When transferring BTC to my binance, how do i set that transfer as having a zero cost basis, because I can’t prove where I got it from since it came from so many years ago.
so the question is how do I set the transfer as zero cost bases as I have used that BTC to trade alts.
It’s less about where the BTC came from: its more important to estimate what you paid for it and when. Short term versus long term capital gains can make a big difference, as well as keeping FIFO straight.
Let’s say I paid something for them at an exchange a long time ago. how would I put that in, given that moving the coin from the long term storage to exchange is only seen as a deposit?