MultiversX Tracker is Live!

BTC Selling Tax Question - Calculate by average cost or by chosen lot when selling?

Bitcoin Reddit

More / Bitcoin Reddit 81 Views

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.

submitted by /u/gookymo
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments