Quote from: hgmichna on December 04, 2017, 11:06:24 AM

Quote from: LJF007 on December 03, 2017, 07:33:37 PM

Seems like when I incur a fee to simply move crypto from exchange to wallet, I am purchasing a service at that moment and so performing a taxable Spend at that moment for just that fee amount.

It doesn't look like a gain, more like a loss.

Does anybody know more?

I should have explained better... by "a taxable Spend" I mean "a tax-impactable spending event CT refers to as a Spend type".

A service fee is purchased (incurred) with crypto simply to move the larger crypto balance. Seems to me like the fee part is a tax-impactable event... a Spend in this case, so FIFO (or other method) capital gain/loss calculation takes place and that result goes to one's capital gain/loss tax reporting.

But then also... what was the Spend (or any Spend) used for? That is, was it a tax deductable purpose or not? If I buy a cup of coffee... no (unless it's a business entertainment expense!). But in this situation, if I am buying a service (=incurring a fee) to move my crypto from the exchange to my preferred secure wallet... I'd say yes, the fee is also a deductible expense. That fee expense reduces one's current taxable income and would appear as a deduction on tax reporting.

If this seems to end up being correct, I understand it isn't likely a huge priority. CT is a great help to me... Thank You! In an ideal world, I suppose one way to take care of this is to have the Withdrawal type address this common fee situation. It would treat the fee portion only in the same manner as a "Spend". It would also carry the fee value over to a tax expense report (maybe "Tax Deductible Fee Report"?).

Or perhaps create another Withdrawal type that works like this so people are not suddenly impacted by this when they don't want to be until they choose to be.