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Capital gains paperwork if you made a loss?

JJayoo · 2021-11-17 19:06:06

I have been buying small amounts of crypto currency from multiple exchanges throughout the year, averaging between 50-80 euro per week. I have a question in regards to cashing out and how to sort out any paperwork with capital gains tax and how to explain my crypto antics to my aged accountant who does the farm taxes,…

17-11-2021 8:06pm

#1

JJayoo

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I have been buying small amounts of crypto currency from multiple exchanges throughout the year, averaging between 50-80 euro per week. I have a question in regards to cashing out and how to sort out any paperwork with capital gains tax and how to explain my crypto antics to my aged accountant who does the farm taxes, basically she is handed a list of receipts for money coming in and receipts for expenses and she sorts it out.
if she is seeing all these small payments going out of my bank statements and then at the end of the year one payment coming in from a crypto exchange is she going to ask me to explain and supply paperwork showing exactly where it went and where it came for?
the amount coming back to my account would be less than the amount I put in, so will I have to fill out lots of paperwork? I am wary that my accountant may never have heard of cryptocurrency.
if it was going to be a pain I would just leave it as I believe the area will be reformed as more adoption occurs

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