Tax should only be paid if you sell the crypto, right?

The IRS requires you to declare your cryptocurrency transactions. This includes the purchase, sale, and exchange of digital assets.

* Legal obligation: It is the citizen's duty to report all sources of income.
* Avoid problems: Failure to declare can lead to fines and other problems with the tax authorities.

What needs to be declared?

* All transactions: Purchase, sale, exchange, and even possession of cryptocurrencies.
* Values: The acquisition and sale value of each asset.
* Platforms: Where you carry out your transactions (e.g., brokerages, exchanges).

When to declare?

* Monthly: If the value of your transactions exceeds R$35,000 in one month.

* Annually: In the Income Tax return, reporting all your transactions throughout the year.

How to declare?

* e-CAC Portal: Access the IRS portal and fill out the specific form for declaring transactions with crypto assets.

Important:
* Acquisition costs: Report the total amount paid for each cryptocurrency, even if you purchased it at different times.

* Capital gains: If you sell a cryptocurrency for more than you paid for it, you will have a capital gain and will have to pay tax on it.
* Fine: Failure to declare or making an incorrect declaration may result in fines.
Where can I find more information?
* Federal Revenue Portal: Visit the Federal Revenue website for more detailed and specific information on declaring cryptocurrencies.
* Accountant: Consult an accountant to clarify any doubts and ensure that your declaration is correct.
Remember: Tax legislation is constantly updated. Therefore, it is important to seek updated information before filing your declaration.$BTC

So, are you going to declare your cryptocurrencies? Leave your comment here.