How do I calculate capital gains for cryptocurrency when selling my home?

1 answers

• Itay SteingoldAug 09, 2023 · 2 years ago
  Calculating capital gains for cryptocurrency when selling your home is similar to calculating capital gains for any other asset. You need to determine the cost basis, which includes the purchase price and any associated fees. Then, subtract the cost basis from the selling price to calculate the capital gain. It's important to keep detailed records of the transaction, including the date of purchase and sale, as well as the fair market value of the cryptocurrency at the time of the sale. Consulting with a tax professional is advisable to ensure accurate calculation of the capital gains tax and compliance with tax laws.
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