Crypto Tax Series “E-Book” February 2018 Edition (U.S.)

This E-Book is geared towards U.S. citizens and covers tax reporting from the perspective of (1) a cryptocurrency investor, (2) a Steemit author and (3) a cryptocurrency miner. Thanks for Reading! - @CryptoTax

Note: Feel free to scroll past the updates sections to find the click-through Table of Contents. Look for the Book Icon.

Updated since the 2017 Edition

The final 2017 edition was released approximately 2 months ago, the February 2018 version is updated for many new Sections/appendices that were published:

• Part I-A: Discussion of 2017 versus 2018 like kind exchanges (due to tax reform)
• Part I-A: Discussion of GBTC (Bitcoin ETF) Basic Considerations
• Part I-A: Discussion of personal loss limitation rules
• Part I-B: Steemit Tax Considerations of getting "Flagged" resulting a reduced award during the "vesting" period
• Part IV: Discussion of "Securities" in light of the Senate hearing
• Part V: Taxation of Crypto Kitties
• Part V: Extension filing

Planned 2018 Updates

I get very ambitious and have more ideas than I have time to write. Tax reform also caused the need to double back on prior guides, versus cover new content right away. Nevertheless, here are the planned 2018 articles:

• Continued development of current debt
• Deductions for miners
• Tax implications of cloud mining
• Review of cryptocurrency software solutions
• Considerations for staking and running nodes
• Considerations for start-up company ICO's (to the companies and their employees)
• Foreign bank/asset reporting

Please find the "E-book" below.

Crypto Tax E-Book – 2018 Edition - V1

Crypto Tax E-Book – 2018 Edition - V1

Introduction To Series

https://steemit.com/finance/@cryptotax/crypto-and-tax-why-it-matters-and-what-you-need-to-know-intro-to-series

Part I-A – U.S. Tax Consequences of Holding Crypto for Investment

Section #1 (General): https://steemit.com/money/@cryptotax/crypto-tax-blog-investing-in-bitcoin-let-s-learn-u-s-tax-rules-part-i-a

Appendix A (Securities): https://steemit.com/money/@cryptotax/your-ico-tokens-may-be-securities-does-it-impact-your-u-s-taxes

Appendix B (Examples): https://steemit.com/money/@cryptotax/bitcoin-taxes-help-me-please

Appendix C (Loss from Theft/Ponzi) https://steemit.com/money/@cryptotax/was-your-bitcoin-stolen-potential-tax-benefits-for-your-loss

Section #2 -GBTC ETF Considerations (Generall): https://steemit.com/bitcoin/@cryptotax/bitcoin-investment-trust-gbtc-not-as-simple-as-owning-a-stock

Section #3 - Discussion of 2017 and 2018 Like-Kind Exchanges (General): https://steemit.com/bitcoin/@cryptotax/most-common-wrong-answer-for-u-s-crypto-investors-2017-tax-season-like-kind-exchanges

Appendix D (Like Kind Exchanges for 2017 and prior): https://steemit.com/money/@cryptotax/cryptocurrency-like-kind-exchanges-what-can-we-learn-from-gold

Section 4 - Assessing Loss Limitations (General): https://steemit.com/bitcoin/@cryptotax/used-your-bitcoin-on-a-new-lambo-tv-bitcoin-personal-tax-loss-limitations

Part I-B – U.S. Tax Consequences of Performing Services for Crypto

Section 1 (General): https://steemit.com/steemit/@cryptotax/are-steemit-author-and-curation-rewards-taxable-usa-edition

Appendix A (Tax considerations of being Flagged): https://steemit.com/steemit/@cryptotax/have-you-been-flagged-do-you-still-have-to-pay-taxes-on-your-upvotes

Section 2 (Deeper Analysis): https://steemit.com/steem/@cryptotax/are-steemit-rewards-taxable-in-the-usa-part-2

Section 3 (Examples): https://steemit.com/steemit/@cryptotax/crunching-the-numbers-example-of-how-to-calculate-taxable-income-on-your-steemit-author-rewards-usa

Section 4 (Steem Dollar Update): https://steemit.com/steemit/@cryptotax/for-u-s-steemit-authors-the-new-steem-dollar-sbd-tax-dilemna-because-it-couldn-t-get-any-more-complicated

Part II – U.S. Tax Consequences of Hard Forks and Air Drops

Section 1: https://steemit.com/money/@cryptotax/bitcoin-cash-a-few-u-s-tax-possibilities-crypto-tax-blog-primer-to-part-ii

Appendix A -Bitcoin Gold Fork: https://steemit.com/money/@cryptotax/is-bitcoin-gold-is-taxable-in-the-u-s

Appendix B - Related (Tax Fork Concept): https://steemit.com/bitcoin/@cryptotax/using-blockchain-to-pay-tax-debts-can-a-bitcoin-tax-fork-btax-pay-your-tax-bill

Part III – U.S. Tax Consequence of Mining

Section 1 (General): https://steemit.com/money/@cryptotax/bitcoin-earned-from-mining-is-taxable-income-how-to-calculate

Part IV – Current Events

November 2017 – Coinbase Update: https://steemit.com/bitcoin/@cryptotax/an-update-for-coinbase-users-and-why-you-should-follow-this-tax-blog

February 2018 - Senate Hearing Update: https://steemit.com/bitcoin/@cryptotax/tax-implications-of-trading-ico-tokens-impacts-to-2017-tax-season

Part V – Miscellaneous

Appendix A - Individual Extension Filing Rules: https://steemit.com/money/@cryptotax/need-additional-time-to-nail-down-crypto-taxes-file-an-extension

Appendix B - Crypto Kitties: https://steemit.com/cryptokitties/@cryptotax/cryptokitties-are-collectible-breedable-adorable-and-taxable

Appendix C - Are you Taxed like a CEO? https://steemit.com/money/@cryptotax/are-you-taxed-like-a-ceo

Disclaimer: This series contains general discussion of U.S. taxes in a developing and unclear area of tax law. As always, you should consult your own tax advisor in your jurisdiction to determine your specific situation as this is not personal advice; and consider any future guidance by the Congress/IRS after the date of this article. Under Circular 230 to the extent it applies, this article cannot be used or relied on to avoid any tax or penalties in the U.S., its States or any other jurisdictions. This post/book does not create a client relationship between the author and the reader.

Picture Credit
https://pixabay.com/en/users/Clker-Free-Vector-Images-3736/