A couple of different cryptocurrencies that I am in have migrated blockchains or went under some type of development where you're swapped tokens for a new set. Where the older blockchain and token is no longer in use and disbanded. I mainly stake and run a masternode, so over years I have accumulated tokens without actually buying from an exchange.
If I transfer my tokens to an exchange and sell them for fiat. How do I file taxes for these crypto assets I don't have original costs or numbers for when they were staked or mined?
Secondly, am I taxed once or twice on staking and mining? Meaning, i am taxed when I receive it and then taxed again when I sell it? If twice, that sounds off, because that could take 40-65 % of the profits away. Please clarify. Thanks!
