TBI’s Crypto Tax Guide

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TBI - October 1, 2018

I spent a bunch of time this beautiful sunny Sunday trying to figure out my crypto tax liability in the good ole US of A. No dice, yet, but I feel like I made progress.

I know you’ve probably got burning questions (as does my wife) as to why I’m doing this in early October vs. April. Let me explain.

Q1: Why didn’t you just hire someone?

A1: First, because I’ve done my own taxes almost every year to date, and have found I’m better at proactive tax planning than deferring to a paid-by-the-hour consultant. Second, because I like getting angry about the process itself. I don’t mind paying taxes, I mind having to pay to pay my taxes - in time, money, and anxiety over potentially one day enduring the soul suck of an audit. It reminds me that the work we’re doing in crypto is important - viva la revolucion. Third, I wrote the crypto tax 101 post that still tops the SEO charts for “bitcoin tax guide” so am a crypto tax thought leader.

That said, this is the last year I put up with this crap.