We need a new tagline for the blog (and someone to write more timely posts). When the price of Bitcoin crossed $100k in early December, I sold my 3.445 ten thousands of a bitcoin. This 0.0003445 BTC came from a Coinbase Super Bowl advertisement of a bouncing QR code in February 2022.
Gross proceeds from the sale was $33.09 after fees and spread. My cost basis was the $15 in miscellaneous income paid on our 2022 tax return. This leaves a long term capital gain of $18 on our 2024 tax return. The sale wasn’t big enough to trigger an IRS Form 1099-B. I saved a few digital breadcrumbs of the transaction and deleted my Coinbase account.
I doubled my free money in just under 3 years. I followed the price of BTC in the iOS Stocks.app but never gave serious thought to buying more. Mrs. Dress Pockets once said buying more crypto was grounds for divorce 😉
