- 25/6/19
- 42
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I just completed my personal taxes and one of the questions was did you trade crypto. I did pay a TD in crypto for 3 watches last year, but these transactions were through my business, not my personal accounts. Officially the goods are now assets of my business, and I am custodian.
So I did not declare crypto on my personal taxes, as I received no personal income from the transactions. But I fully intend to declare this on my business taxes.
Do you think it would be easier just to declare this as personal? I bought crypto, held them for less than minute then transferred ownership. The gains are a couple of dollars at most.
Anyone else faced with this tax issue? All advice appreciated.
So I did not declare crypto on my personal taxes, as I received no personal income from the transactions. But I fully intend to declare this on my business taxes.
Do you think it would be easier just to declare this as personal? I bought crypto, held them for less than minute then transferred ownership. The gains are a couple of dollars at most.
Anyone else faced with this tax issue? All advice appreciated.