I was wondering… I keep purchasing bits of bitcoin here and there ($20-$100 chunks) during the dips and I have it invested in my Celsius Network account. If I hypothetically pulled everything out with profit at the end of the year (Which I won’t, just curious for the question at hand), How does the IRS know how much to tax? Do I need to keep receipts of every deposit/purchase of bitcoin so that the IRS can tally the difference between my investment and my net profit? Will Celsius provide a form for me with all of that information? Any help would be greatly appreciated. I just don’t want the IRS to think that every thing I pull out is profit when a majority of it is investment money I put into it. Also I don’t plan on pulling ANY out any time soon, this is just a hypothetical question. Thank you.
submitted by /u/RaKemyst
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