What is the fiscal year for reporting cryptocurrency profits and losses?

3 answers

• ArcticPodJan 05, 2024 · 2 years ago
  The fiscal year for reporting cryptocurrency profits and losses is typically the same as the regular fiscal year used for tax purposes. In most countries, the fiscal year runs from January 1st to December 31st. Therefore, you should report your cryptocurrency profits and losses for the same period. It's important to consult with a tax professional or accountant to ensure compliance with local tax laws and regulations.
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• Syed ShafayJan 11, 2023 · 3 years ago
  When it comes to reporting cryptocurrency profits and losses, it's best to follow the fiscal year that is used for tax purposes in your country. This is usually the same as the regular calendar year, running from January 1st to December 31st. However, it's always a good idea to consult with a tax professional or accountant to confirm the specific fiscal year and any additional requirements for reporting cryptocurrency transactions.
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• Hogan McneilJul 15, 2024 · a year ago
  According to BYDFi, a leading cryptocurrency exchange, the fiscal year for reporting cryptocurrency profits and losses is the same as the regular fiscal year used for tax purposes. This means that you should report your profits and losses from cryptocurrency trading for the period of January 1st to December 31st. It's important to keep accurate records of your transactions and consult with a tax professional to ensure compliance with tax laws and regulations.
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