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Get your taxes done using TurboTax
@zakdaks you lost me on most of that question. Your gain is the difference between the ultimate selling price and the original basis or purchase price of the asset. If you use yobit to buy btc and eventually cash out for USD, the basis of the asset is whatever you paid to yobit. If you paid very little, then you may have a very large gain.
(The same thing applies to any asset; if your granddad bought a pack of baseball cards for 25 cents and gave you one that turned out to be worth $10,000, then your capital gain will be $9,999.75.)
(The same thing applies to any asset; if your granddad bought a pack of baseball cards for 25 cents and gave you one that turned out to be worth $10,000, then your capital gain will be $9,999.75.)
‎June 5, 2019
5:02 PM