What factors should I consider when calculating the adjusted cost base for digital currencies?

2 answers

• Feb 18, 2022 · 3 years ago
  Calculating the adjusted cost base for digital currencies requires careful consideration of several factors. First, you need to take into account the initial purchase price of the digital currency, including any fees or commissions. Then, you should also factor in any transaction fees or charges that you incurred when buying or selling the currency. Additionally, it's important to keep track of the dates of acquisition and disposal, as this will impact the adjusted cost base calculation. Finally, don't forget to consider any capital gains or losses that you may have realized during the holding period. By taking all of these factors into consideration, you'll be able to accurately calculate the adjusted cost base for your digital currencies.
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• Feb 18, 2022 · 3 years ago
  When calculating the adjusted cost base for digital currencies, it's important to consider a few key factors. First, you'll want to take into account the initial purchase price of the digital currency, including any fees or commissions. Next, you should factor in any transaction fees or charges that you incurred when buying or selling the currency. Additionally, it's important to keep track of the dates of acquisition and disposal, as this will affect the adjusted cost base calculation. Finally, don't forget to consider any capital gains or losses that you may have incurred during the holding period. By considering these factors, you'll be able to accurately calculate the adjusted cost base for your digital currencies.
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