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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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28613211 No.28613211 [Reply] [Original]

how do i report crypto taxes as a college student
i've never done a tax return ever in my life

>> No.28614290
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28614290

i can't believe nobody has the same problem as me

>> No.28615516

>>28614290
well my country is a shithole and doesnt know what a cryto is
Thats why i dont pay any taxes

>> No.28615659

>>28615516
i'm in the U.S. so i know the IRS will eventually be on my ass

>> No.28615695
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28615695

Wish I could help

Don't plan on withdrawing till after college

>> No.28615887

>>28615659
Use koinly and make the account with a throw away email, like ProtonMail. Did that, linked my wallets and it does all the transactions and calculates your capital gains. I double checked mine to ensure there was no bullshit assumptions and it seemed to be just fine. Tax forms can be printed if you pay for the service. Which you can pay with crypto.

>> No.28616289

>>28615695
Yeah I wish I was smart like you and just held what I had but I often withdrew when I needed the money.
>>28615887
I got koinly a few weeks back and it's all setup, but how am I supposed to file?
I was going to use turbotax but it's like $70 if I want to file crypto taxes in particular (i.e. Premier service), and I still need to do 2019's as well which is like another $100 (not to mention the late fees/interest I'll have to pay on the taxes themselves).

>> No.28616626

>>28616289
The tax forms are what the tax man wants. Using a service like fucking turbo tax or H&R Block is for people with simple taxes. They might be able to help since you will have to forms, but you will want to speak to someone directly.

>> No.28617595

>>28613211

If you're in the USA: Line 13 on your 1040 form, complete a Schedule D.