I bought some bitcoin on coinbase. I transferred it to bittrex where I made over 400 trades that totaled way more than the original amount of bitcoin. Now, for tax purposes and relative to long term gains, is the original bitcoin gone even though I still have over half my account in bitcoin? Is it all short term gains from here on out as long as I do not buy more bitcoin with usd
? Would much appreciate any help.
Thanks.
How much money did you spend, on the Bitcoin?
That is the greatest factor in your case.
Stay safe! Good luck
A few hundred but about 500 small trades in a couple of months. Lots to keep track of. I have signed up with cointracking.info and am very pleased. They do the "impossible" of determining the dollar values of all trades and calculating income tax. Not much money now but I expect 2018 to be a busy crypto year for me and I hope to have my account grow at least as fast as it already has. All the best for the New Year.
Again governments strechting their greedy paws. Sorry can't be of help here considering moving to Belarus myself. Crypto Tax free for next 5 years.