Our portfolio company Coinbase launched some much needed tax tools this week.
I used them today to calculate our gains in 2017 and send the reports to our accountants.
The Coinbase tax center is here.
The tools look like this:
I generated all of those reports just now and sent them to my accountant so we can report the 2017 gains on our returns.
Sadly in 2015 and 2016, we had no gains. Some small losses which might offset a few of the 2017 gains, but not much.
2017, on the other hand, was a material year for us. The BCH fork generated real value and we sold some of that. We will be paying taxes on that shortly.
I tell you all of this because gains and losses on crypto trading is taxable income and you should declare it and pay the taxes.
That’s the law and it is important to comply.
