I've got a question about bitcoin and taxes. as i'm aware in ny there is no sales tax on bitcoin but if you exchange goods or services you must pay a tax for each transaction. but possibly not if you exchange bitcoins for us currency. also theres a capital gains tax if you make a profit off the fluctuation in price. but usually bitcoins are exchanged immediately after buying them from an exchange so there is nearly zero price fluctuation. so if a person who has spent about 5k on bitcoin in a year, while only making around 15k on paper, should they attempt to pay taxes they bought throughout the year? can you potentially avoid paying taxes on the 5k in bitcoin, or how likely is it to come up again? I'm not sure what I should do about it since I haven't kept good records of those btc transactions...
Fuck tax bro