Saturday, August 14, 2021

The taxman cometh

I picked up crypto earlier this year, and have since then moved a fair amount of regular savings(which have negative interest) into some of the bigger crypto currencies. Starting out i bought Bitcoin and Eth on the Revolut app on my phone. Over the next month i had bought crypto on Binance and Coinbase as well. I spend some time with various smaller coins, but ultimately decided to convert them into ADA BTC and ETH, which created alot of taxable transactions. I didn´t really give taxes any thought, as i am often the type of person who sometimes just does things spontaneously, and worry about the details later. I´m beginning to feel like later is approaching, and that i should start looking into settling the score with my government. I live in Denmark, and dont know whether i need to pay tax on what i earned yearly, or if i can wait it out and pay the tax when i someday hopefully sell it again at a gain. Is there some free app or website that could help me get started with this process, so that i can begin calculating what i owe, if not actually pay. I realize this might have become a wall of text, but i hope somebody can help me with this next necessary step in crypto ownership.

Thanks guys

;TLDR Bought, converted and sold alot of small (~3000usd total) crypto without any regard for taxable events. Now what do?


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