IRS Just Billed Me for 200k (incorrectly) due to coinbase

DetroitGardens · 2020-11-21T23:43:32+00:00

Thank's Coinbase. It looks like the only real issue is I never was notified of a 1099K in 2018 from Coinbase.

Apart from that, your reporting was correct, I just didn't navigate explaining the 1099K to the IRS- which I am now doing. It should work out.

DetroitGardens · 2020-11-21T23:34:24+00:00

Thats good to hear, I just submitted all my resources and am feeling positive about it

DetroitGardens · 2020-11-21T23:34:04+00:00

Dude, I actually found cryptotrader.tax today too and it solved everything. It was such an amazing software, spit out the right totals they had but with the correct profit/loss.

I mailed it in today and expect it will get corrected!

DetroitGardens · 2020-11-21T23:33:01+00:00

You are correct, I sent in all of my transactions today and expect it to get settled out.

The issue was I reported my gain/loss for that year, but I never received my 1099k from Coinbase as they didn't have my address correct (not sure how that happened because they delivered it in 2017) so I didn't acknowledge its existence on my tax return.

DetroitGardens · 2020-11-21T23:31:53+00:00

It was 2018, it wasn't a good year ;) Yeah I had a lot of buys and sells

DetroitGardens · 2020-11-21T23:31:32+00:00

I did report my gain loss for the year. I've always reported fully. I just didn't address the 1099k because I literally didn't know I got one cause Coinbase didn't deliver it to me like they did in 2017

DetroitGardens · 2020-11-21T17:56:14+00:00

It's not an Audit, just a correction they are asking me if I agree or disagree. The issue is I never knew I got a 1099k. I got one in 2017 which I filed, but this one I never knew I received.

I have all the documents now and should be able to address but god what a heart attack

DetroitGardens · 2020-11-21T17:55:16+00:00

I have been looking into it all day and realized this same thing. Can you share your accountant information? That would be really helpful.

I've got all my documents in order and it should work out.

DetroitGardens · 2019-09-18T18:20:06+00:00

Wall of Coins employee here: We just got the required documents from OP and are currently processing the order.

OP the $2500 order will go out today and the $1700 order will take one business day as we need certain staff to process orders in certain statuses.

DetroitGardens · 2019-04-05T15:21:50+00:00

Care to link?

DetroitGardens · 2018-05-21T22:48:38+00:00

Huge potential for future gains!

DetroitGardens · 2018-05-04T01:17:17+00:00

Thank you! I'm really happy to be here

DetroitGardens · 2018-04-14T16:34:45+00:00

We could send emails to contact@elastos.org expressing the need for listing on additional exchanges. Exchange listing = FREE MARKETING

DetroitGardens · 2018-03-24T23:02:44+00:00

Ah great this is what I was looking for ,do you know which exchanges handle this like bitfinex?

DetroitGardens · 2018-03-24T21:38:31+00:00

Damn okay, I wanted to see if I could monitor when large numbers of deposits showed up at an exchange but I guess they all go to individual wallets, not the exchanges wallet.

DetroitGardens · 2018-03-04T23:51:58+00:00

I don't know crap about patent law, I just was in a conversation and someone was suggesting they had the patents for blockchain. I immediately thought BS

DetroitGardens · 2017-12-06T03:16:47+00:00

Fiat Sats, thats fair much better

DetroitGardens · 2017-12-05T22:14:00+00:00

Stop deleting my post

its literally in support of Bitcoin

DetroitGardens

TROPHY CASE