AzurePulseStar
Fri Aug 30 2024
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7 answers
1621
What is cost basis in US crypto taxation?
Could you please elaborate on what cost basis refers to in the context of cryptocurrency taxation in the United States? I understand that it's an important aspect of determining one's tax liability, but I'm not entirely clear on how it's calculated or applied. Is it simply the price you paid for the cryptocurrency, or are there other factors involved? Additionally, how does cost basis differ from other forms of investment taxation, and what implications does it have for investors?
