GiseleD
Expert Alumni

Investors & landlords

We cannot make these exact calculations for you, but we can guide you on how to do them. 

 

1) You cannot deduct the fees to transfer coins on/off exchange or to/from a wallet. Those are lost to the miners because they did not occur in the cost of a sale; they are just transfer fees. 

 

2) However, the fee to execute the trade is deductible. Just add the trading fee to the basis of the token traded. 

 

For example, if you sell 1 ETH and your original cost basis (what it cost you to buy the token) was $200, then you will adjust the basis by adding the trading fee. If the trading fee was $10, then your new cost basis in the ETH you sold is $210.

 

Keep good records in case you are ever audited. 

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