My average cost is $31,100. I have bought all over the place, from $19K all the way up to $62K.
When I sell, which won't be for another 10-15 years (if that, I might keep forever), how do I calculate how much tax I owe? Can I simply calculate it by my average cost or do I need to select certain lots and calculate from those basis costs?
I have records of all of my purchases.
Honestly, I have never sold any BTC I bought so I don't even know what the IRS form looks like.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments