02-03-2022, 05:09 PM
Filing taxes for Crypto makes me not want to trade crypto.
<!-- SC_OFF --><div class="md"><p>This past year I did a lot of crypto trading. I used a lot of different exchanges and within each exchange did quite a few trades. Having to go through each exchange, go through all the history, figure out the cost basis is kinda a pain, and now having to go back through all of it makes me not want to trade. Then on top of that the forms you need to fill out 1099- NEC, 8949, plus stuff on your actually return. Yes it was nice making some money (and losing some lol), but after going through all this work only to pay the Gov more money that they will just misuse is a little disheartening.</p> <p>Anyway just wanted to vent a little.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/LeafyLorax"> /u/LeafyLorax </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sj6ubk/filing_taxes_for_crypto_makes_me_not_want_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sj6ubk/filing_taxes_for_crypto_makes_me_not_want_to/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>This past year I did a lot of crypto trading. I used a lot of different exchanges and within each exchange did quite a few trades. Having to go through each exchange, go through all the history, figure out the cost basis is kinda a pain, and now having to go back through all of it makes me not want to trade. Then on top of that the forms you need to fill out 1099- NEC, 8949, plus stuff on your actually return. Yes it was nice making some money (and losing some lol), but after going through all this work only to pay the Gov more money that they will just misuse is a little disheartening.</p> <p>Anyway just wanted to vent a little.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/LeafyLorax"> /u/LeafyLorax </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sj6ubk/filing_taxes_for_crypto_makes_me_not_want_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sj6ubk/filing_taxes_for_crypto_makes_me_not_want_to/">[comments]</a></span>Kind Regards R