If I give AI my Cash App 1099 for Bitcoin will the AI do the Calculations of my buys and sells
Do this manually seems very very tedious work.
Yeah, we say fuck taxes, but I live in the u. S.A. and I don't wanna be like that old man, that is a millionaire, and he might be going to jail.
Just dont sell.
No taxes
/problem
Yeah, I didn't know any of this 2-3 years ago
Now im buy gift cards from my own wallet and not from strike or cashapp because i believe they record that as a sell.
Not much of a seller but did for a car right before the new year
I had a plan to use some of my corn to get a car, and pay off the house if we hit 100k. I chose to just do the car.
I made a plan a while ago, and I executed. And I'm happy.
Id rather report and give them 2k instead of them come sniffing around.
Doing the tax reporting isn't terrible if you can utilize Google sheets or excel and do some cell formula stuff.
DM me if you end up doing it solo. Not really that bad to get a cost basis and stuff for reporting.
What tax software are you using? If it's all on one exchange you can likely just import your 1099 and it'll calculate all your tax lots.
Now if you have like six exchanges, credit card rewards paid in bitcoin, eth that was swapped for bitcoin, then it becomes a huge mess.
No I only have all Bitcoin, one exchange. That's actually the good thing.
Im not using any software. Does some like this exist.
What do you use to file your taxes? Do you not electronically file? I haven't used it but even cash app has direct filing at cash.app/taxes
Since it's just a 1099 you should be able to just use TurboTax or any service, though you may pay $60 or something to efile. The hard part is making sure you have an accurate 1099, which it sounds like you have already.
Ohhh soo im stressing for nothing. I haven't filed in like 3-4 years tgats why. I think i should do something about that hahaha
