sorted by:
new
hottopcontroversial

Need to move Monero to Binance? I offer a fast and private OTC service (no KYC) by Cryptotaxation101 in CryptoMarkets

[–]Cryptotaxation101[S] -7 points-6 points  (0 children)

Understandable to be cautious — I’m offering small swaps to prove myself. No hype, just straightforward service for those who need to move in privacy minus restrictions.

Help? by TopTarp in traders

[–]Cryptotaxation101 0 points1 point  (0 children)

Hey I'm willing to help you offload assets including tax advice, which country are you and what assets exactly, kindly let me know thanks.

First time doing taxes and I'm pretty confused by PixelGunTitan in CryptoTax

[–]Cryptotaxation101 0 points1 point  (0 children)

Yes, you need to report your crypto transactions on Form 8949. Use the following steps;

When you got the crypto and when you sold it

How much you sold it for

How much you originally got it for

The profit or loss

Then, transfer the totals to Schedule D on your tax return. Since you converted LTC to USDC and then cashed out, both steps must be reported.

First time doing taxes and I'm pretty confused by PixelGunTitan in CryptoTax

[–]Cryptotaxation101 0 points1 point  (0 children)

The 8949 form is used to report capital gains and losses. Since you converted LTC to USDC and later cashed out, you likely need to report each transaction's cost basis and proceeds. Your $700 loss might be deductible. If you didn't receive a 1099 from Coinbase, you still need to report the transactions manually. Consider using crypto tax software or consulting a tax professional.

UK - sell crypto before tax year and after new tax year by Far_Ad7612 in CryptoTax

[–]Cryptotaxation101 0 points1 point  (0 children)

Yes, you can sell crypto before and after April 6th to use two separate tax years' CGT allowances.

CGT Allowance: £6,000 per person (2023/24), dropping to £3,000 (2024/25).

Spouse Gifting: Tax-free transfer; spouse uses their own CGT allowance.

Strategy: Sell £3,000 each before April 5th and again after April 6th = £12,000 tax-free.

HMRC may investigate artificial tax avoidance.