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RE: For U.S. Steemit Authors - The new Steem Dollar (SBD) Tax Dilemna (Because it couldn't get any more complicated)
Agreed it will be a challenge, although I have a few ideas for simple wallet GUI improvements that could help simplify the data aggregation. For example, it would be great to have the USD value of each transaction as a separate column in our wallet based on the largest volume exchange (i.e. Bittrex). And have the state displayed instead of being a "mouse-over" (for example over the mouse over 3 days ago, 4 days ago, etc.)
Steemit Inc. will not be issuing 1099's based on the last time I checked the FAQ section, so it is on each individual person in the U.S. to figure this all out or bring the information forward to a tax advisor.
Thanks, I appreciate the fact you're taking some proactive steps -- at least in bringing the matter to our attention. I wonder if taxes would be due for Steem left in wallets, or would it only matter if it was converted to USD. I suspect the former, but maybe the SP that we have to leave in the system for years wouldn't be taxable until it could be withdrawn. Oh, I have a headache. :)