But I never exchanged it back into fiat, I only kept it in crypto!… Still yes.
The government hasn’t even given us the rules on how to do it yet! Shouldn’t I wait?… Can’t really argue with you there, but no, you should still file. This particular reason is why we here at The Coin Boys, a cryptocurrency podcast, contacted Zac McClure with TokenTax.co and he was able to give us a little insight to what’s going on. You can take a listen to the episode here.
Regardless of how you feel about taxes, the truth is Bitcoin, Ethereum, and all other Cryptos will not be adopted unless governments can somehow get their cut. So it’s better to be safe than sorry. The question is, what should we be doing now to prepare for taxes?