CRYPTO TAXES MASTERCLASS 2023 &2024. CELSIUS, VOYAGER, FTX MUST WATCH!

TAXES scare me. That's why I work with some of the best people to make things simple and easy in relation to crypto taxes. Today we talk to Davie Kemmerrer from CoinLedger on how to SIMPLIFY your bitcoin and crypto taxes.
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0:00 Introduction and welcoming David Kemmer, CEO of CoinLedger
2:15 What is CoinLedger and what does it do?
3:30 What are the different taxable events in crypto?
4:30 How does Voyager and Celsius bankruptcy affect taxes?
7:15 How to claim losses from hacked wallets
9:30 Why it is important to pay taxes on crypto
11:00 How to handle pre-sale staking rewards for tax purposes
12:30 Does the IRS require every transaction to be reported?
13:30 How to handle exchanges that don't provide full transaction history
14:30 Do you need to report S coin trades on a DEX?
15:00 Conclusion and links to resources
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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! This channel is for entertainment purposes only and is just my opinion as I am not an expert or a financial planner. Please perform your own research.
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[@DigitalAssetNews]

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[@TheShaolin015]

Taxes scare us all because “freedom isn’t free”…that’s right we all misread that saying. We thought it meant defending the country from tyrants. It actually means we must pay the tyrant to leave us alone.

[@croketback715]

I’m sending this video to my CPA.

[@upbiggerbetteralways3297]

Great info! Thank you both

[@PeeP_Gainz]

Wait a minute: US law on property: grant fair market value to lost or damaged property, this is not the case, this property not damaged or lost. It’s theft and that criminal activity or am I wrong here?

[@Deron-Wilkes]

More great content! Thanks Rob!

[@FunMarty]

Thank you! I'm in the Celsius mess and this actually made sense.

[@_lifewithlexi_]

Helpful video thank you

[@ralan8636]

Awesome! Another Taxbit user comin onboard.

[@lexilin3574]

Thank you !!!

[@IOUZip0Nada]

Still getting screwed by Voyager

[@AthenaTheWolf]

same I made a large transfer late 2022 and for some reason despite voyager putting a hold to the accounts, they took the money instead of preventing it. Not sure what legal action I can take, they should not have been able to take money.

[@garcon8552]

solid tool , my 3rd year using as well..

[@F5alconsHouse]

was waiting on this content

[@LiveStravaKOMs]

Thx

[@bitcointracker7314]

One area that wasn't discussed are coins that can be reported as business income. Any coin earned from providing a service can fall under a business. Good tax information.

[@baitcaster7260]

Do input your voyager log in info to connect with coinleger to get your tax info?

[@J5init]

I need that portfolio tracker for me to use it, how do you ping him Rob? So i can get it thank you sir.

[@notmeme549]

Now!

[@randomguy-te1il]

How about transaction & gas fees? Do we deduct them from the capital gains?

[@blueflowfish2115]

So if we sell our BTC we got back from Voyager at the top....does that mean we get a bigger capital gains loss?

[@ScottWatsonKorgano]

When will CoinLedger allow tracking of loan type transactions on Aave or Compound?

[@ice_kube96]

if im doing my taxes with a CPA, do I still need to use coin ledger to consolidate it all into a form or can I just send my CPA a list of my transactions?

[@thunderfulstorm5794]

If i bought a Software Node that earns token rewards for supporting a blockchain is the price of that node my cost basis if i sell the tokens in the future?

[@garcon8552]

Does this mean the tool can tell the value of our Coins which were taken by the likes of Celsius and BlockFi to allow us to see a loss/gain calculation?

[@DigitalAssetNews]

Yes

[@noelg9795]

Staking and mining is new creation. Newly created property not have value so taxation on newly created asset or money is against normal logic.

[@gandolfgrey5385]

How do you find your celcius cost basis now that the app is closed. Guess I should have paid more attention earlier than now

[@BeardyDay]

Wen?

[@LucyWattson]

"in this world nothing can be said to be certain, except death and taxes."

[@pennybeard4452]

Don't forget you owe taxes on any staking rewards :( Looks like Coinbase and other companies will have related tax forms ready around mid February.

[@GarysGuzzler]

Yes it counts as realized income but also it's not a capital gain or Capital loss as a taxable event until you sell or swap. 18:16

[@carlosespinosa6446]

what if I do daily purchases using my coinbase visa card using bitcoin to pay my bills? ALl these transactions would be taxable as well? Tax file will be huge file.... lol

[@bbs7848]

Voyager shut down there site. Does anyone know what we will get from voyager?

[@jackiechan3599]

Are trading bots taxable? Degen here

[@DJ-rq9qg]

I don’t want to pay taxes😂 Lucky me I earned nothing, sold nothing

[@notmeme549]

Changing my name to “Dee Jenny”

[@jdwill8649]

If I sold 2 ETH but didn’t pull it out from my Fiat wallet Do I have to pay taxes?

[@Chris-ty7fw]

yes selling is normally the taxable event

[@williamoleary1410]

90% of the people who will be in crypto this cycle have already bought and have their bags packed. They are sitting around thinking they will become millionaires. Anytime a person or organisation sells they panic. There are going to be a lot of disappointed people when they find out only a small percent of people make a lot of money in this space

[@bytme40]

For Voyager: Is there still a 3k max per year of losses you can report or was that misinformation

[@stevied1266]

I was told by a cpa last year that 3k was indeed the max.

[@pilgrimbob5519]

@@stevied1266 My TurboTax software states that a loss over $3,000 is what may be deducted as a loss. Not the first $3,000.

[@cryptoesquire3168]

Rob, another rule: Comment with the most replies is the scam one.

[@theRevPauLthatsAll]

So if I converted my .50 Eth that was 2 Eth to Qnt then that's a taxable event and loss? Oh looks like I sold it on coinbase then bought QNTso I can clam thst 1.55 Eth as a loss?

[@jackiechan3599]

Koinly is more versatile

[@DigitalAssetNews]

So you’ve used both?

[@rlg222]

This is all BS…

[@ziggystardust58]

Timestamps would have been helpful to get through the slow, useless explanations.

[@DemonEmbarasser]

I'm just not gonna do them. Good luck tracking all my crypto transactions.