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> How do you actually go about doing that accounting practically given the volatility and the number of transactions? It's basically the same as with stocks. W

> How do you actually go about doing that accounting practically given the volatility and the number of transactions? It's basically the same as with stocks. Work out the equivalent USD value for every trade, and subtract the cost basis to figure out how much capital gains/loss you have on that trade. If valuation is hard (you're trading 5 shitcoins for 1 altcoins), figure out a method you can justify with a straight face and taxman will generally be happy (this, incidentally, is why auditing rich people is difficult).

josu 3y ago
>It's basically the same as with stocks. In many countries, since crypto is not regulated, you can't write off the losses, but you still have to pay taxes on the gains.
- voxic11 3y ago
  What countries don't regulate crypto these days? Certainly the US and EU does.
  - josu 3y ago
    There is no tax harmonization in Europe; therefore, each country regulates taxes differently. While most countries offer some form of guidance, explicit regulation is not universal.
Detrytus 3y ago
In my country it’s even simpler: no one cares about you converting one shitcoin to another, they want fiat currency values of how much crypto you bought and sold, and total crypto assets you own. They calculate taxes based on that (I’m bit fuzzy on the details)
- simonebrunozzi 3y ago
  It would be useful to mention what's your country.