[Guide] Crypto taxes basics — capital gains & withholding, the essentials

lots of people will be confused next filing season, so the rough frame (see a tax pro for specifics): 1. Tax usually triggers on REALIZATION. Just holding unsold = unrealized, generally not taxed 2. Proof of cost basis is everything. Keep trade history + deposit/withdraw records year-round 3. Log losses too — if they offset within the same period, reporting losses saves tax 4. Moves to overseas exchanges / wallets can still be traceable. Keep records 5. Fees are often deductible as costs → keeping trade + rebate records helps bottom line: whoever keeps clean records all year coughs up the least at tax time