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Replying to Avatar Michael S Wildcard ✨ πŸ˜Άβ€πŸŒ«οΈπŸ—½βš‘

Moving bitcoin from exchange to self custody, accounting for the fee (sale of bitcoin)say you decide to move your btc. You pay a fee to do so. In the case below the fee is 38,260 Sats. This would be considered a sale of those Sats, therefore you will have to determine the cost basis of those Sats (what you paid for them) in order to calculate your tax consequence...

Am I right or wrong?

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Michael S Wildcard ✨ πŸ˜Άβ€πŸŒ«οΈπŸ—½βš‘ 1y ago

Here is another article, my last transfer to cold had a fee of 4921 Sats. Tracking this will be a fucking accounting nightmare. Which I guess 99% of you don't, won't or care to do.

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