Daily #cryptocurrency income report, 2023-02-28: -$64.17*
Because I traded both $KUJI and $ATOM yesterday, their #ACB ('average cost basis') dragged my income into the red.
I 'lost' money, making money.
*does not include auto-restaked yields nor s- nor x-token gains
Analysis
It is important to note: I don't trade to lose money. I trade, I make money, and the #ACB tells the tax-man I lost ... on 'average.'
You see in the final two trades, I GAINED a net 2.2 $KUJI for an ROI of 2.01%. But what does #ACB say my gain or loss was?
#ACB says that, since I sold $KUJI at an average LOSS, my net LOSS was $37 on those two trades.
This, folks, is th 'magic' of accounting.
Let me reiterate:
I GAINED 2.2 $KUJI in those two trades, but #ACB says I LOST $37-worth of assets in trading-at-a-loss.
You WANT to minimize taxable profits in trade while you BUIDL.
#ACB requires you track your portfolio's value from day 1. Worth it? Yes.
This is the way.
