Replies to post #29882 on Ripple (XRPUSD)

[WiseYoda]

Thank you for link, I will check this out! I told my CPA why should I report anything if they can’t regulate accordingly. He said I understand your point but on your tax form it will ask if you’ve bought, sold or own crypto. If you want to say no because they haven’t got all their ducks in a row yet then thats on you. I of course will answer yes, but with that in mind it would just be a matter of time before Uncle Sam inquires of me and then what does one do? Avoiding the inevitable could end up costing more but regardless I need to know what kind of tax implications Im looking at. I need to gather together detailed information about Songbird, Vagabond and Sologenic drops so my CPA can give me an answer of what Im looking at.

[ap17]

One of the funnest parts working at IRS and passport, was seeing the lawyers come in with applicants or taxpayers and (me) telling them where their wrong and watch them scramble for the REG. to make their case, of course they never find it.