Crypto to crypto tax

I report my cuckbase transactions.

What if I never cash out to fiat? Only stablecoins e.g. DAI, then I never pay taxes?

I used binance but I first needed to go through a canadian exchange to buy ETH. Thanks for the link

If they can figure out my wallet (which I'm sure they can) that won't work

Meant count living expenses as a "cost of business"

You know I bet crypto tax consulting is going to be a great business to get into.

>I can't get the full history of trades I made even if I wanted to, bunch of exchanges I used don't exist anymore
The IRS will have a hard time auditing you, then. Cash out what you need to if you're forced to, but otherwise keep it in the market. Remember that losses get written off.

>I can't get the full history of trades I made even if I wanted to, bunch of exchanges I used don't exist anymore.
Do the IRS have backups? How would they know?

yeah not YET. that's the problem, it could just suddenly happen and boom, you're paying years of backtaxes, penalties, and interest. WTF are you supposed to do if you are in OP's position

I'm not sure how it is over there, but typically you only pay tax on profits, and take a deductible on losses. So math up what you started with, math what you ended up with, and pay tax on the profits.

In my country you pay when you go to fiat, so it's not too bad.

Worst case is you get nailed with 0 adjusted cost basis on long term gains. If you can prove that the coins have been sitting in your wallets for more than a year then you should be able to work something out where you pay short term gains.

The difference should be getting taxed again on your initial.

>havent cashed out
>taxed for holding
You have to be lying.