I thought we already were expected to report all crypto earned whether through work (hive posts) or from capital gains (trading). Hell I already report all of it both to the Japan gov and the US gov, so I should be covered in any event. But they sure aren't making it clear what they want.
I don't know about that. I just know it is kind of a hot mess. I only report what I convert to fiat and what Coinbase/Crypto.com tracks. Anything beyond that they will need to audit me and ask for it specfically.
I think it's the same more or less. Not sure. My accountant explained it to me but it was over my head. Something about establishing a cost basis by following the regulation and reporting my income from each Hive post, then when I do withdraw it to fiat in the future my tax obligation will be far less. Or something. I don't know... accounting is definitely one area I know absolutely nothing. I should have been an accountant.
That makes sense I guess. I just plan on paying the 30% tax or whatever it is when I move to fiat and handle it that way. If you are trying to maximize your gains versus taxes then I can see how you might do it differently.