How does CGT calculation apply to gains from cryptocurrency trading?

1 answers

• Dec 27, 2021 · 3 years ago
  When it comes to calculating Capital Gains Tax (CGT) on gains from cryptocurrency trading, it's important to understand the specific rules and regulations in your jurisdiction. While I can't provide specific tax advice, I can give you some general information. CGT calculation typically involves determining the cost basis of the cryptocurrencies you sold, which includes the purchase price, transaction fees, and other associated costs. You then need to calculate the proceeds from the sale, which is the amount you received in exchange for the cryptocurrencies. The difference between the proceeds and the cost basis will be your capital gain. Keep in mind that tax laws can vary, so it's always a good idea to consult with a tax professional or refer to the tax laws in your country to ensure accurate CGT calculation for cryptocurrency trading.
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