What factors should I consider when calculating the cost basis of inherited virtual currency?

1 answers

• Ashish GuptaMar 30, 2024 · a year ago
  Calculating the cost basis of inherited virtual currency requires careful consideration of several factors. These include determining the fair market value at the time of inheritance, accounting for any fees or commissions paid during acquisition, factoring in any improvements or additions made to the virtual currency, and maintaining detailed records of transactions and value changes. By carefully considering these factors, you can ensure accurate calculation of the cost basis and proper reporting of gains or losses.
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