Crypto Taxes EXPLAINED! Bitcoin/Altcoins, Like-Kind Exchanges, Examples! (U.S. Specific Dec. 2017)

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Added by Phil.Springer
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DISCLAIMER: I AM NOT A TAX PROFESSIONAL, PLEASE DO YOUR OWN RESEARCH ON THIS IMPORTANT TOPIC!

Many people have been wondering how their crypto transactions/dealings are going to fit into their taxes this upcoming tax season in the U.S. This is admittedly a very confusing topic that is likely going to be a huge hassle. I dove in and did some research on how our crypto/Bitcoin dealings are going to be taxed so I made this video to share my findings with you! Topics include: Like-kind exchanges, Capital gains, FIFO, LIFO, determining USD value, spreadsheet example of trading altcoins, and much more! If you find this helpful, I'd love to hear from you in the comments below and also get a LIKE/SUBSCRIBE!

Previous Bitcoin taxes explainer video: https://youtu.be/-SvZWDl3wJ4

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Hey everyone, thanks for watching. If you enjoyed this video please give me a LIKE and SUBSCRIBE to catch all my future content. If you have any questions definitely leave me a comment below and I’ll try my best to get back to you!

Disclaimer: I am not an official investment advisor - everything I say is purely my opinion. Some of my videos are sponsored, those will be clearly marked by YouTube. If you’re dealing with a new process it’s always RECOMMENDED to try out the whole process end-to-end with a smaller amount before you move the bulk of it.

If you want to sign up for various exchanges, you can use my referral code for bonuses. I use all of these exchanges and recommend them:
Coinbase/GDAX: https://www.coinbase.com/join/5925a6f5f35ce600bcd082d2
Binance: https://www.binance.com/?ref=11165323
Kucoin: https://www.kucoin.com/#/?r=1KRQ5QR
Changelly: https://changelly.com/?ref_id=38a4c94cf5c4

Also be sure to check out our communities:
Facebook (Main Group): https://www.facebook.com/groups/cryptoforbeginners/
Facebook (Mining): https://www.facebook.com/groups/miningforbeginners/
Facebook (ICOs): https://www.facebook.com/groups/icoforbeginners/
Steemit: https://steemit.com/@btcforbeginners
Instagram: https://www.instagram.com/btcforbeginners/
Twitter: https://twitter.com/btcforbeginners/

Intro Music Credits:
‘Soaring Intro A”
Jay Man – OurMusicBox
http://www.youtube.com/c/ourmusicbox

Category
Cryptocurrency

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