Post
Topic
Board Beginners & Help
Topic OP
Crypto Tax Question
by
eminan
on 07/03/2021, 07:33:37 UTC
So I've officially been in the crypto game since the beginning of this year. I've been making buys from P2P and exchanges and sold a few coins here and there mostly for small losses for investing in other altcoins.

Since the so called "experts" are saying this bull might end towards the end of the year, I'm planning to sell off (DCA) at least half of my portfolio towards the end of the run.

Since you have to hold your crypto at least a year for it to be tax exempt I'm really concerned about all the capital gains taxes I'll have to pay since I'll most likely be making most of my sells before the year ends.

Are there any crypto tax resources or advice people on here would recommend? I'm looking at some sites like CryptoTrader.tax.

But my main concern is how to lessen the capital gains hit I'm going to take if I sell within a year, it seems like there's no way around this if I don't hold my crypto for a year. Any thoughts?