Taxoshi

If you are unsure about whether you need to report the profit or loss from your digital currency transactions on your tax return, it is advisable to consult with Inland Revenue or your accountant. In New Zealand, Inland Revenue considers digital currencies as a form of property and requires the use of First in First Out method to calculate profit or loss in New Zealand Dollars at the time of the trade, even if it involves trading between cryptocurrencies. This process can be time-consuming, especially when dealing with a small number of trades. However, if you have incurred losses, you may be eligible to deduct them from your income tax. To simplify this process, our platform utilizes algorithms to automate currency conversions and calculate your trading and mining profit or loss in accordance with Inland Revenue's guidance. By providing us with your exchange exports and mining addresses, we can offer you the best crypto tools, assistance from crypto trading experts, comprehensive crypto trading analysis tools, advanced charting tools for crypto, effective crypto research tools, tools for cryptocurrency investigation, and reliable cryptocurrency monitoring tools.