you are a gift to this community. I actually made a simple Google Sheet template for tracking this if anyone wants it. Columns are: | Date | Coin | Amount | Cost Basis | Value at Spend | Gain/Loss | Purpose | I just fill it in after each purchase. Takes literally 30 seconds and my accountant loves me for it at tax time. Also worth noting: if you're buying crypto specifically to spend (not holding long term), the gains are usually tiny because there's minimal time for the price to change. The people who get in trouble are the ones who bought BTC in 2020 at $10k and are spending it now at $95k. THOSE are significant gains 💰

Not a CPA but I've been researching this a lot. A few more things to consider: 1. Medical expense deduction — if your peptides/GLP-1s are prescribed by a doctor, those costs may be deductible as medical expenses (if you itemize and they exceed 7.5% of AGI). This PARTIALLY offsets the crypto gains tax. Talk to your accountant about this. 2. Specific identification method — if you have multiple crypto lots (bought at different times/prices), you can choose WHICH lot you're spending. Pick the one with the highest cost basis = lowest gain = lowest tax. This is called "specific identification" and it's perfectly legal. 3. Stablecoin strategy — buy USDC or USDT, then spend that. Since stablecoins are pegged to $1, there's minimal gain/loss between purchase and spending. Technically still a taxable event but the gain is usually $0 or close to it.

all three points are correct and well-explained! The stablecoin strategy is actually what I recommend to clients who want to use crypto for purchases but don't want the tax headache. Buy USDC → spend USDC → gain is essentially zero → still technically reportable but nothing to worry about. The medical expense deduction point is great too. If you have a valid prescription and you're buying from a legit pharmacy, those are medical expenses. Keep ALL receipts. And specific identification is 🤌 for anyone with multiple lots. Great tips.

OK I feel way better now. Small amounts = small gains = small tax. I'm going to start using lucas_SP_BR's spreadsheet and actually track things going forward. Also the stablecoin idea is genius. I just want privacy, not to make money on crypto. USDC → spend is perfect for that. Thanks, you should do a Q&A thread quarterly or something. We need a community CPA 😂🙏

happy to help! And yeah I might do a quarterly tax Q&A if there's interest. Last reminder for everyone: 2025 tax returns are due April 15, 2026. If you did ANY crypto transactions in 2025, you need to answer "yes" to the digital asset question on your 1040. The IRS checks this. It's not optional. Stay healthy, stay compliant, and keep those gains (financial and physical) 💪📊