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Who had that Bitcoin target price prediction?

Subway

Subway

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$kully said:
Been mostly dicking around on Coinbase. Just looked at my initial purchase of crypto on PayPal and it’s almost exactly doubled right now. Just BTC & ETH +103.59%

I wish Coinbase would give you a total gain % like PayPal now does. I hate having to look at all my wallets and mentally add up all the purchases and conversions.
Click to expand...
I don’t even bother I just assume I’m crushing it if the only time I sell is for a profit, even if modest, and I have made thousands more than I have invested this year. I assume coin base and ally have year end reporting for tax purposes. Sure as sh!t hope I don’t have to count all those trades myself. I would just pay an accountant at that point

waitbshit im now reading prior posts. I DO have to manually enter them all into an app to figure out how much I gained/lost this year if I even bother playing by the rules? I mean, I played with LTC and made a grand back in 2017 when it had that crazy spike for a while, and my tax attorney laughed himself senseless when I asked if I should declare it. This year, I perhaps, if my stoned, preoccupied, hyperactive, ADD, and super busy and stressed out self is even remotely correct on what I’ve made on yellow and a few cryptos, I’m not talking 6 figure gains, but may have made as much as low 5 figures. I mean, I pay a tax attorney to essentially keep me from being audited in the first place. So, say I made 5 or 8 or 12 k overall with all the maniacal fun of buying and selling and converting crypto, plus a 3x gain on yellow, which I did put a few grand in, should I even bother declaring?
should I delete this question? This is all so I can follow the letter of the law, of course (hi again Bob!)
 
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S

Sharkbiscuit

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Subway said:
I don’t even bother I just assume I’m crushing it if the only time I sell is for a profit, even if modest, and I have made thousands more than I have spent this year. I assume coin base and ally have year end reporting for tax purposes. Sure as sh!t hope I don’t have to count all those trades myself. I would just pay an accountant at that point
Click to expand...
#YOLO
 
Subway

Subway

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tenover said:
That's another thing I'm worried about.
Click to expand...
But also, carpe the fukkin diem right”? You heard @Sharkbiscuit .. #YOLO. And I don’t want want to be a guy who didn’t at least dip a couple of toes (you can get by just fine missing a few toes) into what could be a revolutionary new way the decentralized financial world gets things done, and relatively novice traders like most of us can actually make real gains on this first proper and entrenched wave of crypto adoption and expansion. The last decade was the glimmer of a beginning. Now we are at a truer beginning. The telephone is no longer a novelty, because now millions of people own one. And there are BILLIONS more who are JUST about to get a telephone of their own
 
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r32

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Try BLOCKFOLIO app

Uses API keys to tie into your accounts and gives you good stats on your entire portfolio, even with diff exchanges. Obviously, NEVER give your API keys to anyone. And when you set up your API keys, make sure they are read only.
 
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Subway

Subway

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stringcheese said:
Just how high will it get before it eventually, as we all know it will, collapses to zero?
Interesting game.
Click to expand...
My GOODNESS has this thread and its participants evolved over the last 11 months alone. Check out some of the first couple of pages

also, after a quick google, both coin base and Ally send you a 1099 in January if you made more than $600. I don’t think they provide your various trades and moves that earned that cheddar, but I’m hoping they at least provide the overall number I gotta pay in taxes

or I guess I could spend an afternoon loading every..,single…trade I’ve made this year into that App mentioned above, and actually figure it all out myself and probably end up cutting Uncle Sam a check once I show that info, along with the 1099s, to my tax attorney. This really is the first year I’ve jumped into small-kind self directed trading of stocks, and only my first REAL foray into crypto, other than that LTC flash in the pan 5 years ago, certainly the first year I may have actually made myself 8-12 k in rec trading.. or I made like $9 and I am just that oblivious. But that can’t be true because I took a few grand profit after YELL tripled, and I know I took some profits on fetch and a few other ALTS
 
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R

r32

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End of year, I use this site for taxes. Simple. Tie your accounts and auto import all your trades. Gives you a downloadable PDF if you want. And their file exports directly into Turbo Tax. Cost around $50/year

bitcoin.tax

Calculate Bitcoin and Crypto Taxes for Capital Gains and Income

Calculate Bitcoin and crypto taxes of capital gains and income for Bitcoin, Ethererum, and other alt-coins from trading, spending, donations / tipping and mining.
bitcoin.tax bitcoin.tax

racer1 said:
Of the easy to use apps, Gemini is the only one that shows your cost basis. Uphold doesn’t.
Click to expand...
There are others but lesser known. Zenledger is becoming popular. I've not used it.

 
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Subway

Subway

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Yeah I may actually spend some of this flat chilly Saturday establishing my various costs basis (how do you pluralize that particular use of the word “basis” I truly don’t know. Bases? Basii? Lol) after all this movement in crypto land and my few ally holds. Cause I know that I did a lot of selling through the last few months I have also done some re-ups at various points at higher (or lower) prices so frankly they’re all over the place

I mean, I have 3 different entry points in YELL alone, and that’s a stoke, and I’ve traded it far fewer times than fetch or a couple other coins I’ve bought and sold over the year for profits but I know there are also some losses in there when I do all the math. Now I’m actually curious enough and knowing I’ll need this info anyway for tax time, may as well see if I’ve actually made 8 or 10k, or ultimately didn’t do squat except amuse myself on a couple of apps, and paid a bunch of Coinbase fees for my entertainment. Let the mathing begin
 
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grapedrink

grapedrink

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May 21, 2011
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grapedrink

grapedrink

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Rolled some modest profits into DeRace. NFT horse racing where you can breed, race and gamble on horses. $225M market cap and is on fire right now :beer: That could scale into something big.

Plus they are based out of Lithuania. Seems legit.

Hope some of you jumped on the CRO a few weeks back. If so, you’re welcome :beer:
 
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Subway

Subway

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I did and sold WAY too soon. Made money but I’ll be kicking myself for that for some time. Bought back in on a small dip this morning, just in case it keeps growing 20% every hour
 
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grapedrink

grapedrink

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Subway said:
I did and sold WAY too soon. Made money but I’ll be kicking myself for that for some time. Bought back in on a small dip this morning, just in case it keeps growing 20% every hour
Click to expand...
Like I mentioned before, I could see crypto dot com going bonkers. Staples center lease, podium sponsor on fox college football, Matt Damon as a spokesperson, very user friendly app and good coin selection. Binance is like using Netscape in comparison. Even if it matches BNB cap, that's a 5X from where it is now :beer:
 
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Subway

Subway

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Ok I’m buying more right now take all of money screw the mortgage refi (no just kidding I haven’t sunk that deep into crypto mania quite yet, I can buy some more CRO and still be liquid for my closing)
 
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