Overview
If you bought or sold crypto in the past tax year, you might need to report any income you earned. Just like trading stocks, any activity that results in gains, like buying and selling coins, could be considered income.
Preparing your tax return
To help you prepare your tax return, we offer a document called Realized Gains and Losses. This document breaks down your adjusted book costs and your proceeds of disposition to help you report numbers on your income tax.
We also offer a CSV document called Crypto Transaction Summary that is available to you for your records.
Since there isn't an official tax slip for crypto, make sure to double-check these numbers before filing or visiting your tax professional.
Get your crypto gains and losses report
Follow the steps below to get your Realized Gains and Losses report:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Profile icon in the top right corner
- Tap Settings (the gear icon) in the top right corner
- Select the Accounts menu item
- Choose your Crypto account
- Scroll down and tap Tax Documents
- Log in to your Wealthsimple account
- Select the Profile icon in the top right corner
- Choose Documents from the menu
- Under Filters, open the Account menu and select your Crypto account
- Open the Document type menu and select Crypto Realized Gain Loss Report
- View your report
Legal disclaimer
A note from the legal team: This article is provided for informational purposes only. It doesn't cover every aspect of the topic it addresses. The content is not intended to be tax, investment advice, legal or any other kind of professional advice. Before taking any action based on this information, you should consult a tax professional. This will ensure that your individual circumstances have been considered properly and that any action you take is based on the latest available information.
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