Cointracking.info does not follow coins across exchanges for other coins, does it? I’m not sure you’re seeing to mind-boggling complexity here.
Take all the Steem Power payments/rewards I received on a given week in 2016. I have to know the value of Steem at the exact time of each payment across the week (this means potentially 20 separate payments if I posted a lot the week before) and follow each of those separate micro-amounts across exchanges.
“Oh, alright. This 2 SP was from my payout on Monday at 9 AM, now I convert it to Bitcoin and have to track this separate decimal amount of Bitcoin separately from all my other tiny decimal amounts of Bitcoin received at myriad times and myriad market values, AND continue to track each single, solitary Steem payout AND any and all various other coins I may exchange along the way.”
It’s just not possible unless one stays inside all day, stops eating and working.
It’s not a complaint so much as pointing out a mass scale attempt to steal from and financially bind non-violent individuals/producers.
I though in the article it said it isn't taxed until it's withdraw to fiat. If you withdraw daily then it would be complex.
I think the premium version handles crypto transfer and tax tracking, but not 100% sure.
I hate taxation as well, but from what I'm reading is if you keep your earnings in crypto it doesn't get taxed.
All profits are taxed, even those made from crypto to crypto exchanges. At the time of a purchase or conversion to fiat, you are expected to know exactly how much profit has been garnered from each separate, individual coin or decimal portion of coin.
Yeah that's just insane. That kind of detail is almost just saying if you use crypto we will throw you in jail. How will the government be able to prove your information is or isn't correct. Sounds just like a loophole to throw the "unfavorables" into jail.
It does to me too.