I purchased a bunch of BTC in early 2013. Since then, I’ve purchased very small elements of Bitcoin once in a while up till now, for a lot bigger (and growing) worth.
A lot of these “authentic” cash have been misplaced. Whereas there was a “arduous fork gold rush”, I gained some extra from those I already had by claiming “Bitcoin Gold” and “Bitcoin Diamond” and all types of such issues after which buying and selling them again to actual Bitcoin utilizing varied non-KYC/AML webpages which allowed me to do that with out registering any account. I can not even keep in mind the title of these companies, not to mention the precise particulars of after I did it or how a lot I received.
I don’t know whether or not the cash I’ve left right this moment are all from these authentic cash, which I purchased for subsequent to nothing, or if a few of them are a part of those I purchased in later years, at a a lot steeper worth. I don’t know how I would even determine that out.
With such a messy scenario, how can I presumably calculate how a lot taxes I owe to the federal government if I had been to promote/spend my cash? I severely do not perceive how I can presumably decide how a lot “features” I’ve had contemplating the messiness of all of it.
With this in thoughts, what am I imagined to do? Assume that each one the cash I’ve left are a part of my first batch of cash, despite the fact that it will imply that I’ve to pay taxes on mainly the complete steadiness? And even when I’m going that route, I can not show how a lot I paid or when. (It was Localbitcoins pre-KYC/AML.)
I do not perceive how I am imagined to determine this out, and the federal government’s web site is (in fact) to no assist. What can be essentially the most cheap factor to do? Simply “chew the bullet” and faux that I received all of the cash I at present have totally free, and thus should pay taxes on your entire steadiness?