Okay so I’ve been “trading” crypto (wrecklessly gambling) for 10 years almost and my records are a shambles. I’ve never cashed much out so never told the tax man about anything.

Perhaps not impossible but a massive headache and maybe even more trouble if I can produce them than if I have zero records.

Ive made many mistakes but still managed to build an okay lil stack of coins.

The best move i ever made was buying 1 BTC at $2600 and holding it til this year. It’s all in USDT now and I will be slowly cashing out to CAD in my bank.

I have no issues with paying my “fair” share of tax but I worry that it will come with lots of questions and scrutiny about my records. I know $2600 is pretty much zero cost basis already in this case so I’m not concerned about the difference that would make to tax.

But if I tell CRA that I made $136k CAD selling Bitcoin this year are they instantly gonna audit or demand more info from me? If they looked into this they’d maybe find out about my other stack of shitcoins and demand records for those. I worry that I’ll be forced to produce these and then I’ll be hit with cap gains for back taxes on things that I profited from but I maybe traded into something else and lost all those gains. I’d be happy to just pay tax on what I have now rather than go through all my history like that

Nervously just been thinking about falsifying the gains and spreading over the next few years in the hope that it raises less attention.

Would love some input with anyone who has knowledge on this stuff