Hey everyone! I traded under 10,000$ of crypto this year, but the tax form says acquisition 50,000 and the cost says 51,000 for a loss of 1000. Why are the figures so high for those 2 sections. I did a whole lot of day trades, but it was mainly exchanging for other currency…Am i not understanding something here?
Each trade where you change from one currency to another will add to the value of your reported acquisitions and costs … these are cumulative values … that may or may not explain the position … so depends on the TOTAL value of your trades, not what you put in FIAT wise.
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.