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SPECIAL FEATURE: CRYPTOASSETS AND BLOCKCHAIN Cryptocurrencies, Bitcoin and Blockchain: An Educational Piece on How They Work Page SF1How Futures Trading Changed Bitcoin Prices Page SF36Blockchain
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01
Identify the cryptocurrencies you want to track.
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Gather the current prices of these cryptocurrencies from reputable exchanges or financial websites.
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Note the price of each cryptocurrency at a specific time for comparison.
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Monitor and record the prices at regular intervals, such as hourly or daily.
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Calculate the percentage change in price between the intervals.
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Cryptocurrency price changes refer to the fluctuations in the value of cryptocurrencies in the market, which can occur due to various factors such as market demand, investor sentiment, regulatory news, and technological developments.
Individuals and businesses that engage in buying, selling, trading, or otherwise disposing of cryptocurrencies are typically required to report price changes for tax purposes.
To fill out cryptocurrency price changes, individuals must record the purchase and sale prices of the cryptocurrencies, along with the dates of transactions, and report this information as part of their tax filings, usually on specific tax forms designated for reporting capital gains.
The purpose of reporting cryptocurrency price changes is to accurately calculate capital gains or losses for tax purposes, ensuring compliance with tax regulations.
The information that must be reported includes the type of cryptocurrency, the amount bought or sold, the dates of transactions, the purchase price, the sale price, and the resulting gains or losses.
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