How can I use Binance 1099-B to calculate my capital gains and losses from cryptocurrency trading?

1 answers

• A-learnerMay 18, 2023 · 3 years ago
  Absolutely! Here's a step-by-step guide on using Binance 1099-B to calculate your capital gains and losses from cryptocurrency trading: 1. Login to your Binance account and go to the 'Reports' section. 2. Select 'Tax Reports' and choose the relevant tax year. 3. Download the 1099-B form for that tax year. 4. Open the form and carefully review the transactions listed. 5. Identify the transactions that resulted in capital gains or losses. 6. Calculate the total capital gains and losses for each cryptocurrency. 7. Utilize the information from the 1099-B form to accurately report your capital gains and losses on your tax return. Remember, it's always a good idea to consult with a tax professional for personalized advice based on your specific situation. Happy trading!
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