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I’m a dumbass

I’m a dumbass

All Cryptocurrencies

by COINS NEWS 12 Views

Out of a great combination of ignorance and laziness, I didn’t report any crypto trades for December 2017–when I started buying/trading—or 2018. I knew that if I ever sold, I would pay taxes on that, but it was only in 2019 that I learned that trades are taxable events.

I’ve lost money trading every year. Not a lot. I experimented with trading a little bit, but I mostly just buy and hold. I want to report my trades for my 2019 filing, and subsequently all my previous trades from 2017 and 2018.

Basically, my question is: Is the IRS gonna fuck my shit up? And what can I do come clean with this?

And like I said, I know I’m an dumb ass. Please be gentle with my moon boi soul.

Edit: Thank you to everyone for your advice and solidarity! I will file a 1040x for 2018, and one 2017 just in case. Hopefully one day we can get a reasonable tax policy on this.

submitted by /u/The_Ex_Pope
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