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Crypto Tax Tips

06/12/2018 12:07


This video is courtesy of Mark as a sample of what you can expect from him going forward.

Originally posted on February 6th, 2018

 

 


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Mark Dukas Tax Tips Crypto
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  • 1

    Thanks very much!

    Submitted 1 year ago by CryptoSuf
  • 1

    Hi Mark, thanks for the video, this was very imformative.  Can you comment on using self directed Roth IRA's as a tax shield for crypto investments?

    S
    Submitted 1 year ago by Tony
    1

    Hi Tony
    As of right now you can't buy sell crypto in an Roth IRA.  The best way to gain exposure with a Roth would either be buying GBTC (Bitcoin Investment Trust) or ETCG (Ethereum Classic Investment Trust).

    However beware you are paying an extreme premium for GBTC and ETCG as the trusts charge a premium for that right. The premium is because they are giving you easy access to the cryptos and also you don't have to manage the private keys etc.  There are definitely some pros and cons to each.

    I'd recommend if you can learn how to manage keys, setup wallets etc then you'll gain more access to different coins, pay less, and be in control of your $ and Crypto.

     

    Submitted 1 year ago by Mark Dukas
  • 0

    Thank you

    G
    Submitted 1 year ago by Gabs
  • 0

    thanks!!

    S
    Submitted 1 year ago by Sebastianr72
  • 0

    Would you recommend using CryptoTaxPrep.com (Happy Tax Service) for Tax preparation?  

    C
    Submitted 1 year ago by Cathy Catri
    0

    CryptoTaxPrep looks like a fine service.  I do not have any expereience with it so I cannot vouche for the quality of the work. 

    If you're looking for a reputable service Laura Shin put out a podcast with a few Tax Accountants and the two people interviewed seemed very knowledgable.

    Here is the pod
    http://unchainedpodcast.co/the-tax-rules-that-have-crypto-users-aghast

     

    Submitted 1 year ago by Mark Dukas
    0

    CoinTracking.info is the only service I have experience using and its for users who want full control

     

    Submitted 1 year ago by Mark Dukas
    0

    Thank You!

     

    C
    Submitted 1 year ago by Cathy Catri
  • 1

    Thanks Mark!  You did a good job summarizing.  And btw, I am a tax attorney.

    R
    Submitted 1 year ago by Robin Fadal
    0

    Hey Robin thanks a lot I wanted to address the most pressing issues crypto people will face.

    Appreciate the kind reply!

     

    Submitted 1 year ago by Mark Dukas
  • 0

    Thanks Mark, Watched it again today. appreciate these posts are saved for us BittcoinLive subscribers to reference. Golden info! :)

    Submitted 1 year ago by Jennifer Kristi
  • 0

    Thanks for the info.

     

    Submitted 1 year ago by Zenji

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