Taxes

Hey guys is there any downside to buying and selling alot on gdax going from btc <-> usd or eth <-> usd?

Taxes are only on total profit over the year right? So doesnt matter how many small trades ive made... Ex: deposit 4k -> end up with 6k i get taxed on 2k profit (Short term capital gains) or end up with 2k and get a 2k deduction

but other than that the small trades back n fourth wont matter right? just depends on money in vs money out come tax time?

submitted by /u/randomacc2032
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