You dont win because the government is stupid. This is creating your record for yourself. So, if in the future, the IRS audits you, you can produce your allocations to demonstrate that your cost basis was calculated properly from a reliable record. You dont have to send them anything now and you certainly don't have to create a record that discloses more than it absolutely has to. Mine, for example, does not include addresses or public keys, or anything like that. Maybe the IRS will not believe me in the future but nothing Ive seen requires such information to be a part of the allocation but of course they haven't provided any good guidance. In short, the IRS has always put the burden on the tax payer to get it right, any errors are resolved to the benefit of the government, so its always been clown world incompetence, but thats the state of things.
Discussion
Yeah. So, I'm gonna be screwed either way, so, I opt to not do any of that.
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Ignorance is never better than knowledge.
I'm not ignorant, just principled.
BTC is not meant for complying with any authority.
We’re on the same team mate
Sure, but I don't need to like that you want to jump through hoops to make it easier for the fedgov to bend you over.
What should be my first gun purchase
A 16" barreled basic ar15 with at least 10 non-plastic 30 round magazines and 1000 rounds of m193 ammo.
If not that, then a Mossberg shotgun with at least a five round capacity, no longer than 21" in barrel length.
If not that, then a basic 9mm pistol, 1k rounds of 124gr NATO spec ammo and then 200 rounds of a good hollow-point defensive ammo, also with 10 magazines from the OEM.
#asknostr