![]() ![]() If you’re unable to access your account, you should reach out to Gate.io to get a copy of your transaction history for tax purposes. It’s still necessary for residents of these countries to report their past Gate.io transactions on their tax returns. Is Gate.io legal?Ĭurrently, Gate.io is restricted in countries like the United States and Canada. However, you can deposit assets into Gate.io with no KYC. To withdraw assets from Gate.io, you’ll need to complete KYC (Know Your Client) verification. Learn more about how CoinLedger works here.įor more information, check out our guide to how cryptocurrency is taxed. You can test out the software and generate a preview of your gains and losses completely for free by creating an account. How Does Cryptocurrency Tax Software Help?īy integrating with all of your cryptocurrency platforms and consolidating your crypto data, CoinLedger is able to track your profits, losses, and income and generate accurate tax reports in a matter of minutes. If you use additional cryptocurrency wallets, exchanges, DeFi protocols, or other platforms outside of Gate.io, Gate.io can't provide complete gains, losses, and income tax information. The trouble with Gate.io's reporting is that it only extends as far as the Gate.io platform. Perhaps you also trade on Coinbase or earn interest from BlockFi. Many cryptocurrency investors use additional exchanges, wallets, and platforms outside of Gate.io. If you are in the United States, you can learn which forms you need to fill out with our blog post: How to Report Cryptocurrency On Your Taxes. Once you have your calculations, you can fill out the necessary tax forms required by your country. To do your cryptocurrency taxes, you need to calculate your gains, losses, and income from your cryptocurrency investments in your home fiat currency (e.g. Just like these other forms of property, cryptocurrencies are subject to capital gains and losses rules, and you need to report your gains, losses, and income generated from your crypto investments on your taxes.įor a complete and in-depth overview, please refer to our Complete Guide to Cryptocurrency Taxes. Other forms of property that you may be familiar with include stocks, bonds, and real-estate. Cryptocurrencies like bitcoin are treated as property by many governments around the world-including the U.S. ![]()
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