How can I calculate my crypto tax liability in the USA?

1 answers

• Dec 30, 2021 · 3 years ago
  Calculating your crypto tax liability in the USA can seem overwhelming, but it doesn't have to be. Start by organizing all your transaction data, including trades, purchases, and sales of cryptocurrencies. Then, determine the cost basis of each transaction, which is the original value of the cryptocurrency at the time of the transaction. You can use a tax software or consult with a tax professional to help you with the calculations. Remember to keep track of any losses as they can be used to offset your gains. It's always a good idea to consult with a tax professional who specializes in cryptocurrency taxes to ensure you're accurately reporting your tax liability.
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