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  1. I need some help with tracking my taxable events for my cryptocurrency trading and think that many others struggle with how to record taxes with the new tax laws that went into affect January 1, 2018. It is pretty straight forward if you buy a crypto with USD and then sell the same crypto for USD. Where I am having trouble is if I buy a crypto with USD then trade that crypto for another crypto. For example, if I buy ETH on GDAX with USD I record that as a line item in my excel file then calculating the cost basis is easy. Now I send that ETH to Binance and Trade it for XRP. According to the new tax laws my ETH to XRP trade is now a taxable event. In the past, people could use IRC 1031 which allowed for deferred taxes on like kind exchanges of property. Cryptocurrency has been identified by the US government as intagible property for several years now. As far as I understand it, the government has changed IRC 1031 starting in 2018 to replace the word "property" to "real property" making crypto currency no longer eligible under this rule. This means all crypto to crypto exchanges are now a taxable event. I need advice on how to calculate the USD value of a like kind exchange. I want a way to get this exact and have definitive proof that my numbers are accurate if I was to be audited. Lets keep it simple with a hypothetical: I buy 1 ETH for 10 dollars (cost basis) on January 1, 2018 at 5pm and then trade that ETH 1 week later on January 8, 2018 for 5 XRP. Now I have to find out how much my ETH was worth after holding it for 1 week when I "cashed out" for XRP which means I have to figure out how much XRP was worth in USD at the exact second of my trade. So if my XRP was worth $4 each at the time of that trade that means my ETH appreciated from my cost basis of $10 to $20 (because I traded the 1 ETH for 5 XRP which are worth $4 each). In addition, my new cost basis for the XRP would be $20, so I guess I would have 2 line items for that one trade (A sell line item for ETH and a buy line item for XRP). Basically, I would have a taxable gain of $10 for my ETH and a cost basis established for my XRP of $20. So how do I capture the Fair Market USD Value of XRP at the time of my trade of ETH to XRP???? There is almost no way to be exact with the amount of fluctuation in price per second. Advice? Any advice on tracking this is appreciated.
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