
The Cryptocurrency Tax Problem – Why Exchanges Can't Provide Users with Tax Info - dkem1415
https://www.cryptotrader.tax/blog/cryptocurrency-tax-problem
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mtgx
> In this case, the solution to the cryptocurrency tax problem hinges on
> aggregating all of your cryptocurrency data making up your buys, sells,
> trades, air drops, forks, mined coins, exchanges, swaps, and received
> cryptocurrencies into one platform so that you can build out an accurate tax
> profile containing all necessary data.

No. The solution is or HAS TO BE a change in the law to simply taxing
cryptocurrency trades/investment. The currenct solution which has been
backdported from the stock market is completely unworkable for the
cryptocurrency world.

There needs to be a much simpler solution, like say taxing 15%-20% of the
money whenever you transfer money from crypto into USD, or even the reverse
(from USD into cryptocurrency) if the government believes the former is too
game-able. Heck, from the government's point of view, the latter may even be
preferable to what exists now, because they could see it as a disincentive to
buy crypto.

And yes, of course there will be ways to bypass these taxing system, just like
for anything else, including the current system.

