what to do.

[Anonymous No.27273371]

>>27273039
Is it just me who wants to see her satisfy herself on one of those wooden pegs behind her?

[Anonymous No.27273413]

>>27273039
>>27273254
On top of all that.
See that bitch in the pic?
She's my bitch.
Mexico's shit, but at least she gets me rock hard when needed.

[Anonymous No.27273456]

>>27264109
I’m a literal CPA who knows next to nothing about taxes. Don’t even know how I passed the tax part of the exam desu.

[Anonymous No.27273500]

>>27273413
When is it ever “needed”?

[Anonymous No.27273604]

>>27272921
Financial reporting, cost accounting, accounting systems, and audit

[Anonymous No.27273914]

>>27273500
Suicide attempts (fuck Mexico it's a real shithole I tell you, I'm stuck here or risk getting arrested back in the US - tax evasions) but her pussy's too good. I just can't let go.

[Anonymous No.27274380]

>>27273176
what about the $6000 that Uniswap just fucking gifted me for free? It's not even a transaction. Do I report that as income? I kinda suspect fedgov won't notice or care about a measly $6000.

[Anonymous No.27274476]

>>27273914
>Suicide attempts
yeah she has that bipolar look to her. Been there

[Anonymous No.27274531]

>>27273371
Good idea, you'll be shocked how far any girl will go just to pocket some bitcoin

[Anonymous No.27274687]

>>27261677
If you invested in the right coins you should be able to afford to move to a place where crypto is recognised as legit currency and therefore capital gains tax free.

[Anonymous No.27274809]

>>27274476
Johnny Depp x Amanda Heard - now that's rough, she's a real freak I wonder what she's in bed. I bet Johnny still fetishizes about her

[Anonymous No.27274995]

>>27270411
what decentralized exchanges are even out there?

[Anonymous No.27275356]

>>27261677
Thank fuck my govt decided crypto gains aren't taxed, though I doubt that'll last for long

[Anonymous No.27275668]

>>27264034
COME AND TAKE IT BITCH

[Anonymous No.27275710]

>>27274687
That's not how it works. In the US there are exit taxes when you renounce your citizenship - 23% if your net worth is over $2 million. I think the trick will be to marry a girl somewhere where there's no extradition to the US, and then tell the IRS to fuck off. You'll never be able to go back to the US though, which might suck for some if you have family still there.

[Anonymous No.27275734]

>>27274380
I would imagine it would be difficult to prove that it is a gift. As soon as you cash out you can bet that your exchange will rat you out to the IRS. If you don't want to deal for sure if you were audited than I would pay the tax on that as income. But I don't even live in the US so I have no idea. There's plenty of ways to not pay any taxes you could explore.

[Anonymous No.27275840]

>>27275710
I just saw the "crypto is recognised as legit currency" so my point is kinda moot, since you're probably just talking about being able to spend your crypto without having to convert to fiat.

[Anonymous No.27275937]

Just don't. If the IRS tries to fuck you apologize and say that since crypto is so new you had trouble properly filing your taxes and will pay the back taxes. Stupid goy.

[Anonymous No.27276101]

>>27261677
I was wondering this the other day, how come there's not a piece of software where you can put in your wallet addresses & it will make all the data into an easily digestable format? the data is all on the blockchain right?
would probably make good money if you developed that & charged for it. unfortunately i'm too tarded to do so.

[Anonymous No.27276331]

>>27261677
Register an LLC. Before tax time.