CryptoAmigo456

@CryptoTaxFixer The biggest tax issue has been airdrop/staking gains. Airdrops almost always go down in value after initial release. You feel forced to sell and avoid paying more in taxes than the coins are worth next year. Could be the same for staking gains. Also, confused on dates of receipt.

🚨My company is going to put together a proposal or recommendation for tax amnesty for cryptocurrency traders who have not reported all of their income. This proposal would go to the Taxpayer Advocate’s office and could become part of Erin M. Collins annual report to Congress, where she identifies the most important problems in the tax system that need to be addressed. This is a very important forum, and I think she is the right person to communicate these issues. I’m looking for people to provide constructive comments in the post below. Let me know what you think needs to be done to provide amnesty and help people become compliant. I’m not looking for silly comments about how crooked the IRS is or anything like that. I’m looking for constructive comments. Specifically, I want to know what has kept people from reporting all of their crypto income in the past. What difficulties have you, or people you know, faced when trying to report crypto income properly? What could the IRS do to help people come in from the cold? One program the IRS has used in the past is to say, “If you report the last three years, we will forget everything before that. You just need to report those three years and possibly pay a 20% penalty.” That is a typical type of amnesty program. But I think crypto needs something different. I’m interested in everyone’s comments. I will read them all. We will look closely at the obstacles people are facing and the suggestions people have for helping taxpayers become compliant this year and in future years. So, please share your thoughts.

@CryptoTaxFixer Do you have to include the 1099-DAs in your filing if you've already reconciled them against your records and include all of that transaction information to support the Form 8949?

A lot of people are struggling with Form 1099-DA, especially when they have multiple exchanges and are also using crypto tax software. The numbers don’t match, and that’s where the confusion starts. Here’s the short answer: You do need to account for all your 1099-DAs on your tax return. The IRS sees this data when your return is electronically filed, so you want to show that you considered it. But you should not rely on it as your final calculation. Instead, you adjust it. On Form 8949, you subtract out the gains reported on the 1099-DAs as an adjustment, and then replace those numbers with the output from your crypto tax software. That result is typically more accurate. Why? Because the 1099-DA is often wrong or incomplete. And that’s not entirely accidental. The reporting rules that brokers follow are different from the rules you, as a taxpayer, must follow. Here’s a simple example Let’s say you bought $eth two years ago and moved it to a private wallet. Later, you bought more Ethereum on Coinbase. Then you move your older Ethereum back onto Coinbase. Coinbase does not know the original cost basis of that older Ethereum. So when you sell, Coinbase assumes you are selling the assets with unknown cost basis first. That often gets reported as a short-term gain. But in reality, that asset may be long-term, which has very different tax treatment. Here’s the key point: Under the tax rules you must follow, you are required to use your actual acquisition dates and cost basis, not what the exchange reports. So your reporting can legitimately differ from the 1099-DA. That’s why the numbers don’t match. The 1099-DA is not a complete or authoritative record. It’s a partial snapshot based on limited data. Your job is to report the correct capital gains based on your full transaction history. So yes, include it. But adjust it. And, rely on your own records and software to get to the correct answer.

@NFAdotcrypto I Googled "589 Threshold" and got this bankruptcy adjustment act, sponsored by Iowa senator Grassley. Guess where Captain Kirk was born? Better yet, 5+8+9=22. Have a look at Kirk's birthday..

Today marks the 589th day of the NFA Research Group. 🥳 So here’s a mind-blowing 589 find… Wait until the end — trust me 🤯

Even though it's depressing to see the world for what it is.... it's also like watching live action Game of Thrones with Dolby surround.

Bitcoins achellis heel....🤔

The comments are hilarious...

@leadlagreport Please elaborate on the mechanics of XRP benefiting from the carry trade collapse. Great interview!

You should watch this. They will fucking crash everything to save bonds.

If an American worker was making 20 dollars an hour in 2020 he was making one oz of silver an hour. If that same worker DOUBLED his hourly to 40 an hour in 2026 hrs he is now making less than 1/2 oz of silver an hour. If someone bout a house in 2019 for 1 million dollars that would cost 830 oz of gold. If that same house skyrocketed to 2.5 million dollars in 2026 he could sell his house for 543 oz of gold taking a massive loss.

@KriegVII Not worried. I actually nibbled a little XDC & Flare today.

@CAmigo456 Don't worry.

Not yet, almost there! Psychological Challenge.

Distrust of exchanges...

The bots really want us to buy Zcash.

@themarketsniper @TheResetSniper @TheCryptoSniper x.com/CAmigo456/stat…

@themarketsniper @TheResetSniper @TheCryptoSniper 10/10/2025 ♾️ 1/1/9

Tariff re-heat to crypto narrative is like the 911 airline shorts, same people too. @theresetsniper @TheCryptoSniper

@themarketsniper @TheResetSniper @TheCryptoSniper x.com/CAmigo456/stat…

@themarketsniper @TheResetSniper @TheCryptoSniper x.com/WatcherGuru/st…