Hi there, I purchased $250 of Litecoin from Coinbase last year. The value went up to $700+ then fell all the way back down again quick quickly. I decided to withdraw the money but discovered they did not have that capability so I transferred to BTC Markets (an account I'd set up the previous year but never used) and withdrew from there back to my bank account. When all was complete, I had lost $8 in total so counted myself lucky I hadn't lost more.
Now I have just received an ATO letter saying I had disposed of crypto and not declared it (which is technically true). I have all the information but cannot figure out how to lodge this alteration to my already submitted tax return. Also, are the ATO really that interested in $8 of CGT loss?
Not sure how to proceed. I don't want to be flagged as some kind of tax evader over $8 but it seems kind of pointless to me.
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