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Why Is Record-Keeping for Transaction Fees Important for Cost Basis?

Transaction fees, such as exchange trading fees or network gas fees, can generally be added to the cost basis of the acquired cryptocurrency. This increases the cost basis, which in turn reduces the calculated capital gain or increases the capital loss upon disposal, ultimately lowering the taxable profit.

Accurate record-keeping ensures the trader maximizes this deduction.

How Does the Timing of Settlement for a Crypto Future Impact the Tax Year of the Gain or Loss?
How Do Gas Fees on a Decentralized Exchange Impact the Calculation of Capital Gains/losses?
How Does the Use of Collateral (E.g. Stablecoins) in DeFi Futures Affect Tax Basis?
What Are the Tax Implications for a US Investor upon the Conversion of a SAFT to a Token?