this link was fantastic insight. For others who may read this thread - it is on laws that make it difficult to comply with. A person can not comply with a law and challenge any penalty (if enforcedZ) through a jury trial. This article discussed a lot of weird laws that make it almost impossible to comply with.

My initial thoughts would be to track balances of lightning wallets at the start and end of year, documenting where large, easy to track deposits come from or large withdrawals went to. Screen capture wallet history (like here) when available.

Since I tutor others on how to use bitcoin and now getting into Lightning, it feels like I should have some logical system to address the IRS.

appreciate the link mucho!

Thank you! and congrats on being an attorney who is 60+ running you own node :)

Learning how to run my own node is on my list of things to learn and implement. I have an IT background and I'm still intimidated - you've added some extra inspiration!

many blessings for a fulfilling bitcoin life journey

Hi Ivar - exciting to read you are adding the ability to accept bitcoin in both your businesses! I want to help USA solopreneurs understand the benefits of transacting in bitcoin and would love to interview you for the new podcast I am working on. Let me know what you think! Looking forward to hearing from you! Jessi - aka @SatoshiTutor

super curious if you are in the USA (or tax jurisdiction) that requires you to record all of these satoshi transactions, their cost basis and then later if used to buy things in a game. I want to be more active in tutoring others to transact with satoshis and strengthen the bitcoin circular economy here in the USA but don't want to lead people into accounting hell. Thanks for any insights you might have

thank you for this reply that clarifies

I feel like my next step is to figure out how to track the satoshi entries, their value at the moment of receipt, then the value of the moment I spend them

if on lightning and transactions are private, then I'm wondering how I will do this? any clues or insights?

I want to help more USA solopreneurs and freelancers get involved in the bitcoin circular economy and want to make sure I'm not sending them into accounting hell

thanks so much for your time and help

that's a great point - bitcoin is really the only "blockchain" that offers immutability that's real. grateful for the insights

When we self custody - exchanges have less chance to sell fake / paper Bitcoin. I reas somewhere FTX fake Bitcoin accounted for 25% of available supply - imagine if the last bull run was actual Bitcoin only. Security and price stability (and growth)

Help people learn how to self custody. I remember how scared I was. So glad I did it.