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CRYPTOCURRENCY TAXES | How To Figure Out Your Taxes From Running Gala Games Nodes

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Use Koinly for cryptocurrency taxes – https://koinly.io/?via=9DCC1E25 ▻Earn interest on your cryptocurrency using Celsius – $40 …

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16 Comments

  1. Thank you so much for this valuable information. I was thinking I would have to claim the GALA rewards coins as income even when I have not converted them to erc-20 gala coins. this clears things up greatly!

  2. Aren’t the nodes and gas fees tax deductible because it’s what we needed to purchase in order to bring in income??

  3. So if I trade $1000 of bitcoin to eth, trade it back to bitcoin, and trade it back again to eth I'm taxed on $3000. Then if I send that $1000 to someone or buy an NFT I will be taxed on that too. And if it crashes from $1000 to $600 and I sell I pay tax on that, end up losing $400, and also paying a huge amount of tax on the trades?

  4. So basically don't sell, trade or cash out untill you're a millionaire so you'll actually have money when u cash out.

  5. Thank you for mentioning crypto conversions as taxable events. So many out here think they can convert into a stablecoin or use a crypto debit card and not pay taxes. More people need to be mentioning these as taxable events.

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