How to file tax? Can anyone help? | Bitcointalksearch.org

happyfathersday

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Quote from: NavI_027 on April 18, 2019, 07:47:13 PM

Quote from: sann111 on April 07, 2019, 06:33:17 PM

I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

Ow! Seems cointracking.info doesn't help you a lot then why don't you try to the second option from the link given to you by avikz on one of your threads, try to consult an expert regarding this matter (other respondents are right).

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BitHodler

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Quote from: goaldigger on June 25, 2019, 10:01:41 PM

Honestly, I didn't know anything about filing bitcoin tax because our country doesn't require us to do so.

I doubt that your country exempts you from taxation on Bitcoin. They might not specifically mention Bitcoin or crypto currencies by name, but that doesn't mean you are free to not report your gains and whatnot.

I have seen a lot people here say that Bitcoin needs to be regulated or legalized in order to be taxed, but that's not the case. These people have probably never paid tax yet which could explain their ignorance in that field.

May I know what country you're from? I would like to have a look if you're right or not. It's quite dangerous to not know how taxation works in a time where agencies fish for data from exchanges about their users.

diazepam666

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I am not sure how it can be done for taxation so that I have done the research about it and found one article says how you do that. Please follow the below link for complete information.

https://www.investopedia.com/tech/how-prepare-bitcoin-tax-filing/
Taxation charges will be change according to the country standards in taxation.

nowlscor18

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Tax filing on fiat business can be done through government pre requisition depending on the nature of establishment. But with bitcoin taxation, I had no proper idea about that because only the country's local trading site only will have permit on tax will be applied and not the traders as well. Though securing tax application wasn't that difficult as long as you're capable and could comply the need requirements.

goaldigger

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Quote from: sann111 on April 07, 2019, 06:33:17 PM

I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

Honestly, I didn't know anything about filing bitcoin tax because our country doesn't require us to do so. Not yet. It would be a great help if you state the country you are living to have a better research and can help you more accurately but i hope this link could help you. I just assume your living in the US but i guess it is somehow related to other country's tax filing process.

https://www.theverge.com/2018/1/29/16928768/cryptocurrency-bitcoin-how-to-file-taxes-2018-return-compliance-irs

NavI_027

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Quote from: sann111 on April 07, 2019, 06:33:17 PM

I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

Ow! Seems cointracking.info doesn't help you a lot then why don't you try to the second option from the link given to you by avikz on one of your threads, try to consult an expert regarding this matter (other respondents are right).

Here, I quote this important part from the article.

Quote from: ?? on ??

Check out cloud tv apk it has hundreds of free live channels.

Your post is inappropriate in the topic, you should move it to somewhere else.

carlfebz2

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Quote from: erikalui on April 14, 2019, 09:06:54 AM

The best thing to do is just visit a good CA who has information on crypto taxes and don't ask for advise online. People can misguide you.

Best thing to be done yet there are people who are just commenting without having any knowledge when it comes to legal aspect. When it comes to taxation laws each country are different
thats why asking some local experts on his place will be a better option for him.

erikalui

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The best thing to do is just visit a good CA who has information on crypto taxes and don't ask for advise online. People can misguide you.

mich

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Quote from: mich on April 07, 2019, 07:09:54 PM

Best suggestion since you are new to doing this is to ask an expert accountant.
The last thing you want to be accused of is not paying your taxes on Bitcoin just because of any subtle confusion.

Definitely, the IRS is not one to be kind, watch out and make sure you have someone experienced helping you along.

Not only is the IRS not kind but they wont accept your excuse that you werent sure the proper way to pay taxes with your crypto.
They will expect you to do your own research as you are and come up with a solution to pay what you owe.

alisafidel58

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The best possible solution to your problem is that you need to find an accountant. I think that you need to put all the info that you gain from trading even if it's withdrawn or sold because with that information your tax will be based at. Contact cointracking.info support on which information you should put when filing taxes.

Haunebu

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Quote from: Ipwich on April 08, 2019, 03:21:07 AM

Different countries might have different taxation regulation on crypto but we all have to pay our tax as required.

This is partially true. Some countries regulated the cryptocurrency market as they deemed fit while some outright banned them and some accepted them as legal tender which is why your assumption that all countries require us to pay taxes on Bitcoin is false.

People are trading cryptocurrencies successfully in some countries and do not pay any taxes whatsoever.

susila_bai

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Quote from: sann111 on April 07, 2019, 06:33:17 PM

I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

First thing how did you received the coins in coinbase, did you purchased using fiat or you got bounty rewards and you are using coinbase wallet as deposit option. Because without input you cannot show output. Once you have withdrawn and it is showing withdraw in your transaction then you have to show where you send and what you did. So each and every transaction you have to show if you are living in Crypto taxable country. As if it is not legal to use crypto in your country then be carefull in filling taxation.

Ipwich

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Quote from: mich on April 07, 2019, 07:09:54 PM

Best suggestion since you are new to doing this is to ask an expert accountant.
The last thing you want to be accused of is not paying your taxes on Bitcoin just because of any subtle confusion.

This is way safer because tax liability could lead to a serious trouble if not remitted properly.
I am not paying taxes like OP but I'm okay with the suggestion since it's a very serious matters, maybe in the future this thread
would be helpful to me if we will be oblige to pay some taxes.

Different countries might have different taxation regulation on crypto but we all have to pay our tax as required.

traderethereum

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The best thing you can do is try to contact the Coinbase support system and let them explain to you. And you need to contacting cointracking.info too so you can get another answer and I am sure that they can give the right answer to you as they are the exchanges you use. Personally, I don't use Coinbase, and I don't have to pay the tax unless the tax that I need to pay in every month in my bank account and another tax from my government.

Meysa_richa

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I think you need to report the information, because the information is a report on your coins or payment, and it's more efficient.

Ailmand

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Quote from: sann111 on April 07, 2019, 06:33:17 PM

I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

It is best if you will inquire on the government agency responsible for collecting taxes in your country or consult a certified accountant to guide and help you on filing your tax on crypto.

mich

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Best suggestion since you are new to doing this is to ask an expert accountant.
The last thing you want to be accused of is not paying your taxes on Bitcoin just because of any subtle confusion.

sann111

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Quote from: rodel caling on April 07, 2019, 06:45:21 PM

Quote from: sann111 on April 07, 2019, 06:33:17 PM

I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

I can't encounter that already since i use coinbase, I think you need to update and verify your account submitting all necessary document asking of the coinbase management to make easy withdrawal and transaction.

I have the transactions report form, I just need to know how to put this on which form each of these transactions and transfered ones.

rodel caling

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Quote from: sann111 on April 07, 2019, 06:33:17 PM

I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

I can't encounter that already since i use coinbase, I think you need to update and verify your account submitting all necessary document asking of the coinbase management to make easy withdrawal and transaction.

sann111

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Activity: 196

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I am trying to use cointracking.info to put in the tax report I generated on coinbase. I have transfered to other wallets and then back to coinbase, do I need to put this info, how do I put this without it appearing as withdrawn/sold?

Any help would be appreciated, need to file tax, kinda late.

Topic: How to file tax? Can anyone help? (Read 306 times)