[Daily Discussion] - Tuesday, April 12, 2022

I needed good records to prove ownership. If I was audited I can show records going back to the beginning. I would say my records are 95% accurate, but that's because mtgox records were lost. I obtained all my bitcoins legally and the last thing i need in my life is the stress of a tax audit and investigation.

You need to keep records for losses too.

If you currently own a lot of bitcoin or crypto. You could start by trying to trace back using the blockchain to obtain the transaction data. Like I said before...

Or if you don't own many bitcoin or crypto, you could sell everything you have back to dollars transfer it to a bank, close all trading accounts. And start again with a clean Coinbase account and use koinly to do the record keeping.

/r/BitcoinMarkets Thread Parent