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RE: 100 DAYS OF STEEM : Day 12 - Have You Got Ideas That Will Fly?
Steem needs a way to find all rewards received throughout the tax year for reporting taxes. Now that Steemdb is gone where does one find this information? Having a way to get this information easier than steemdb would be great. Example If I could get all my reward information from January 1,2020 to January 1,2021 . Kind of like a 1099 this kind of tool would really help people to do more on the platform because keeping track of the income would no longer be a hassle. I personally know several people who have stopped using Steem because finding the information to prepare their taxes is no easy task .
Quisling. Crypto is our money, not government's. The entire point is that it exists outside their control.
Man, I forgot the term quisling. Perfectly describes all of the greedy, cynical, hangers-on to Steem.
That's why I'm here. Expanding minds and vocabularies one post at a time.
It seems like the tool would need to scan the block database for a user's "claim rewards" transactions in a given time period, and then spit that information out in a convenient human-readable format. Would that be sufficient? I'm currently in the process of learning how to use the steem APIs by working on a project that scans the block database for certain transactions, so if I can get it working properly I might be able to adapt it to this (no promises, though, it's still a work in progress).
Hello @danmaruschak If you could make it like the steemdb was would be helpful here is a link to the Hive -db
https://hive-db.com/@danmaruschak/curation
I do not know who made these but the steemdb no longer keeps track of the steem rewards . It would be nice if the steemdb still worked
And thank you for realizing how important this information is to the growth of the steem blockchain .
Hi @razorwave8
Don't you pay taxes the moment you trade your crypto into FIAT? You mind sharing with me which country are you from? Based on my knowledge, majority countries require paying taxes the moment one is trading it to FIAT currency.
Yours, Piotr
@crypto.piotr I live in the USA and here in the USA the bloging rewards are considered income regardless of weather or not the rewards have been traded to FIAT . Here is an example if I receive 100 steem power for curating today and the steem price today is 0.15 cents then I would have to report $15.00 for today's income and I file my taxes one time a year and make quartly payments to the IRS and State . Therefor I must create a balance sheet to post my rewards and price of steem everyday in order to keep track of the rewards so I can report my earnings as income.
With steemdb I was able to collect the rewards information fairly easily and collect all my reward information one time a year .
Also If you hold on to the steem then you must show the amount and price so you can show what the steem cost you to use against the price and amount when you sell it to FIAT.
Here is an example of holding and not selling the day you receive the rewards
Thank you for this.
There are new tools coming from community developers that might be able to help with this.