gm
This seems important: [What US Taxpayers With Crypto NEED to do before Dec 31, 2024 - Get into the Safeharbor!](https://www.youtube.com/watch?v=M1XPOFgjNPk)
We have a window to do a 'reset' for tax purposes. One more reason to get your coins off of the exchanges; but he also recommends that we consolidate all of our corn into a **single wallet** and lock down its cost basis for all future transactions -- watch the video to find out why.
He also introduced me to https://opentimestamps.org which is a pretty cool way to verify, via the bitcoin blockchain, that a file existed at a certain time (without uploading its contents to any servers).
oh and by the way? #EEndTheIRS #EndTheFed
From JW Weatherman on this:
Ok, this is definitely just scammer bull shit as I’d expect from Andreas. Ask your accountant what to do if your 1099-B is incorrect and they will tell you it doesn’t matter at all. Brokers can get a tiny fine for screwing it up, but you can’t and brokers hardly care themselves.
...from the great aantonop? really? 🤔
Yeah, he has been so apologetic for altcoins. I get why JW doesn’t trust him as much at this point. I havent had a chance to talk to a CPA right around Christmas. Haha
I don't know, I listened to the entire thing and it seems like a legit concern - [link](https://www.irs.gov/newsroom/final-regulations-and-related-irs-guidance-for-reporting-by-brokers-on-sales-and-exchanges-of-digital-assets) - not providing a way to tell brokers/exchanges your true cost basis could have a significant and unexpected impact on future capital gain/loss calculations. Losing the ability to do cross-wallet 'specific identification' for cost basis determination seems like kind of a big deal to me, but YMMV. 🤙🏻
