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I had the same problem with the Canadian equiv (CRA). I just treated it like I bought it all at $0 / BTC. I was selling between $100 and $1000, with an average
by 3pt14159 10y ago
I had the same problem with the Canadian equiv (CRA).
I just treated it like I bought it all at $0 / BTC. I was selling between $100 and $1000, with an average purchase price between $4 and $10, so the cost was basically minuscule.
- smackfu 10y agoI would personally be wary of a $0 purchase price since that seems more like a gift to someone reviewing it.
- 3pt14159 10y agoIn Canada you just file capital gains or expenses for anything under how much your expense / gain was. If you get reviewed or audited you can revise your documents and you'll get more back. It's kinda interesting because a lot of people will claim less than the levels that would normally trigger an audit (49% of household expenses towards rent, say) and then if they get audited upwards revise it to 75%. It's like a societal cheaper NASH equilibrium, since both the individual and the government gets penalised for being overzealous.
- mahyarm 10y agoBut you wont get penalized for overpaying tax right?