Say I bought some BTC on one platform and then immediately transferred the BTC to a another wallet. I am using adjustedcostbase.ca, which allows for ‘buy’ and ‘sell’ as actions I can record.
The ‘buy’ portion is pretty easy - x CAD = this many ‘shares’ of bitcoin. However, when I transfer out, I pay in BTC, hence reducing the number of ‘shares’. I’m not sure how I should record the transfer - hence this post.
I do assume I could enter a ‘sell’ action, indicating a ZERO price, input the number of ‘shares’ (i.e. bitcoin price), and then in commission write the corresponding CAD value for the transaction fee. Is this the appropriate way to handle this?
To be by the book, this triggers a superficial loss because I am ‘selling’ shares to make the transaction happen. How is everyone else tracking these events?
No comments:
Post a Comment