When you dispose of a crypto asset exchange token, such as Bitcoin, you may need to pay Capital Gains Tax (CGT) if you sell the token at a profit. The crypto market has been very volatile over the last few years with huge losses, which also need to be reported.
If you’d like a summary of the main tax implications from buying, selling and investing in cryptocurrency, please read our guide, which covers the following topics:
- What is cryptocurrency?
- Common crypto assets
- Where is cryptocurrency located for tax purposes?
- Do you pay tax on crypto gains?
- When do you pay tax on crypto?
- Record keeping
The TaxAssist network provides a crypto currency solution to individuals and businesses so your crypto taxes can be prepared quickly and efficiently.
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