gribble on Nostr: There doesn't exist any good tax software for monero. I would have to do it all ...
There doesn't exist any good tax software for monero. I would have to do it all manually. Also, i wouldn't have any proof for the IRS that they would be willing to accept. In my last audit they were not willing to accept my proof of ownership of bitcoin at a specific date. Instead, they made me trace it all the back to an exchange as if that was the only way i could have aquired my BTC. If i couldn't trace it, then they taxed it as income. In fact, anything that i couldn't trace back to an exchange was treated as income, even if i was transfering between wallets and had thrown away the seeds because they were empty. This went on for 3 years until they were no longer allowed to continue the audit because audits can't exceex 3 years. The end result was a fat bill that will take forever to pay off.
Published at
2024-03-01 22:40:23Event JSON
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"content": "There doesn't exist any good tax software for monero. I would have to do it all manually. Also, i wouldn't have any proof for the IRS that they would be willing to accept. In my last audit they were not willing to accept my proof of ownership of bitcoin at a specific date. Instead, they made me trace it all the back to an exchange as if that was the only way i could have aquired my BTC. If i couldn't trace it, then they taxed it as income. In fact, anything that i couldn't trace back to an exchange was treated as income, even if i was transfering between wallets and had thrown away the seeds because they were empty. This went on for 3 years until they were no longer allowed to continue the audit because audits can't exceex 3 years. The end result was a fat bill that will take forever to pay off.",
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