5 Cryptocurrency Tax Questions to Ask on April 15th
David Kemmerer's original article for cointelegraph.com reduced by 58%
Depending on what country you live in, your cryptocurrency will be subject to different tax rules. As always, check with a local tax professional to assess your own particular tax situation. The most common tax event from the above is trading one cryptocurrency for another - for example, trading your Bitcoin for Ethereum.
On the other hand, there are other actions that cryptocurrency enthusiasts also commonly take that are not taxable events and do not trigger a tax reporting requirement. Cryptocurrency exchanges are unable to provide their users with accurate tax documentation. The solution to this problem is to leverage crypto tax aggregating tools to collect your data from all platforms to build your holistic tax reports.
Tax, cryptocurrency-focused tax software for automating your tax reporting.
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