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Get your taxes done using TurboTax
Hi Spino,
Thanks a ton for your response on this thread. Yes, i agree that they should not be asking me for these details. Overall, this is a substandard service from the exchange. I have tried my level best but what i got from them is the cost report only. They are asking for manual updates at their platform after going though this report. I have sent my analysis of this cost report but they have not confirmed anything thus far.
Good part is that i have not sold any Crypto in the last year and this is a case of transfer from one platform to another platform only.
I have am enclosing this report for your ready reference. Given below is the link of this report:
https://mega.nz/file/ZzsXma5Y#JskpcXhPKw1LkBXE8hx8RuRZYJ9MRAJoHtr038lgHo8
1. 1st tab in excel - Summary of the number of Crypto bought - This tab provides the summary of the number of the Crypto purchased at the exchange along with the amount spent for this Crypto. Example - Crypto A - Purchased Qty was 4.872 for USD [phone number removed]. Crypto B Purchased Qty was 829.88 for USD [phone number removed]50541. So on.
2. 2nd tab in excel - Exchange transactions - This tab provides the detailed transactions from the exchange (Purchase and transfer).
Example 1 - Single purchase - Crypto A QTY 4.872 was purchased (Referring column C = Match) on 06/15/2022 for USD [phone number removed] (Old platform). This is another row showing transfer (Referring column C = Transfer) to Platform Y for all the Qty for this Crypto on 15/11/2022. In this case, I will be considering Acquisition value as USD [phone number removed].
Example 2 - Multiple purchases - Example - Crypto B Qty 829.88 was purchased on various dates but transferred on 15/11/2022. The acquisition amount is USD 579.44.
3. 3rd tab - Summary - Is the summary of the cost report report for updating the acquisition details. This tab is also showing the screen shot from the exchange for updating the details. They are providing single row per Crypto. I will be utilizing the information from row 2 to 9 for for updating the acquisition reports:
I think i can take single date as 11/15/2022 for showing acquisition in this case. Anyhow, if i sell the Crypto now then it is the case of "Long term capital gain" any how.
Please feel free to raise questions if any.
Thanks,
Shashank