What is the best way to find the cost basis of my old cryptocurrency holdings?

3 answers

• Dec 26, 2021 · 3 years ago
  One of the best ways to find the cost basis of your old cryptocurrency holdings is to review your transaction history on the exchange where you made the purchases. Look for the specific dates and amounts of your transactions and calculate the average purchase price. This will give you a good estimate of the cost basis of your holdings. Additionally, you can consult your tax advisor or use specialized software that can help you track and calculate the cost basis of your cryptocurrencies.
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• Dec 26, 2021 · 3 years ago
  Finding the cost basis of your old cryptocurrency holdings can be a bit tricky, but it's not impossible. One method is to go through your old emails and search for any purchase confirmations or receipts from the exchanges you used. These documents often contain the purchase price and date. Another option is to check your bank statements for any withdrawals or transfers to the exchanges. By matching the dates and amounts, you can determine the cost basis. If you're still having trouble, consider reaching out to the customer support of the exchange or seeking assistance from a tax professional.
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• Dec 26, 2021 · 3 years ago
  As an expert in the field, I recommend using a reputable cryptocurrency tax software to find the cost basis of your old cryptocurrency holdings. These software programs are designed to automatically import and analyze your transaction data from various exchanges. They can calculate the cost basis based on the specific identification method or the first-in, first-out method. Some popular tax software options include CoinTracking, CryptoTrader.Tax, and Bitcoin.Tax. By using these tools, you can save time and ensure accurate cost basis calculations for your old cryptocurrency holdings.
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