RE: How I deal with Hive earnings, crytocurrencies and taxes
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I use Koinly to keep records of my crypto that is bought via various exchanges. I even added my Steem stuff there.
I need to do that with Hive too but that's pretty complicated with all the different token amounts.
I'm keeping spreadsheets to keep track of various things but I'm still working out the best way to tackle this as it takes way too long at the moment.
It would be much easier if you only had to record buys and sells but, since every exchange from one currency to another is a taxable event and all buys are pooled it gets super complicated. Hence my use of Koinly.
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Hmm, I am favoriting that one, thank you!
Hive's different tokens are very complicated to keep track of. I haven't decided how to deal with those yet. For now, I just earn scraps with them, so I'll stick to the screenshots until that changes.
Unless something changes dramatically I'm not sure HMRC (UK tax authority) will be that interested in the tokens although, having said that, my proofofbrain tokens are worth close to $2K right now. 😱
I need to get more organised I forgot to take screen shots of my wallet on June 1st.
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Wow, you've shown a lot of proof of your brains huh! Well done :D