Taxes for United States citizens

Hello all,

As a US citizen, I’m somewhat concerned about paying the right amount of taxes for my crypto investments in 2017. I’ve read on the US IRS website that cryptocurrency would be treated as a capital asset with capital gain tax. Either short or long term capital gains tax like a stock in the stock market. And although I’ve locked away 90% of my MAID in cold storage, awaiting the SAFE network release down the road, I’ve done a little day trading with the other 10% in an effort to obtain more MAID. I’ve purchased MAID on both Poloniex and Bittrex this year. However, I didn’t document the USD prices of when I purchased/sold MAID. I assumed that Poloniex and Bittrex would give me a report of all my trading history throughout the year just like an Etrade, Ameritrade, etc would. And although both Poloniex and Bittrex give trading history reports with purchase/sell times, it shows my MAID purchases/sells in BTC, not in USD. Which obviously creates somewhat of a grey area because I can’t prove the exact purchase/sell prices. I’ve looked on both sites but I can’t find anything so I’m reaching out to this forum. Does anyone know a site I can check that documents every past BTC and MAID price at every point within the last year? Any tax advice anyone can give me?

Air Smoothness

To have a (rough) idea what the price in USD was, matching the exports of Poloniex and Bittrex, you could you use the Historical Snapshots here

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Yea I think you’re right. This will probably be the best I can do to at least receive a rough price range. Thank you.

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Of course you only need the buy amount to reduce the gains figure. If you ever cannot find or work out what the buy amount is then you can either approximate it with a note to tax man that it is an approximation based on xyz, or zero rate the buy amount (buy = $0.00) and wear the extra tax.

For many who have held for years the increase is such that zero rating the buy price isn’t toooo bad

Oh that’s a really good point! Thanks Neo I’ll keep that in mind when I eventually work on these taxes!