Bitcoin taxes on Gemini

I think I made around 4k from crypto gains this year by selling on Gemini. It’s possible there could be some gains. The issue is that it’s just me dealing with a ton of small transactions. Should I be ready to report this? How many of you are reporting gains like mine?

You can download your trading history for your account on Gemini as follows in the guide: How can I view my trading history?If the default 50 past completed trading orders are not enough for you, follows this page to get full trading history. https://exchange.gemini.com/history[Tutorial] Crypto taxes for beginners (take a look at it, maybe it contains something you can use)

Rather, it all depends on whether you pay taxes and whether someone requires this reporting from you.

That all depends on your country. In the UK you have a 12k capital gains allowance that is tax free so you wouldn't pay anything on 4k alone. Every country is different though.

Whether the law requires it or not, as a result of not paying what you should, you will receive both the bill and the fine. After all, ignorance of the law will not relieve you of responsibility for non-compliance. I think if you have an already generated electronic report in your gemini account, you should just copy it and just go to a tax lawyer or consultant. He will tell you exactly whether you have to pay or not, will tell you how to do it the easiest way.

May I say something, "to TAX something " you need to show that in the place of taxation the item as a given value to buy goods in that kingdom. Tell me sir will you, what shops banks i could spend bitcoin of any other crypto type coin within the Uk , "smiles" , that's why Bitcoin Satoshi was NOT made to be indented into Banking, trust me I know. See what is happening is bankers have seen a commodity better than there's and buy heavy to try bring Bitcoin price down governments do it because they see this thing they cannot control crypto is for the people not the tax man or bankers Craig as  well screwed up my work selling is soul for  his clone of my work annoying all of this is! I say you want tax you must give it value in the uk in every shop and bank today taxing it as it is is not right your taxing the arse off people without reason they have spent sod all yet as legal tender in your land think on how legal is your tax, think long and hard about that this is why i said to hal lets build it into a land within the pc no one owes the internet and if something was sold in that world no one earthly place as the right to tax as they did not use legal uk or us tender vr worlds its where its at my seeders lol lol imagine jumping into your glasses driving around looking at all them nice shops that move into our would that are failing in the real world going in a shop for cakes and they come to your real door get jiggy peeps make it happen i wish i had the money for such a world lol take care bitcoins fun make more of it of all you have trust me when i say enjoy it because you can get forgetful with old age lol oh well lifes a bugger lol oh its no good i want to try make one know pmsl thats sleep out the window for months lol

In my opinion, the state should follow the example of the blockchain system itself. I mean, transparently and openly telling all players: "now we pay $ 100 for every bitcoin transaction" - for example. What will this give the reformers? I think that there will be a whole wave of people who will legalize and declare their income and assets, provided there is a clear and transparent system of their taxation. Then it will become clear in which country the government is ready for reforms and will take a step towards the community - and in which country it will lose investments and strategic initiative in the future.