02-15-2020, 02:12 AM
I’m a dumbass
<!-- SC_OFF --><div class="md"><p>Out of a great combination of ignorance and laziness, I didn’t report any crypto trades for December 2017–when I started buying/trading—or 2018. I knew that if I ever sold, I would pay taxes on that, but it was only in 2019 that I learned that trades are taxable events. </p> <p>I’ve lost money trading every year. Not a lot. I experimented with trading a little bit, but I mostly just buy and hold. I want to report my trades for my 2019 filing, and subsequently all my previous trades from 2017 and 2018. </p> <p>Basically, my question is: Is the IRS gonna fuck my shit up? And what can I do come clean with this? </p> <p>And like I said, I know I’m an dumb ass. Please be gentle with my moon boi soul.</p> <p>Edit: Thank you to everyone for your advice and solidarity! I will file a 1040x for 2018, and one 2017 just in case. Hopefully one day we can get a reasonable tax policy on this.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>Out of a great combination of ignorance and laziness, I didn’t report any crypto trades for December 2017–when I started buying/trading—or 2018. I knew that if I ever sold, I would pay taxes on that, but it was only in 2019 that I learned that trades are taxable events. </p> <p>I’ve lost money trading every year. Not a lot. I experimented with trading a little bit, but I mostly just buy and hold. I want to report my trades for my 2019 filing, and subsequently all my previous trades from 2017 and 2018. </p> <p>Basically, my question is: Is the IRS gonna fuck my shit up? And what can I do come clean with this? </p> <p>And like I said, I know I’m an dumb ass. Please be gentle with my moon boi soul.</p> <p>Edit: Thank you to everyone for your advice and solidarity! I will file a 1040x for 2018, and one 2017 just in case. Hopefully one day we can get a reasonable tax policy on this.</p> </div><!-- SC_ON --> Kind Regards R