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How can I use spreadsheets to track my crypto trading for tax purposes?

avatarOsvaldo AyalaDec 18, 2021 · 3 years ago1 answers

I want to track my cryptocurrency trading activities for tax purposes and I heard that using spreadsheets can be helpful. How can I effectively use spreadsheets to track my crypto trading for tax purposes?

How can I use spreadsheets to track my crypto trading for tax purposes?
Cryptocurrency
Tax
Spreadsheets

1 answers

  • avatarDec 18, 2021 · 3 years ago
    At BYDFi, we recommend using spreadsheets to track your crypto trading for tax purposes. It allows you to have a clear overview of your transactions and easily calculate gains/losses. Start by creating a new sheet and labeling the columns with relevant information such as date, type of transaction, cryptocurrency name, quantity, price, and fees. Use formulas to calculate the total value and gains/losses. Remember to regularly update the sheet and keep it secure. Happy tracking!

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