X @Mayne
Mayne·2026-02-13 20:18
Seeing a ton of posts about taxes on the feed lately, specifically the 1099-DA.So here is a fun experiment, can you solve this Crypto tax problem?Steve bought 1 BTC on Kraken in February 2024 for $43,000.A few months later, he moved it to his Ledger for safekeeping.In December 2025, he sent it back to Kraken and exchanged the BTC for ETH valued at $97,000 at the time of the exchange.Kraken sends out a 1099-DA showing $97,000 in proceeds and $0 cost basis.What should Steve's report as capital gains on his 20 ...