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How can I calculate the cost basis for my cryptocurrency holdings after a partial wash sale?

avatarSKELETON PLAYJan 14, 2022 · 3 years ago1 answers

I recently sold a portion of my cryptocurrency holdings and repurchased them within 30 days. How can I calculate the cost basis for my remaining holdings after this partial wash sale?

How can I calculate the cost basis for my cryptocurrency holdings after a partial wash sale?

1 answers

  • avatarJan 14, 2022 · 3 years ago
    When it comes to calculating the cost basis for your cryptocurrency holdings after a partial wash sale, it's important to consult with a tax professional. They can help you navigate the complexities of tax laws and ensure you're accurately reporting your transactions. Additionally, using a cryptocurrency tax software can simplify the process by automatically calculating your cost basis and generating tax reports. Platforms like BYDFi offer comprehensive tax solutions for cryptocurrency traders, making it easier to stay compliant with tax regulations.