- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Safemoon crypto currency up 4783% in a month
Posted on 4/20/21 at 11:30 am to TigerTatorTots
Posted on 4/20/21 at 11:30 am to TigerTatorTots
quote:
And everyone needs to note that anytime you jump from USD to Coin X to Coin Y back to Coin X to USD, each jump is a taxable event.
For example: buying BNB, converting to Safemoon, converting back to BNB and then converting to USD is 3 taxable events.
Curious how one would determine the cost basis for the SafeMoon coins that are continuously redistributed to your account as transactions by other buyers and sellers complete? Since my initial purchase made only hours ago, thousands of coins have been added to my balance...
1
Posted on 4/20/21 at 11:34 am to 22jctiger22
quote:You'd take the price of the coin at the time it enters your wallet. There should be a time stamp when coins arrive and then when filing taxes, you can search based upon a given time, what the price of a coin is.
Curious how one would determine the cost basis for the SafeMoon coins that are continuously redistributed to your account as transactions by other buyers and sellers complete? Since my initial purchase made only hours ago, thousands of coins have been added to my balance...
For my own knowledge bc I haven't looked into Safemoon, what do you mean you have gotten thousands of coins after your initial purchase? If you buy X amount, does X amount arrive in your wallet? If so, what are the other coins arriving for/from?
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News