I reported my gain/loss to the IRS. I was punished for following the rules. I just didn't report well enough. I did't know what i was doing.
Discussion
Hm I don’t understand. If you have proper exchanges, how could it have been messed up? They log all the transactions? Or was yours really complex
Are you implying that exchanges are the only way to dispose of crypto.
At any time during 202x, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?
as asked on your tax return. This is no secret. I don't know what you don't understand.
Stop being a trader and answer no.
When can you answer ‘No’ to the 1040 virtual currency question?
You do not need to check ‘Yes’ to the virtual currency question if in 202X you only:
1. purchased cryptocurrency
2. held cryptocurrency in wallets or accounts
3. transferred crypto between self-owned or self-controlled wallets or accounts
