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@ ⚡️DEFAUXKING⚡️
2025-04-25 18:34:00
Record all Bitcoin purchases: List the date, SATs amount, and purchase price in $ for each Bitcoin transaction.
Record all Bitcoin sales(gifts and exchanges count as sales too): List the date, amount of SATs, and sale price for each Bitcoin transaction. (If it were an exchange, you just calculate how much it would have been valued had you sold it for $.)
Now, you can let your tax preparer figure the rest out for you from that info, or you can do the math yourself for your own privacy. I recommend the FIFO method for simplicity’s sake.