Bitcoin valued 300% in 2020, how to prepare for the 2021 income tax?

It is never too much to remember that STATEMENT is not synonymous with PAYING tax.

Another year has gone by, a year of high, a year of many achievements, we have broken barriers, we have grown a lot, but also a year marked by a pandemic, social distancing, our, a year of everything a little. We, the survivors of the online world, are here, firm and strong!

So let’s leave this year behind, let’s move on?
Come with me and do this Checklist for IRPF2021 ok?

The most important data of all is your BALANCE CONTROL of crypto on December 31st (in quantity, both in currencies and in reais). It’s worth remembering that the cost of your cryptomotes is not based on the quotation of the last day of the year, but based on the cost of acquiring the assets.

This information will be used not only in your declaration of assets Bitcoin Billionaire review and rights, but also in the declaration foreseen in IN 1.888, in the next delivery, which will take place at the end of January.

I also recommend that you issue YEARLY EXTRACTS of any exchanges you have transacted with.

If you trade, separate TRADITIONAL FILES, deposits and withdrawals, complete. It can be in csv or pdf format, it can be a simple print, whatever. It does not matter. But it does!

Also, try to make prints of proof of any transactions made outside of exchange. Save copies of deposits and withdrawals to any addresses you have sent or withdrawn from.

Did you do monthly checks at GCAP? Keep your files stored for import on IRPF2020.

Did you make a profit? Did you pay tax? Keep your receipts in order too.

Did you have an increase in assets? Remember to have information proving the origin.

Some will ask: but I don’t have any of these; what do I do? Gather as much information as possible and let’s get your puzzle together as soon as possible!

It is never too much to remember that DECLARING is not synonymous with PAYING tax. You only pay tax if you have PROFIT on the disposals whose sum in the same month (of the disposals) is more than 35k. Who alienates in a sum less than this limit, even if it has profit, is EXEMPT from taxation.

Anyone who simply buys to „holdar“ will not pay any tax on that transaction. Still, they will have to declare, on account of it being an asset that must be reported to the IRS. Accumulating currencies does not generate an obligation to pay tax! But it does not exempt you from declaring!

So, be organized, avoid running, have a good party and have a 2021 without a headache with the Lion!

Happy 2021!!!

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