CRYPTO COST BASIS
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IS THERE A WAY TO TRACK THE COST BASIS OF ONE'S CRYPTOCURRENCY PORTFOLIO ?
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Cryptocurrencies
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You'll have to create your on spreadsheet to do so. I use Excel. You will need to print and keep a copy of every PP Crypto transaction page for the data. Also keep a record of all new money used to buy positions, these are your initial investments. Since you can only sell in dollar amounts and not coin (share) amounts, record keeping is much, much easier if you sell your full position in each crypto (in dollars) all at once. Your records at a minimum should provide you with what you will need to complete capital gains income tax forms. Not sure if PP will be providing a 1099 each year with this info, but based on their request for taxpaying ID it appears they will send you the tax info you need.
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