📝 Description
If you haven't completed any taxable transactions (crypto-to-fiat exchanges or purchases of goods/services), you're not required to declare capital gains. However, Waltio remains useful for reporting your digital accounts on Form 3916-bis, justifying compliance in case of tax audit, and maintaining organized tracking of your portfolio.
Thus, the use of Waltio is limited. However, Waltio can be useful for three reasons.
To access the information to declare your digital asset accounts held abroad through the 3916-bis form.
In case of a tax audit, the documents provided by Waltio will allow you to justify your compliance with the law.
Last but not least, the tax system requires you to carefully monitor each transaction. Indeed, cryptocurrency operations are becoming more and more complex and taking back operations over several years is often a source of complexity. So using Waltio annually, will allow you to track your portfolio and be "up to date in your crypto accounting".