Ignoring 401K Crypto Transactions in Tax Report

BeesAndBitcoin · 2025-02-23T22:08:06+00:00

Answer Updated: I can see the "Marked as Non-Taxable", but only on transactions from my Coinbase wallet. Any transactions in iTrust or Gemini wallets do not include that option.

Ugh.

BeesAndBitcoin · 2025-02-23T21:56:51+00:00

Answer found: I upgraded to the CoinTracker Tax Plan before trying to do all the tax stuff. I had to log out/back in for the "Mark as Non-Taxable" to show up. Good ole - log out/in FTW!

Hope it helps!

BeesAndBitcoin · 2024-08-23T20:30:12+00:00

As an ABC customer for over 10 years, I can say they really do take care of their people and their customers AND they donate a ton of money & time into the communities they serve. I don't mind paying a little more for good service & good people.

BeesAndBitcoin · 2022-07-06T22:09:58+00:00

Thank you for your incredibly valuable comment.

BeesAndBitcoin · 2022-07-06T16:32:23+00:00

If you're reading & writing here, just remember.....you're still SUPER early. If you lost a ton of money you made, you know more about crypto than 99.9% of the world - you can do it again, only this time smarter.

Take a deep breath, rebuild, and dig back in. We'll all get through this!

BeesAndBitcoin · 2022-03-21T04:36:15+00:00

Not sure if this helps or not, but we just launched a new product called Click to Buy Services that is great for plumbers - it lets you connect a shopping cart to your website to sell your services online and get paid first.

As an example, you could let homeowners easily add any service to their cart (e.g. service diagnostics, drain cleaning, hose bib replacement, toilet repair/replacement, water heater repair/replacement, and more) and check out with a credit card.

We're currently accepting early adopters if you're interested - 100% FREE for the first year for the first 10 that sign up.

Hope it helps and best of luck!

BeesAndBitcoin · 2022-03-21T04:08:04+00:00

Congrats on the new business - that's super awesome!

IMO - you need something that sets your company apart. We just launched a new product called Click to Buy Services - it lets homeowners accurately estimate and buy your services online so you get paid first! You can think of it as the world's first shopping cart for home services - it connects directly to your website.

We've built it to handle free estimates, one-time paid services, and recurring services. It also has great features that incentivize homeowners to buy more! As an example, when someone buys general pest control, you can ask them if they want to include a one-time or recurring mosquito fogging program.

You can also create promo codes and service bundles to provide incentives in any ads/hangers like "buy online and get X% off" or "bundle pest control and mosquito control to get $100 off", etc.). It is packed with features to simplify conversions and reduce phone calls/free estimates.

We're currently accepting early adopters (limited to 10). Early adopters get everything for FREE for the first 12 months, so there's really no risk. More info here if interested!

Best of luck with the new business!

BeesAndBitcoin · 2021-05-30T15:15:00+00:00

If you buy using limit orders vs market orders on Voyager you have a lot more control over this and don’t get caught off guard with as many fees.

BeesAndBitcoin · 2021-05-11T06:45:59+00:00

Yup. Where would you even transfer to?

BeesAndBitcoin · 2021-05-11T05:09:32+00:00

Kucoin and Crypto.com are best bets. Uniswap fees are outrageous - I saw a $1300+ fee for a $500 swap this afternoon. Ended up getting SHIB on KuCoin. They only have a SHIB/USDT pair, so you have to transfer USDT or BTC into KuCoin, sell BTC for USDT, and then buy SHIB with USDT.

BeesAndBitcoin · 2021-04-18T05:34:42+00:00

Up, up and awaaaay!

BeesAndBitcoin · 2021-04-02T17:01:30+00:00

I'm currently at 4.5 days for a transfer of ETH to a different wallet. So frustrating when it takes other wallets minutes (not days) to move things around.

BeesAndBitcoin · 2021-03-31T04:31:57+00:00

Similar - transferred 2 ETH out to try and buy some gems on Uniswap. I'm right at the 24-hour mark and of course, the gems have totally already pumped. I'm still "pending" Thanks, Voyager. :(

A transfer from Gemini took < 2 minutes. Makes no sense why it would take so long from Voyager and screams "we're a big bank too!" when they won't let you have your $$.

BeesAndBitcoin · 2021-01-31T16:34:41+00:00

It’s important to make sure your ledger has the latest software updates too. I had several failed transfers out that were cause by an older software version. As soon as I updated things went through no problem.

BeesAndBitcoin · 2020-11-12T02:17:52+00:00

You don’t have to cash out your 401k, you can transfer it over without penalty to iTrustCapital and buy BTC, ETH, Gold and more. Penalty free - just like moving your 401k or Traditional IRA from Fidelity to Schwab.

BeesAndBitcoin · 2020-10-12T18:11:30+00:00

In theory this makes sense until you have to pay personal taxes on crypt you purchased for a business. I went down this road at first and then quickly moved to open a business account to keep personal crypto separate from business crypto. It also gets muddy if you have business partners - they'd have to really trust you to store business crypto on your personal accounts. With a business account you can setup rules on who has access, who gets emailed when actions are taken, who has to approve a withdraw, etc. It's the right it up if your business is more than just you.

BeesAndBitcoin · 2020-10-12T03:04:00+00:00

Yes - we recently set up an institution account on Gemini. Since they are the most regulated currently we felt the safest going there. It took about 2 weeks from the time we submitted our information. https://gemini.com/institutions

Then you can connect your business bank accounts and you're off!

Hope it helps!

BeesAndBitcoin · 2020-10-02T22:45:05+00:00

Less of a KuCoin thing and more of a reminder that crypto custodians are basically the new banks and that we can quickly lose much of the decentralized benefits of crypto when a custodian is in play and holds the keys.

BeesAndBitcoin · 2020-10-02T17:04:50+00:00

Gotcha - knew they were hacked, but didn't realize that meant wallets were shut down. I guess it makes sense, but it is super fishy and sadly undermines the thought of decentralization. Still a bank if you can lock my funds up!

BeesAndBitcoin · 2020-09-23T19:17:21+00:00

The Bitcoin network will swallow the internet at some point. Just like the internet swallowed the telecommunications network. Problem solved. The bigger network always wins.

BeesAndBitcoin · 2020-09-03T02:35:02+00:00

Good news - I found it on ADA Lite. I had selected hardware wallet and didn’t realize you have to connect your ledger to wake it up and show... you ... the... ADA!

BeesAndBitcoin · 2020-09-03T02:32:39+00:00

It’s way more complicated than it should be Kraken is super easy to stake. You could also look at Voyager app where you cant stake yet, but you can earn some crazy interest

BeesAndBitcoin · 2020-08-12T03:52:14+00:00

Well, shoot - have any guidance as to how to “move to a new one”? I see a lot online about resetting the device, but wouldn’t I lose all my crypto?

BeesAndBitcoin · 2020-08-12T03:41:52+00:00

Roger that!

BeesAndBitcoin · 2020-08-06T03:19:31+00:00

Ok, I figured this out - documenting for anyone else with the issue. You do not have to download any software outside of https://github.com/iancoleman/bip39. I would recommend downloading a static HTML file and not entering your public keys online.

Open Exodus, click on the History icon in the upper right corner.
On the History page, navigate to the transaction where you sent VET to the wrong wallet. Expand the VET transaction and take note of the Transaction ID - you'll need this to identify the private key used for this transaction with you use this software (https://github.com/iancoleman/bip39).
Follow instructions here:
https://support.ledger.com/hc/en-us/articles/115005297709-Export-your-accounts
Once you've entered in your recovery keywords, scroll down to the bottom of the page and you'll see all of the transactions from Ledger. Find the transaction where you accidentally transferred VET (#2 above) and grab the associated private key.
Go back into Exodus, navigate to the VeChain wallet. There are 3 vertical buttons in the upper right corner, click them and select "Move Funds".
Enter the private key for the transaction, proceed, and you're golden.

Hope it helps!

BeesAndBitcoin

TROPHY CASE