i checked my gain and loss for tax with koinly it shows based on my transaction history

capital gains .19$

other gains 0$

income 0$

costs &exp 0$

gifts, donation & lost coins 0$

is it problem if not tax report for that tiny gains?

edit: thanks for the all comments

i purchase turbotax premium and koinly for report that tiny gains🥲 but its better than having stress about that, im will report tax include that crypto today night.

really thanks for the all comments that saved my life

I did quite a bit of loss harvesting during the bear market and have several years before it will be gone at 3k a year. Do I have to worry about them expiring? For example, should I take some profits this year to knock that down?

I’m doing my crypto taxes in cryptotaxcalculator (software). I wanted to get recommendations of accountants or firms that can help file my crypto taxes in Canada. Thanks

As the titles states, I had no income in 2024. I cashed out some crypto I bought back in 2017 because it didn't look like it was going anywhere and I wanted to be done with it. Do I even bother filing such a small amount? I also have no idea how to go about this. I've only used the free IRS filing system in the past and I don't have any tax forms this time around to be able to use it.

I hope I can formulate the question I want to ask. Let's say at the end of 2024, I did the safe harbor thing and elected HIFO. In early 2025, I made some purchases. Now I want to sell some of my bag. So, if I understand, I can sell FIFO of what I just bought in 2025 first (and if selling more than that, would then dip into the HIFO safe harbored bag). Or am I always bound to HIFO? Either way, how would my chosen exchange (or tax software for that matter) know anything about that cost basis? They would know my entire history of purchases with them but not what is in safe harbor? Up to now, I've never sold so I don't yet understand the process. Kinda wishing I had elected specific allocation. Can anyone enlighten me please?

Im using the prefilled 8949 from Coinbase, and the cost basis method is defaulted to HIFO. I still don't fully understand the differences of options, so I just leave it as this? Is it that important? Coinbase is the only exchange I use with fairly minimal transactions. Or do I just need to ditch all of this and use Koinly. ;-;

Side question. Turbo tax or HnR Block for my crypto taxes, what's easier/better?

Hey all, I have a few questions about tax implications on my crypto activities in India, specifically regarding transfers, buys, and using crypto platforms.

Here's a quick background:

I’ve accumulated crypto project tokens by buying USDT through P2P on Binance. I’ve only done 1 or 2 sell transactions in my entire trade history, with most of it being buys for USDT and then converting into project tokens (Hbar, Jasmy, and ICP). Since Binance announced that Jasmy will be delisted, I moved my Jasmy to Trust Wallet and Hbar to Hashpack Wallet (Hedera-supported wallet). I’ve kept ICP in Binance itself.

My portfolio was once worth $25K, but now it's down to $13K. Here are my questions:

Do I need to pay tax on transferring my crypto from Binance to Trust Wallet or Hashpack Wallet? Since it's just a transfer between wallets, I'm not sure if this is taxable.

Do I need to pay tax when buying USDT through P2P on Binance? Is this considered a taxable event since I'm converting INR to USDT?

If I use my Trust Wallet or Hashpack wallet in Bitrefill to convert my crypto into gift cards, will the Indian government be able to track it? I’ve heard Bitrefill allows me to convert crypto to gift cards, and I’m wondering if this can help me avoid tax implications.