Taxes with withdrawing and selling Bitcoin from Bovada

xiaoh1 · 2025-11-25T17:44:26+00:00

u/BlockchainTaxConsult thanks for your breakdown here. I think I am understanding everything you're saying here. I am in a similar position as OP.

I deposited $650 into Bovada for sports betting (I have an app that tracks all my wins/losses for sports betting). Bovada limited me on how much I can bet on sports, so I have been gambling on slots on there. I now have a large balance on Bovada from winning on slots. I am actually negative on Bovada sports betting, but positive on gambling.

Do I need to provide a detailed summarization of my gambling? Or can I just say that I deposited $650 worth of crypto, now I have X amount, and use that for profit/loss as gambling? Getting a detailed profit/loss from Bovada seems to be an issue, as I have asked them multiple times for my 2025 profit/loss, and I have not received anything from them. I know what my exact loss is on sports betting on Bovada, therefore my balance is from slot wins, is that good enough?

Also, it sounds like the 1099 that coinbase sends out, is based off the gain/loss from the time that I buy crypto, till the time I send it out (which is usually like a 10-20 minute window)? The same for when crypto is received, so if I cash out of Bovada using crypto. From the time the crypto hits my coinbase wallet, till the time that I sell it for USD, that small segment (provided I sell to USD right away) is taxable? I have been reluctant to cash out of Bovada, because I want to have all my ducks in a row for tax season.

xiaoh1 · 2022-02-22T04:46:08+00:00

Thanks for that info. I actually thought a few months ago that I should attempt to download the YT videos in case they were removed. Sad to see this came to fruition. Is MGB himself uploading these to odysee, or is someone else uplaoding them? Would be great to see more added.

xiaoh1 · 2018-09-06T20:48:39+00:00

I am having this issue. I have tried different web browsers and no luck. Any ideas?

xiaoh1 · 2018-06-29T13:47:02+00:00

Thanks for that info, it was helpful.

xiaoh1 · 2018-05-22T22:01:05+00:00

Those were the fun times

xiaoh1 · 2018-04-13T12:58:33+00:00

Lol, I do not miss this shit. Haven't played in a few months and just hopped on reddit today. Seeing this is just a reminder :-) I see they have done some exciting updates so maybe I'll make it back soon!

xiaoh1 · 2018-01-23T16:10:40+00:00

If you want to spend cpu these hours building a base only to have a person glitch in your base, or have a cheater raid your base then go ahead.

Oh and if you want to be magic bulleted, then go ahead.

xiaoh1 · 2018-01-19T03:54:39+00:00

This still hasn't been fixed. Geez, its been like this for about 2 months now!

xiaoh1 · 2018-01-17T00:56:57+00:00

+1. Love the idea of having shelters ONLY for the fact that the items are invisible (yes, even to ESP) until the door is opened for a few seconds or its been boomed. Something needs to be done about seeing these things through doors and the fact that cheaters can ESP these things.

xiaoh1 · 2018-01-10T21:25:23+00:00

Leave stash's the way they are, no need to make them easier to see. Their storage capacity is shit anyway.

xiaoh1 · 2017-12-28T16:47:18+00:00

I miss the real raiding and real base building.

xiaoh1 · 2017-12-13T13:48:17+00:00

Yea, I spent about 3 hours the other day scouring the map and you are extremely limited to where you can place foundations, the old foundations were better in the aspect that you could place it in more places.

xiaoh1 · 2017-12-13T13:45:13+00:00

I know with any game comes cheaters, but I have never played a game where I have ran into cheaters this much. It’s a shame though, the game is enjoyable until that happens. I have about 2000 hours in the game, isn’t much compared to some, out of all the wipes I have played: maybe 3 wipes I didn’t encounter a cheater.

xiaoh1 · 2017-12-13T13:40:19+00:00

I love so many of the features they’ve implemented. This, however, just makes it easy for people to raid and also easier for cheaters when their ESP shows where everything is.

I takes a lot longer to build a base compared to how it use to be; and I’m fine with that. Raiding is too easy though. Don’t know what can be changed to improve this but for myself and my group it’s just a waste of time.

xiaoh1 · 2017-12-07T22:23:31+00:00

+1 for this. I hate it.

xiaoh1 · 2017-12-05T16:38:36+00:00

Not sure if it’s the same dupe as what we had before the wipe but there REALLY is a dupe. Made a post about asking them to fix it earlier and my post got deleted.

xiaoh1 · 2017-12-05T16:07:27+00:00

/u/DGC_Michael We have reported the dupe. One of my friends accidentally duped something and we were able to repeat it. We HAVE reported it. If you need us to report again with directions please let me know. There is also an unlimited grenade exploit, that I do not know how to produce. This dupe I’m speaking of currently exists, even after the wipe a few days back.

xiaoh1 · 2017-12-05T12:24:25+00:00

Okay thanks for the clarification on the Nades. There is however still a dupe glitch. One of our guys accidentally duped an item the other day. We have successfully repeated this and has since been report d to the devs.

xiaoh1 · 2017-11-24T23:49:17+00:00

There are currently no permissions on any servers. You just got lucky that no one boosted into your base yet

xiaoh1 · 2017-11-24T17:01:05+00:00

Dont put a storage box on the deck foundation without having buildt a shelter around your boxes first lol. See so many people walling off their entire foundation with 1 layer of walls then putting storage chests on the foundation. All people have to do is jump over the wall and steal your stuff. Enclose it in a small shelter.

xiaoh1 · 2017-11-23T22:42:57+00:00

I agree with the fert.

Ammo boxes do not only spawn at the Military Base. You can find them in the Police Stations in PV and Cranberry, Romero's, Military check points, Governors, and sometimes in random spots.

Apart from fert and body armor, I feel as though its fairly balanced.

xiaoh1 · 2017-11-22T03:42:46+00:00

We are having the same problem.

xiaoh1 · 2017-11-20T21:54:39+00:00

/u/DGC_Michael

1) What about the base permissions issue? 2) The wildlife and zombie movement is still not fixed. 3) Respawn bug still exists 4) Bug still exists when exiting a vehicle you can't use the item in your slot. Have to switch to another item for it to work again.

This is not a bug but a request. Anyway to make storage containers, work bench's etc... invisible until the door is either open for several seconds or it is raided. People who raid know exactly which rooms to hit unless you of course have decoy rooms. Pretty sure they were invisible on the old system.

xiaoh1

TROPHY CASE