What are the steps to calculate realized gain in the context of digital currencies?

1 answers

• Nov 24, 2021 · 3 years ago
  Calculating realized gain in the context of digital currencies is a crucial step for investors. Here's how you can do it. First, determine the purchase price of the digital currency. This is the price at which you acquired the currency. Next, determine the sale price of the currency. This is the price at which you sold the currency. Subtract the purchase price from the sale price to calculate your realized gain. If the result is positive, you've made a profit. If it's negative, you've incurred a loss. Remember to keep accurate records of your transactions and consult with a tax professional to ensure you're meeting your tax obligations. If you have any further questions, feel free to ask!
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