Can I claim crypto fees for unsold Cryptocurrencies

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 · Accepted Answer

BlakeATO · Answer

It depends on if you're a trader or an investor. As an investor, you work on capital gains tax rules, which means when you sell the crypto you will include these costs in the cost base calculation for that capital gain event. Each event is separate. Your profits are taxable, even if they're reinvested into other crypto. That new invested amount becomes the cost base for the next asset. As a trader, you work under business income tax rules. Your crypto is your trading stock, and you would claim the costs as general operating expenses. If you're holding Cryptocurrency as an investment, you can read about calculating your capital gain on our website. or as a business, you can read about General business operating expenses on our website, too.

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