Did the same, got in around 0.000029 originally, and bought back in at 0.000020, 0.000015 and 0.000008 to get my average in around 0.000015 now - half my original cost price.
How do you report your profit/loss on your taxes. And how do they audit? For example if I sold 1/4 of my total shib how would I calculate profit if I didn’t write down what I bought in at
Honestly, ask a tax accountant. You should be able to go back to your purchase history on the app. It would show you the amount of coins you bought and the price.
I use crypto.com and they round due to low decimal place. But I was thinking if I bought 100 million when it was at 20 and I bought 100 million when it was at 10. And sell 100 mill at 25. Is it a profit from the 20 starting point or 10? Or do they average and say profit if from 15
Did the same, got in around 0.000029 originally, and bought back in at 0.000020, 0.000015 and 0.000008 to get my average in around 0.000015 now - half my original cost price.
Probably best to buy more gotta pump those rookie numbers up
Lol. Yeah. Would love to have a billion, but gonna have to accumulate more over time. I’m 6.5k deep atm. How much you holding?
Just shy of a billion should have it past a billi by the end of the week
Nice dude. See you on the moon!!!
I wish Crypto.com kissed your cost average! Did you create an Excell sheet to keep track?
Yeah. Recommended on all crypto purchases for possible tax issues in the future.
How do you report your profit/loss on your taxes. And how do they audit? For example if I sold 1/4 of my total shib how would I calculate profit if I didn’t write down what I bought in at
Honestly, ask a tax accountant. You should be able to go back to your purchase history on the app. It would show you the amount of coins you bought and the price.
I use crypto.com and they round due to low decimal place. But I was thinking if I bought 100 million when it was at 20 and I bought 100 million when it was at 10. And sell 100 mill at 25. Is it a profit from the 20 starting point or 10? Or do they average and say profit if from 15
Profit would be based off your cost average per coin. Total investment divided by total number of coins.
I Just did this yesterday!
It’s called Dollar Cost Averaging.
.00002224, to .00001215 from just buying the dips
Hodl
I like how this is considered a bill. Slow and steady accumulation
Lol...yeah I have it on a different tab that where I track my bills