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Volume and Taxes

Timothy Clayton edited this page Mar 12, 2018 · 1 revision

WIP

  • Taxes will be complicated by running BlueCollar b/c of the number of transactions it performs. Form 8949 may be too large for what the tax software supports on upload. This form can however, as I understand it, be submitted in summary format instead of listing each and every transaction. Personally I would need a tax professional to do that for me.
  • One plus here is that when USD is the quote currency, the cost basis is clear. BlueCollar's activity/transaction history on the exchange, though sizable, should be straight forward for any tax professional or crypto tax software/service to handle easily and accurately.