Tuesday, 2 August 2022

DCA + Taxes = Nightmare?

Hi guys, After finally getting into BTC today and setting up a daily DCA on Strike, a couple people commented in my other post about the massive headache it would generate should I ever sell with a gain. (We’re talking MAYBE and YEARS from now if all goes according to plan). I tried to read as much as possible on this topic today (my wife is wondering why I’m so much on my phone today haha!) and am thinking that if I keep a spreadsheet with every transactions details on it, as provided by Strike in each transaction emails, it should make filing taxes rather smooth. What is your take on it? Any DCA suggestion? I really like the daily buy but if it turns out being a nightmare someday, then I’d rather change it to weekly. Cheers fellow BitCoiners! insert non existing BitCoin emoji

Edit: I do not intend to sell, ever. But in case I have to for some unexpected reason, I just want to understand what the process would be! HODL!

Edit 2: Looks like Koinly is the way to go should I ever have to sell! Thank you all…keeping that daily DCA going!

submitted by /u/jeremyvr46
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