Uniswap/swapping crypto was the worst idea ever...

Uniswap/swapping crypto was the worst idea ever. Holy shit koinly says I have $239000 in gains and I don't even have NEAR that amount. All the shit I swapped out for a loss doesn't count? All the rugpulls coins that are no longer worth shit aren't tax deductible. Im fucking fucked

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Koinly is wrong then..?

Sell the rugpulled coins for a loss, in 2021

I haven't even connected my wallet yet. Guess I better get on that.

It counts any transfer from wallets I own as taxable events. Fuck that.
I did just find some fake coin that was sent to my metamask, once I removed that the gains went down by 20k. Watch out for weird coins appearing in your wallets anons.

I already did back in December. What Koinly is showing me doesn't look like it accounts for my losses.

Can't you mark them as non taxable transfers?

Chck this out. Date sold or disposed of. This is simply me sending eth to mm from cb. This should not be taxable

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hmm I'll give it a try thx user

I haven't even looked at mine yet, but I've been reading some posts about it. BTW, it seems to be bugged when you import into turbotax. They're supposedly working on it, but who knows what's going on.

Koinly is shit doesn’t factor in fees and gas correctly. I’m just not paying my taxes. Fuck the irs and fuck koinly. I will say that coin tracker seems a bit better but still fuck it.

Just calculate roughly how much you made / owe taxes on, add a couple k to be safe and submit. Fuck wasting all that time.

>coin tracker
I used bitcoin.tax my first year but that was a simple year.
Last time i used cointracker which was basically right after i made some adjustments. Will fo same again this year.

Fucking retard

Can you realistically do that?

im only giving the glowniggers my coinbase gains. why the fuck would you ever give them your metamask?

tax calculation apps think i made 400+ million dollars when i import my metamask due to rocketbunny. I literally got rugged kek. according to the IRS i owe 100m+

I owe quadrillions because of rebase coins

Thats tax evasion and you WILL go to prison for it.

Holy shit! Oh...man, thank you. that was so close. I almost went to prison. You saved me, bro.

Lol. Come and get me nigger

Your "income" isn't the same as your capital gains. "Income" will be fuckhuge because every trade is considered a taxable transaction.

Moving money doesn’t require you to pay taxes on it, you just have to report that you have that money basically. It’s not taxable unless you trade it. One gray area is moving coins from one blockchain to another, a wrapped version or even a bonded version of a coin…it’s the same coin and your not trading it since it’s literally the same asset, you could argue it’s a like kind exchange since it’s not really trading crypto to crypto. Literally the same asset.