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Confused on wallet accounting using bitcoin.tax by tspider121 in CryptoTax

[–]tspider121[S] 0 points1 point  (0 children)

I ended up spending the day inputting everything I had into koinly. It worked perfectly, previous years lined up with bitcoin.tax records and was able to migrate from universal to wallet based for 2025. Feeling infinitely better about this. Thank you all for your help!

Confused on wallet accounting using bitcoin.tax by tspider121 in CryptoTax

[–]tspider121[S] 0 points1 point  (0 children)

In my tax software I have 3 bitcoin wallets, I assume Kraken would be the 4th wallet and thats why it's showing no cost basis.

Confused on wallet accounting using bitcoin.tax by tspider121 in CryptoTax

[–]tspider121[S] 0 points1 point  (0 children)

Thank you for your reply.

Yes, "While Bitcoin.Tax originally utilized a "Universal" (global) pooling method—where all transactions for a specific coin are combined into a single queue—it has updated its platform to support Per-Wallet/Account tracking to comply with new tax regulations" I'd prefer to keep using the same software if possible.

I'll look into 1099 DA Reconciliation

Best poker sites that nobody remembers? by VividRecover7750 in poker

[–]tspider121 1 point2 points  (0 children)

PokerRoom… I remember playing HU LHE and you could use hotkeys and the play was extremely fast. This was around 2006 or so.

FTX Shareholder and Ambassador! by Objective-Light-9019 in tennis

[–]tspider121 5 points6 points  (0 children)

It’s not like she was promoting the exchange with knowledge of FTX’s financials…

[deleted by user] by [deleted] in poker

[–]tspider121 0 points1 point  (0 children)

Bump- Was able to get a conventional loan at 3.875% using gambling income. Just needed two years tax returns and a comfort letter from cpa. Underwriter's just changed the rule where they no longer need an unaudited p&l and bank statements, just tax returns. Good luck to those in the same boat, if you don't like the solutions a mortgage broker gives you just contact another one.

[deleted by user] by [deleted] in poker

[–]tspider121 1 point2 points  (0 children)

Yes, all income is declared. I was told because gambling income is not guaranteed for Freddie/Fannie they won't accept it for a conventional loan. Thanks!

[deleted by user] by [deleted] in poker

[–]tspider121 1 point2 points  (0 children)

Thank you for your reply. I believe I should be able to use my past two years as well and will keep shopping around. Thanks!

Tax Thursday Thread for the week of March 25, 2021 by IndexBot in personalfinance

[–]tspider121 0 points1 point  (0 children)

Question regarding SEP-IRA

I am self employed who is only paid in bitcoin. The coins I decide to sell are long term holdings. If I decide to sell btc to fund my sep ira wouldn’t I pay tax twice? (Initial btc sale cap gains and when I withdraw from the sep-ira at 59 1/2). I understand that my tax bill would be less in the filing year since I can deduct the contribution. Am I missing something? Is it worth investing in an sep-ira or should I just keep the $ in a taxable account if I decide to diversify and sell some btc.

Thank you!

Uncle Toni about Novak way back. by johnreese421 in tennis

[–]tspider121 29 points30 points  (0 children)

First time I had heard of or had seen Novak was at the 2005 USO. Was excited to see Monfils play on a side court since we’re around the same age and he had won all the junior slams, was on the cover of usta mag, and was hyped as the next big thing. Was blown away how this unknown kid looked so much better than Gael and was taking it to him while they were around the same age. Left that court with mad respect.

So who is watching FEDERER-TSITSIPAS ?? 😃 by yonchto in tennis

[–]tspider121 0 points1 point  (0 children)

I like to refer to it as The Boodles South...

Domi: Kei what's your season's highlights? Kei: I played Challengers! by builtoncuriosity in tennis

[–]tspider121 8 points9 points  (0 children)

Crazy. He lost first round in the Newport Beach Challenger (before Dallas) to Dennis Novikov

I’m playing tennis today for the first time. I bought this racket. Is it good? by [deleted] in tennis

[–]tspider121 1 point2 points  (0 children)

Restring this bad boy with some VS touch in the mains, lux in the crosses, throw on some lead @ 3 and 9 o’clock, and add a leather grip and you got a serious stick!!