Bitcoin Forum
April 23, 2018, 03:28:29 PM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Regarding taxes from regular trading.  (Read 250 times)
jaideep1000
Full Member
***
Offline Offline

Activity: 195
Merit: 100


View Profile
July 11, 2017, 03:47:11 PM
 #1

Wanted to ask a simple question.

Suppose I want to file my tax return from trading bitcoin.

Is it a good method to just make a weighted average between all the buys and sells I did and then calculate profit on that and pay taxes according to my tax slab?

Just started this year so please let me know if I'm missing anything.

I keep records of all my trades so have all the info on hand.(Although its quite a lot of data to process)


Thanks,
-J
1524497309
Hero Member
*
Offline Offline

Posts: 1524497309

View Profile Personal Message (Offline)

Ignore
1524497309
Reply with quote  #2

1524497309
Report to moderator
1524497309
Hero Member
*
Offline Offline

Posts: 1524497309

View Profile Personal Message (Offline)

Ignore
1524497309
Reply with quote  #2

1524497309
Report to moderator
1524497309
Hero Member
*
Offline Offline

Posts: 1524497309

View Profile Personal Message (Offline)

Ignore
1524497309
Reply with quote  #2

1524497309
Report to moderator
No Gods or Kings. Only Bitcoin
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
kabit9
Full Member
***
Offline Offline

Activity: 308
Merit: 102



View Profile
July 11, 2017, 03:58:11 PM
 #2

several threads here point to filing taxes as you would equity income.

WA method is absolutely incorrect. all buy / sell trades are accounted for individually and profit/loss calculated.

jaideep1000
Full Member
***
Offline Offline

Activity: 195
Merit: 100


View Profile
July 11, 2017, 07:02:02 PM
 #3

I do know about the other threads. However wondering if anything has changed after GST.
@prashant
Hero Member
*****
Offline Offline

Activity: 630
Merit: 502


View Profile
July 12, 2017, 03:44:37 AM
 #4

I do know about the other threads. However wondering if anything has changed after GST.
Gst has no effect on bitcoin trading fees as far i know.it is just everyone has to pay withraw fess from exchanges so there might be increment in that just like there is some increment in buying/selling using card transactions.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!