Happy New Years Fellow Steemians!
As we roll into the new year I just wanted to post this friendly reminder (for our US based Steemians) that Uncle Sam wants his cut this year.
For those unfamiliar, cryptocurrency transactions are treated like securities and incur capital gain taxes. While it's unlikely that you'll be on the hook for unpaid capital gains in the short term, it's important to be mindful of how traceable your blockchain transactions are. For more information on how to handle capital gains on your cryptoassets, check out:
Another super helpful resource which lets you import all your trades from a variety exchanges, is bitcoin.tax. Check it out below:
While I don't fully agree that cryptocurrencies should be subject to the same taxes as more conventional securities, I am leery of the fact that the government is aware that many, many, did I forget to say many? people have made significant returns in this market and as such, will be working to get their "fair" share of the action.
Again, happy New Year to everyone. I'm sure 2018 will be a transformative year for the Steemian community and the crypto market as a whole.