Re:Launch HN: Mudrex (YC W19) – Automated Trading Without Code
by pault on Saturday March 09, 2019 @02:47PM
(#19348060)
Sorry this is a bit off topic, but how do crypto traders manage their taxes? I am under the impression that crypto trading doesn't have any of the niceties that traditional securities trading has when it comes to taxes, e.g. only paying capital gains when you remove money from your trading account (maybe that is also incorrect, I have no experience with investing).
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Re:Launch HN: Mudrex (YC W19) – Automated Trading Without Code
by mindcandy on Saturday March 09, 2019 @03:20PM
(#19348242)
dislaimer: I'm not a tax lawyer. This is not advice. etc...
In general, trading crypto is taxed like trading stocks or any other commodity. So, when you trade some coins for something else, at that moment you owe tax on the difference in value between when you received vs. when you gave. Long term/short term capital gains and wash trade timing rules apply.
It gets pretty complicated when you have a trade where you are trading from a batch composed of multiple buys at difference price points in the past. Especially when you have to sort out the cap gains on the exchange fees you paid in crypto.
Re:Launch HN: Mudrex (YC W19) – Automated Trading Without Code
by rohitgoyal on Saturday March 09, 2019 @03:06PM
(#19348160)
There is another YC company which helps you manage taxes for cryptocurrency trading.
www.cointracker.io