- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
The cost basis is what you paid for it. It sounds like you paid zero so, yes, the cost basis is zero. However, if this was a transfer from your friend then their cost basis transfers. So you can enter what they paid for the crypto in as the cost basis. You just need to get some kind of proof from them of what they paid.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 16, 2024
3:18 PM