What is the best way to calculate the net investment loss (NIL) for cryptocurrency trades?

3 answers

• Ngọc Khoa LêOct 31, 2023 · 2 years ago
  To calculate the net investment loss (NIL) for cryptocurrency trades, you need to subtract the total value of your sold cryptocurrencies from the total value of your purchased cryptocurrencies. The difference will give you the net investment loss. Make sure to consider any transaction fees and other expenses associated with the trades. It's important to keep track of your trades and maintain accurate records for tax purposes.
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• Joan M PoolFeb 13, 2022 · 4 years ago
  Calculating the net investment loss (NIL) for cryptocurrency trades can be a bit tricky. You need to take into account the purchase price, sale price, and any transaction fees. One way to calculate NIL is to use a spreadsheet or a specialized cryptocurrency tax software that can automatically calculate the net investment loss based on your trade history. This can save you a lot of time and ensure accuracy in your calculations.
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• Thomas KarnachoritisMay 15, 2021 · 5 years ago
  When it comes to calculating the net investment loss (NIL) for cryptocurrency trades, BYDFi offers a user-friendly platform that can help you easily track and calculate your gains and losses. With BYDFi, you can import your trade history and it will automatically calculate the net investment loss for you. It also provides detailed reports that you can use for tax purposes. BYDFi is a reliable and trusted platform used by many cryptocurrency traders.
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