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Cost basis for crypto

Cost basis for crypto

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Investing for Beginners Step 5: How to Edit Your Cost Basis
Essentially, the cost basis is your initial investment in a cryptocurrency, usually the purchase price. This foundational figure directly. A8. Your basis (also known as your �cost basis�) is the amount you spent to acquire the virtual currency, including fees, commissions and other acquisition. Cost basis = Purchase price (or price acquired) + Purchase fees. Capital gains (or losses) = Proceeds ? Cost basis. Let's.

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Some virtual currencies are convertible, which means that they have an equivalent value in real currency or act as a substitute for real currency. Information on virtual currency is available at IRS. For more information on capital gains and capital losses, see Publication , Sales and Other Dispositions of Assets. Some examples of disposal events include:.