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Fragments of untradable crypto left on exchanges

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Initiate

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Hey guys, i am in the process of trying to pull all of my trade information from exchanges to meet my reporting requirement as recomended. First question is that if i pull and record all of this information as you request we do. Wouldnt that activity make us conducting a business on its own?

I am also having issues with small amounts of fragments of crypto stuck in multiple wallets that are a too small of a qty to be traded.
I want to remove all of my money, pay my tax and put all of this down as a big waste of my time and money. I cannot remove these fragments and it can add up to a few dollars over multiple wallets and probably multiple exchanges. Am i to take a loss leaving them there? Can i claim these losses? I have tried trading some crypto back in and then back out to try and trade those fragments out, but it is just complicating my transaction list. Do i have to pay CGT on these amounts when i close my accounts?
I am at the point of considering taking time off work to process and calculate my transactions for bugger all value.

I would pay someone to do this for me, but i have been quoted $10-25 per transaction to convert values to AUD, work out profit fees etc and most of my trades are nowhere near that value of profit. So i would be well into the negatives for all of my activities. If it has to come to this can i claim this? Or would this be added to the managing my tax affairs for next years tax return?
If i had to pay that amount can i claim them as an exspense for each transaction in this year?

Pulling my hair put here. Anyone have any suggestions to simplify this process?
Thanks
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Devotee

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https://www.ato.gov.au/Business/Starting-your-own-business/Before-you-get-started/Are-you-in-busines...

Intention to make money, and repetitive nature would be enough for are in you in business not needing record keeping - wouldn’t they?

Regards the small holdings why do you need to convert to $AUD to vakue in $AUD.

My dad had some shares that sunk in value as the company went broke and a resolution of the company was passed to buy them (without a right to say no).

That the wallet firm doesn’t manage this for you seems economically inefficient?
1 REPLY 1

Most helpful response

Devotee

Replies 0

https://www.ato.gov.au/Business/Starting-your-own-business/Before-you-get-started/Are-you-in-busines...

Intention to make money, and repetitive nature would be enough for are in you in business not needing record keeping - wouldn’t they?

Regards the small holdings why do you need to convert to $AUD to vakue in $AUD.

My dad had some shares that sunk in value as the company went broke and a resolution of the company was passed to buy them (without a right to say no).

That the wallet firm doesn’t manage this for you seems economically inefficient?