A quickstart to Crypto Taxes 101. Crypto taxes can be a tricky thing to navigate, and it’s even more difficult if you’re just getting started.
In this video I’m going to go over the basics of crypto tax law, and how it applies to harvesting losses, profits and gains on your crypto investments.
• Harvest.Art — Harvest those NFT losses
• https://lttlmg.ht/tokentax — Use Token Tax to track your wallet
Taxable events include:
• Trading crypto to fiat currency like the US dollar
• Trading one crypto for another cryptocurrency
• Spending crypto to purchase goods or services
• Earning crypto as income (staking, lending interest, referral awards)
Non-tax event actions include:
• Buy and HODL
• Self wallet transfers, i.e. transferring from one wallet you own to another wallet you own
My hardware wallet of choice is Ledger: https://lttlmg.ht/ledger
My course Zero to DeFi: zerotodefi.com