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RE: US Tax Considerations – Cryptocurrency Tax Workshop for Novices (Courtesy of the Rocky Mountain Steemit Accelerator)
@cryptotax we are both on the same page as it relates to the 1031 rules. I have never felt comfortable taking a 1031 exchange on crypto-to-crypto trades for my own income tax, much less recommended it to others. The SEC ruling on the DAO only made me more entrenched in that position.
With this workshop, I don't have plans to dive too deeply, because by and large those involved with crypto through Steemit are not looking for exotic cases, or a deep dive into the tax law. They are looking for key points and basic understanding so they can understand and have some idea of the liability they could possibly have accrued.
It's not sexy, but I think it's necessary for the community as a whole.