Bitcoin income tax

Reddit coinbase alternatives

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How to buy bitcoins online anonymously

Taxpayers could choose to assign their cost basis under a different method, such as Last In, First Out LIFO , but this approach typically makes little sense because they would likely end up with a larger tax bill. These new coins count as a taxable event, causing you to pay taxes on these virtual coins. If you only have a few dozen trades, you can record your trades by hand.