Hello 👋
How do you label your trades from crypto Forex trading robots?
Waltio allows you to easily declare your cryptocurrencies by calculating your realised capital gains or losses and therefore deduct your tax amount.
💡 Some types of trading robots allow you to trade Forex using cryptos. Waltio does not take care of tax related to Forex, but we can take care of crypto transactions related to your Forex gains.
Here's a simple example:
You deposit EUR 3,000 on Binance, which you then exchange for USD 3,000.
You withdraw these 3,000 USDT from Binance in order to deposit them on a Forex trading robot.
--> The withdrawal transaction should be labelled "Other withdrawal" on Waltio and a deposit transaction should be created if it is not present.
You generate a profit of USD1,000 using the robot.
--> you will need to create a deposit transaction to be labelled as "Other gain" on Waltio if this gain is not present.
You withdraw USDT 4,000 from your robot and deposit it on Binance.
--> the deposit transaction should be labelled "Other profit" on Waltio.
If you have any further questions, please don't hesitate to contact us via the chat at the bottom right of your screen! 💬
The Waltio team