What factors should be considered when calculating the cost basis of digital assets?

1 answers

• OrangeQuackJan 21, 2023 · 3 years ago
  Calculating the cost basis of digital assets can be a complex task. It's important to consider several factors in order to accurately determine the cost basis. First, you need to take into account the purchase price of the asset, including any fees or commissions paid. Next, consider any expenses related to the acquisition, such as legal fees or transfer fees. Additionally, be sure to factor in any adjustments or modifications made to the asset, such as splits or dividends. Finally, don't forget to calculate any capital gains or losses incurred during the holding period. By considering these factors, you can ensure an accurate calculation of the cost basis of your digital assets.
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