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Deductions & credits
I've read these posts and I'll try to consolidate them:
Crypto 1 you got for "Free" . 12 units at a fractional cost less than $1 = Basis "$0"
You traded Crypto 1 for 14.07 DOGE = Value of $2.29
$2.29 are the proceeds for Crypto 1
$2.29 is also the basis for DOGE
The only taxable transaction so far is Crypto 1 Basis "$0" Proceeds $2.29
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March 16, 2022
6:21 AM