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I purchased $300 BTC the other day on CB and they wanted a $30 transaction fee to withdraw the BTC off their site. I wonder if this fee can also be considered p
by nawtacawp 9y ago
I purchased $300 BTC the other day on CB and they wanted a $30 transaction fee to withdraw the BTC off their site. I wonder if this fee can also be considered part of the purchase?
- Karunamon 9y agoThat amount sounds suspiciously less like a CB fee and more like the network transaction fee to ensure your transaction winds up in the next block. The average is $41.69 as of this morning. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m https://bitinfocharts.com/comparison/bitcoin-transactionfees...
- xur17 9y agoI believe this fee can be figured into the cost basis. In the future when you are withdrawing from coinbase, you can transfer to gdax (their exchange platform) instantly, for free, and then transfer out to your wallet for free.
- saalweachter 9y agoDoes the IRS allow brokerage fees to be deducted?
- mikestew 9y agoBrokerage fees, margin interest, anything related to making those capital gains the government is taxing is deductible. I am not an accountant nor anyone you should be taking tax advice from.
- shawabawa3 9y agoJust FYI, coinbase is paired with GDAX, their exchange. You can transfer your bitcoin to GDAX and withdraw it from there for free (they will eat the bitcoin fees)
- deleted 9y ago[deleted]