Crypto Taxes in Canada EXPLAINED!

[@BrieKirbyson]

It's a good idea to plan out your taxes at end of year, especially with crypto, just to make sure you have enough in cash to cover the taxes you owe. Have you taken gains this year or are you hodling?

[@danielleclair1360]

Im a HODL'r and TBH I got mostly lossages across the board thanks to this bear market. Should I still claim this stuff or just do the regular tax stuff and keep the crypto in the dark?

[@brendenhull1290]

I'm curious as to this answer as well

[@TheFenceBuddy]

Oh here’s another question. How about if you bought and sold at a loss, can you count that as losses to pay less tax?

[@TarekJoe-sc3gd]

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024

[@KelvinBerlin]

Wow that's huge, how do you make that much monthly?

[@ThomasJeffersonEdison]

I am 65 and have been looking for ways to be successful, please how??

[@TarekJoe-sc3gd]

Woah for real? I'm super excited. Sonia christen strategy has normalized winning trades for me also. and it's a huge milestone for me looking back to how it all started

[@TarekJoe-sc3gd]

She's on telegrams mostly, using the user name.

[@TarekJoe-sc3gd]

@SONIA032...That's it💯

[@RoderickKuhlman57]

Crypto is risky as many would say but I think the actual risk in Crypto is not investing, buying the capitulation isn't a tough call, but it is a very tough call to figure out what to do aside holding. I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time

[@AlexieAuer]

I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?

[@RoderickKuhlman57]

As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Mathew . A widely known crypto consultant

[@WilburnGibson4]

I'm surprised that this name is being mentioned here, I stumbled upon one of his clients testimonies on CNBC news last week...

[@CheyanneSmitham]

I started working with Alex Mathew back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.

[@AlexieAuer]

So how can I get in touch with Alex Mathew anyone?

[@johnmichael1563]

PLEASE SOMEONE SHOULD HELP HERE. I LOST OVER $5000 ON LIVE TRADE. I THOUGHT LIVE TRADE IS THE SAME WITH DEMO TRADE BECAUSE I WAS WINNING WITH MY DEMO ACCOUNT. THIS IS QUITE ANNOYING, WHAT SHOULD I DO PLEASE 🙄🙄

[@harleyme3163]

dont trade it.. there's no money in it,,, Mine it

[@Creations18]

If I am not mistaken, this falls under the business tax. I think you might be able to put it under capital loss.

[@MrRainbow-of2ok]

Time difference, safe to buy bit or eth cuz they will eventually go up but other coin, nah, you just need patience men, don’t do trade as ur main source of income if ur not a professional

[@generackley8023]

Hey guys, I don't know anything about investment or crypto , and I'm looking forward to invest, any help? Or who can I reach out to?

[@johnowen4901]

KZbin has been of great help to many facing challenges of making best decisions on what to invest in, but it's not enough because most people don't understand what they watch. Many need professional aid that offers best plans to better create wealth.

[@harsithanand4686]

Please how can I reach this Expert Maureen everyone is talking about?

[@udhehsusj4902]

buy pepe on ethereum, brett on basechain and bobo on ethereum.

[@harrisandre1581]

I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?

[@ellarobinson2325]

Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong

[@violetholmes1298]

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

[@josephinemanayan4911]

>>>I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Karen Charles

[@jocelynbacunawa4740]

​@@josephinemanayan4911 Wow I'm just shock you mentioned and recommended Expert Mrs Karen Charles,I thought I'm the only trading with her

[@solomonslater6579]

​@@jocelynbacunawa4740 You don't need to be shock because I'm also a huge beneficiary of expert Mrs Karen

[@SophiaWashington462]

What is the best strategy to enter crypto trading now for someone with more or less than $9000

[@nhanisco1452]

You need a pro or very goodTrader. Someone like Jared Brian Watkins

[@EmmaRodriguez-nf7vq]

Jared excels at capitalizing on economic shifts and I have confidence in his trades

[@JordanTran850]

Almost gave up due to constant losses, but Jared turned my luck around

[@JordanTran850]

roughly 12k now comes in per week

[@SophiaWashington462]

How can I reachhim

[@yahtowapi8279]

DO YOU KNOW THAT CRYPTO CURRENCY/ FOREX TRADING IS A BIG CHANCE TO MAKE MONEY NOWADAYS, IF YOU CANT SER DAT AT THUS POINT, ITS TIME TO LEARN MORE ABOUT IT.

[@yahtowapi8279]

I do see it that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.

[@utahtadi4079]

Do you know that most times having knowledge or insight about a particular activity can as well be a pleasing

[@utahtadi4079]

most people today have been having a. lot of failures in forex and crypto because experts.

[@masichuviojacy6756]

Brilliant !!!, I like you for that.

[@masichuviojacy6756]

Crypto currency investment has been the highest currency for trading , I have been trading yet am still having looses. Please can someone recommend a good broker for me, I really need an assistance.

[@DiscoDaddo]

Well Done presentation. Very clear and we'll spoken and to the point. Thank-you.... very much appreciated 👍

[@RasfordGabriel]

I've been looking into cryptocurrency investments, but I'm still unsure about the best and safest way to go about it. Any advice or insights you could share?

[@AlphonsoSmith-e6q]

Talking to an expert like Maren Hilda Authurs to reshape your portfolio is a very smart move.

[@RasfordGabriel]

Who's she please I really want to know more about the service she offers @@AlphonsoSmith-e6q

[@AlphonsoSmith-e6q]

Maren Hilda Authurs is a highly sought out advisor who I found on a CNBC interview where she was featured, she understands the job perfectly. I recommend her

[@SteveRosen-n5b]

Wow am so surprise you mentioned her name here, she is actually the one that guides me. I think the wisest thing that should be on every individual's list is to invest in different stream of income. I'm earning more this year because I have been investing while working at the same time.

[@ThomasJClark-w4z]

I do see it that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.

[@Omar-sn3hm]

That's awesome!!! I know nothing about investment and I'm keen on getting started. What are your strategies?

[@garethzain4337]

As a beginner investor, it's essential for you to have a mentor to keep you accountable 🤷. Myself I'm guided by Mrs Melisa Mae , a widely known crypto consultant 💪

[@christalharvat5319]

No doubts! The strategies and Al auto trading tools she provides for beginners are very helpful, being part of her vip signal channel has really helped me as a stock holder

[@geraldfrances1818]

I've really heard a lot about Mrs Melisa Mae ! How do i connect with her?

[@walkernathan4913]

after watching so many KZbin tutorial videos about trading was still making losses until Mrs. Melisa Mae started managing my investments now make $10,567 weekly. God bless Mrs Melisa , she has been a blessing to my family.

[@jonaskakaroto8745]

Investing with expert mrs Melisa Mae has been one of the best step I've ever took in life, may God bless the day i met her.

[@ulysseperez4606]

Bonjour Brie, I’m from YUL :) Great content and helpful tips about the tax issue, will be a new member for watching new more contents. Merci :)

[@user-hq6mk6ng7v]

🔥🔥🔥⬆️⬆️For CRYPTO profitable investment

[@AbdulAlhazred-l2l]

Set up an offshore trust, then create a holding company under the trust. That company runs your crypto business. Unless you receive income from that holding company, you pay 0 tax.

[@Anthony-nw7xp]

Well done Brie👏👏👏. Got so much use from this amazing content. Thank u.💜

[@stephaniekovich6070]

thank you for a very clear and easy to follow explanation!

[@BrieKirbyson]

Glad it was helpful!

[@TheRealBatCave]

​@BrieKirbyson the bots in here Jesus.....

[@tanglegripper1hairdetangle706]

Thanks for this sunshine!

[@capucinepichon8242]

Success is a mindset. Without a successful mindset, you will never be successful. It's crazy how powerful the human attitude is. We have the power to change and shape our entire reality, but a lot of us don't even know it. A lot of us think that we can't control what happens to us and that we can't do anything about the situation we're in. But this is so untrue. So many people have the potential to be so much more and they don't even know it.

[@kathiconnor6467]

Agreed👍💯

[@danutaz.mazurek9246]

I trade as a side hustle while keeping my job. I'm tired of trading in losses myself. I've blown my account twice and it's frustrating. I see people making a living out of trading and I want to do the same. Please I need help can someone teach me how to trade?

[@g-tom1986]

the market is profiting if you are using a good broker or account manager to help out with trades or provide signals

[@Deniel554]

I'll recommend Expert Mrs. Pamela Weaver to you. She's the best I've seen. She trades my fx account and makes me good profits 📈weekly

[@Marine40]

So you guys know her too?... Wow, she made me have my own house and car. She is awesome✨⭐

[@dulcehahn12]

Excellent analysis, I am from United States 🇺🇸 and I must say that you inspire me because I started investing in cryptocurrencies and trading as a scared investor who does not want to lose money. I am happy to say that I am now very profitable and I have never seen an analysis as well structured as yours. I have a total of $534 thousand dollars, with my $50 thousand I am very grateful for all the knowledge and information that you have given me. Thank you Richard Dennis

[@AdelaSchuppe-d5p]

That sounds great, but isn't it risky to invest in cryptos at this time as a noob? What do you advice please. I'd be happy to get a feedback

[@LewKrajcik-p2s]

How can one start,most times people don't know where to start when it comes to crypto. But it would be great if you can provide proper guidance on steps to follow please

[@dulcehahn12]

As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Richard Dennis is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@IsaacClark-j7h]

Wow. I'm a bit perplexed seeing Richard Dennis been mentioned here also Didn’t know he has been good to so many people too this is wonderful, I'm in my fifth trade with him and it has been super.

[@AdelaSchuppe-d5p]

So how can I get in touch with Richard Dennis anyone?

[@masiborgia]

New Subscriber - thank you for the information

[@lesf5792]

Hi Bri, This is so informative. Created by a Canadian for Canadians. I have some crypto that was gifted to me. It’s on a hardware wallet (Ledger). Do I need to move it to an exchange in order to use one of the tax calculation platforms you outlined? Thanks again. New Subscriber!! 🇨🇦

[@CarmenBogisich-w7j]

I enjoy your vlogs as always.Could you possibly provide a separate video about Step Finance and Solana? This is my favorite platform.

[@mattlanmedia3452]

Thanks great info Thank you for it.. What is the standard delineation point for day trader vs buy and hold? Thanks again very helpful

[@phyllis2866]

this was super helpful, thank you brie! subbed!!!! :D :D

[@KeanJones-w9j]

Hi everyone! I'm new to Bitcoin trading and have watched numerous videos and tried various strategies, but I haven't had any success. Can anyone recommend a reliable expert who can trade on my behalf and help me earn profits?

[@Walker-u2z]

"The reality is that numerous individuals face frustration in forex and crypto trading due to unreliable advice and ineffective specialists."

[@Sophia-un2tv]

"If you’re looking for a reliable trader, I’d suggest Mrs. Carolyne Norris. She’s been handling my account with fantastic weekly results."

[@Mia-e1d]

"You guys know her too? She worked wonders for my husband and me-we now have our own house and car. She’s outstanding!"

[@TonyChris-k3v]

"Her strategies are exceptional, and she’s been trading for me as well. She’s helped me see binary and forex trading in a new light, with consistent weekly profits."

[@LoveChris-x6z]

"What truly sets Carolyne Norris apart is her grounded nature. Unlike other brokers who set impossible targets, like making $50,000 from a $500 investment, she’s honest. She’ll tell you she can realistically make $3,000 from that investment, and she actually does it. She also exudes a strong sense of integrity."

[@eic9351]

Thank you for this!

[@albertbruce2169]

For a few months now I have been searching tirelessly for information on how to start investing. I even payed $1000 for a course that I now regret. It appears that there is no structured guidiance for beginners on how to get started in this realm. I've come across several investors making well over $250k/annum and would be grateful if anyone on here could provide insights on how to get started, identify potential stocks, when to make an entry, exit etc.

[@minnyf701]

Keep it simple in the beginning. Buy something, like an index fund, and hold. Educate yourself in the meantime and elevate your risk tolerance over time.

[@blessingngozi9205]

@@minnyf701 In order to make profits from trading you need loads of experience and a well defined strategy, which most traders don't have. If you trade without the proper preparation, you're most likely to lose your money. Identify the buy/sell ratios and identify the market leaders and most importantly.

[@mosesdanlami2617]

report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to

[@hauwagabriel7799]

@@mosesdanlami2617 People believe their currency has the worth it does because they have no other option. Even in a hyper-inflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@martinlesley3962]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

[@darylshanks3150]

Hreat video Brie, thank you. Can you claim losses against any possible gains?

[@Jarrod2323]

Yes, you can. You can carry losses forward as well.

[@dbjmk8083]

You should only have to pay taxes when you turn the crypto into cash or use it as money (purchase something).

[@Jesse-tw2gq]

Its honestly thievery.

[@andrewl.1273]

It’s probably because before people would trade it for a stable coin and avoid the tax. I agree, it’s bs. It’s like trading an apple for an orange.. “oh well then, I’m going to tax you for that swap…”. Like dude, I already paid gas fees and exchange fees.. but oh no.. you dinks want ur pound as well. Legalized mafia is what it is.

[@vd6520]

Thanks! very clear!

[@ikust007]

New subscriber. You explain well. New video about taxes please .

[@jesus7357]

Appreciate the video!

[@mikelmiles]

This has been a big help.

[@whatsup6264]

HelpliNe for more insight🖕

[@donaldkelk]

It's has been so difficult for me trading on my own because i have had much losses.Think the real market is manipulated, please can anyone help me out or tell me what I'm doing wrong.

[@taylorbush5901]

She trades for me too. My first investment with mrs Kathleen gave me profit over $25,576 and ever since then I trade with her and it has been a good turn up

[@amandaeaton9645]

Since i started investing money on crypto currency under Mrs Kathleen's management i invested $5000 and profits is $19,700 every 11 days and i never lost my money on crypto.

[@JeanneCalvey]

Mam Kathleen made a transformations from my investment of $4000 to $12,400 in Just 2 weeks, I'm so excited 😊😊

[@Judynowakowski]

But seriously, I think crypto trading platforms really need some talented experts like mam Kathleen for copy trading purposes🤔

[@RosarioMarceau]

2 months ago i was a complete nobody but here i am making money from future trade by using Mrs Kathleen’s signal😎

[@BrittPrice]

Hello thank you for making the video. Do you have any off ramp tips for Canadians?

[@susegeissler998]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Veronica Hoy.

[@LoganSanchez-yi8hh]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

[@HelenM-fk1ro]

She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.

[@VivianLian-sm5uo]

The first time we had tried, we invested $1400 and after a week we received $5,230. That really helped us a lot to pay our bills.

[@NoraBrown-qx9dr]

You trade with Veronica Hoy too? Wow that woman has been a blessing to me and my family.

[@OtumbaCollins]

I'm new at this, please how can I reach her?

[@adampottie1109]

Hey Brie great video thanks for it! What do you know about taxing Crypto Nodes?

[@BrieKirbyson]

Not sure, but I think anything you earn from mining counts as income? I'm definitely not an expert on that tho

[@NetKnowHow1]

Hi Brie, I just saw your channel and subed. What about DEFI and taxes? Will this software be able to track these profits and losses?

[@lookingforwardto]

pls discuss on crypto investment options. thanks

[@brandaandrew3518]

Money is an issue that everyone has for a better and luxurious life, Life was hard for me until I started trading bitcoin and am now earning $18,435 per week

[@sukuratajibade3748]

same here I earn huge weekly profits of $16,443 on my Investment since i started trading with Mrs Miriam S. Klein, her trading strategies are top-notch

[@godwinzabe6689]

wow I'm just shock someone mentioned and recommended expert Mrs Miriam S. Klein

[@godwinzabe6689]

Bitcoin is on its way to the moon, it's time we join the Bitcoin community.

[@godwinzabe6689]

I thought people don't know her

[@jamesnicole8441]

You don't need to be surprised because I'm also a huge beneficiary of expert Mrs Miriam S. Klein trading service

[@synos0202]

what about staking rewards.

[@user-hq6mk6ng7v]

🔥🔥🔥⬆️⬆️For CRYPTO profitable investment

[@rowanlironi6656]

Counts as yield

[@arabmoney830]

*EVERY FAMILY HAS THAT ONE PERSON WHO WILL BREAK THE FAMILY FINANCIAL STRUGGLE I HOPE I BECOME THE ONE ☺️... IN A FEW WEEKS I WAS ABLE TO PAY OFF MY DEBTS THROUGH INVESTING IN CRYPTO TRADING*

[@muhammadzikri1360]

*Assets that can make you rich Crypto Stocks Real estate*

[@muhammadzikri1360]

it's obvious. a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to stay poor

[@tebogo3739]

The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed. Because I have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial market.

[@florencesteve6119]

Wow buddy, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading.

[@youngel8820]

Anyways not actually, what I know about trading almost on zilch lol. I make huge profits on my investment since I started trading with an Expert her trading strategies are top notch coupled with the little commission she charges on her trade.

[@1Akanan1]

With that conversion fees and ''taxable event'' thingy, it seems pretty annoying to use USDC/USDT to trade then... Now... Is there a disadvantage to trade crypto for (fiat)CAD on Newton? I'm thinking to use that platform now seeing all the problems i'm getting with 2021 taxes. If i trade (speculation) in and out, is it better to just sell for (fiat)CAD? If not, what is the best way to do it to avoid a huge conversion mess.

[@user-hq6mk6ng7v]

🔥🔥🔥⬆️⬆️For CRYPTO profitable investment

[@vd6520]

Can you pay your taxes using crypto? If so, is it considered an "event"? Will it be considered for current or future tax reports?

[@harleyme3163]

good question, if you look at it once you exchange it its money, not crypto and you have to pay the tax on that now to so...not a good idea

[@williamsjohn4746]

I'm new to cryptocurrency and I don't understand how it really works. Please can someone guild me on the right approach to investing and making profit from bitcoin trading.

[@smithmichael3591]

That's true. Its really needful for beginners not to settle for videos alone or they will see themselves losing all their money just like me when I newly started trading with this videos here on KZbin

[@williamsjohn4746]

Please how can I reach her. I'm a newbie and know nothing about crypto investment.

[@williamsjohn4746]

Thanks a lot for the recommendation guys and I'm looking forward to earning from my first investment with her

[@Novmacar]

Koinly is awesome! 🙂

[@Stu_Pedasso]

What about losses?

[@elre5929]

What if you use many different broker/exchanges ? Like buying on Buitbuy , transfering and selling on shakepay , I used 6-7 different ones but stay in USDC-USDT most of the time, is it taxable if you never cash out in CAD ? Who would know anyway when it is all done on pesonal wallet through decentralized exchange. It should only be taxed when cashed out in CAD through a canadian bank.

[@shakester2010]

Awesome! Thank you! :)

[@aomanchan6456]

You know you could work for 40 years to have $1M in your retirement, meanwhile some people are putting thousand of in investment now they are multimillionaires.

[@zunguxaba4112]

I'm new to this crypto and forex trading and I've been making huge loses trading on my own but recently I see alot of people earning from it. can someone please give me a new strategy or at least tell me what I'm doing wrong.

[@clarksmith3017]

How long does it take to learn and make money after you get going? I might like to try it out in the future.

[@marciafernanda2113]

Investing in stock and crypto is a good idea, a good trading system would put you through many days of success.

[@misu6452]

Having monitored my portfolio performance which has made a jaw dropping $200k from just the past two quarters alone, I have learned why experience trader's make more success in the market.

[@wendysophia6312]

@@misu6452 Interesting, that's alot of profit you got there...and I have a lump sum doing absolutely nothing in my bank account, I wanna get something started with it, you seem to be doing excellent for yourself, how do you achieve this?

[@kelvinerickson6747]

Thanks for the video, great discussion. One concern I have is sharing my wallet addresses etc with anyone, should I be concerned about sharing this information with Koinly?

[@Titanium184]

Great video

[@crypt0caveman14]

hello please let me know is selling ur crypto for gold like pax gold or physical god a a taxable event in canada ? thanks

[@ikust007]

Taxable naturally

[@lucboileauhome1072]

Really enjoyed your Canadian crypto tax on yt thanks. Finally found place to comment and ask questions. Are charges from koinly for doing tax calculation tax deductable as and expenses or fees for transfer sales and big you did not get into. Thanks in advance for all your help. Luc

[@Drilldownsnipe]

Hi Brie, my accountant wants to know the country of origin for all my cryptos. I cant confirm where they reside from. Any help from you?

[@danmanr]

Is it calculated using 1ts in and 1st out sort of way? Meaning, how does it know which portion of your wallet you're selling. A coin purchased 3 years ago would likely be cheaper than a coin purchased today, and if I sell tomorrow the gains are larger on the older coins. How does it keep track at that micro level?

[@atulaggarwal8060]

Hi I have question, in schedule 3 where to report crypto gain and loss out of 8 catagories given.

[@normguindon9919]

Thank you, but how about our lost 😠 with stokes i lost a lot with AMC ???

[@JR-hh8js]

Do yo report your trades to the cra ? And when ? Do they tell you how much you owe ? Sorry I’m a noob

[@sir_dovaz]

Hi beauty!! Why gifting should be taxed? Do you know something about crypto derivatives? Futures are financial contracts and should not be taxed the same as spot markets, I think. What if you just want to buy a stake in stablecoin (not as an investment) and use it to help and send it to family and friends overseas instead?! Thanks for sharing your knowledge. Peace!!

[@NorthernFZ6]

Is there an option for claiming Crypto theft from an online hack? I'm not finding very much info on this. If so, which section on the tax form? Thanks.

[@GeorgeWassouf66]

what if you loose money on Crypto, like high amount 6 figure. how does this get reported to CRA and would there be credit on the loss ?

[@brutustheoldeenglishbulldo8672]

You’d think it would work like a cash account that holds stocks but losses in crypto probably aren’t tax deductible 😂

[@WilliamusTrades]

Hey Brie, thanks for making this video. You mentioned that crypto gains/losses can either fall under business income/loss, or capital gain/loss, and that Koinly will generate a Schedule 3 for capital gains. Is this Schedule 3 the same form that we would we use for TurboTax if someone has been day trading (and therefore considered "business income" instead of "capital gains")? If you've covered this in another video then please let me know. Otherwise... this looks like the prelude to a sequel for this video! lol thanks again

[@BrieKirbyson]

I'm not sure. Probably best to consult a cpa on that!

[@johnnyfive5203]

Trying to use Koinly for extensive defi is still brutal...but slightly better

[@rexxx927]

Hello Brie if i use a bot trader in Canada are those trades taxed which would make bot trading shorts a bad idea?? or is that an exchange?(not taxed??)

[@Jarrod2323]

But do I want the Canadian cra to know that im buying a crypto that may not be available for purchase through a Canadian exchange? What are the implications?

[@Rashomon69]

This tax nightmare is one of the reasons I’m just holding. This is ridiculous. Also, taxing gains at 40% or so should be criminal.

[@raghu7151]

hi brie i think the affiliate link for koinly isnt right or broke..usually see affiliates name and offer on the landing page but its going to the regular page..could be an issue or just my mistake

[@BrieKirbyson]

Thanks for the heads up! I'll look into it

[@amgdrifta]

In your video at the time of filming the website shows a column for marigal tax rate specifically for capital gains as 21.7%, why are you using 43.41% instead for the 10000k?

[@sharethelove9316]

What would you do if you wanted to let's say buy land with cryptos You would send to binance and exchange it for tether and then to bank account . And declare it on taxes return ? OR from a.BTC ATM at 5 percent or more. (I guess i have to declare it on my taxes return ,?) And then send it to you bank account and pay the land with that ?

[@iarcharz6000]

anyway to track nft gains through metamask?

[@BrieKirbyson]

Not that I'm aware of unfortunately

[@synthdude7664]

What if you’ve lost a lot of money ? Is it considered a capital loss?

[@ceshockey6]

government loves to issue when you win how much you owe, but great question, how are they determining loses?

[@danielcooper5698]

Can you show us where these rules are written in the Canadian tax code?

[@yvonnadeau2331]

mining and never touched anything. hodled everything. What then? Canada any Q, just ask plz. Thx

[@xxChacaronXX]

If I lost money overall but made money on some coins I don't have to do any taxes right?

[@ronwiebe4816]

If I have some capital looses will I be able to offset them with my Crypto gains

[@totalhaunted]

so my question would be. i buy lets say $10000 in alt coins and hold for a year and i take $10000 and and day trade. Are they both taxed separately? one would be taxed capital gains and the other business or because i traded now its all business?

[@TheMars1010]

What about when you buy NFT? Is it a taxable event?

[@BrieKirbyson]

Yep, that's a taxable event

[@ohri5931]

@@BrieKirbyson question- you get taxed on selling ETH to acquire the NFT BUT if I dont sold NFT u still get taxed?

[@countdefi]

@@ohri5931 you will be taxed on "selling" the ETH in order to buy the NFT, however you will not be taxed on the NFT until you trade it or sell it.

[@mattgasienica2938]

If I use defi applications/protocol within phantom wallet as an example, will all that information be available once I link it with koinly?

[@donc3606]

make sure you check out what chains they are compatible with, these software is not a one stop shop. For example they are not compatible with KCC so it will not display any transactions from KCC

[@oddball6969]

If i put 50k in crypto do a bunch of trades and cash out 40k there is no profits ye so i dont pay taxes yet...correct?

[@brutustheoldeenglishbulldo8672]

If you put in 50$k and grow it too 150$ you’ve made 100$k profit. If you now withdraw 40$k you’re taxed on that 40$k. If you put in 50$k and loose some and withdraw the remaining 40$k you’re likely to not get taxed because you’ve sold at a loss rather than a taxable gain.

[@oddball6969]

@@brutustheoldeenglishbulldo8672the remainder could go to 100k in profits and back down to 50k before tax season is even over ...thats paying tax on unrealized gains though...and paying tax on my initial investment?

[@maldine12345]

What if you mine bitcoin ? How would that be taxed for a corporation?

[@TruthSlayer11]

please do 2 videos... first.. BUYING xdc in Canada and where to store it as ledger doesnt support it... second how to stake xrp, xlm and xdc in Canada

[@shaynem12]

no one says where in the tax forms you file.... this is so annoying. when turbo tax asked me if i had made money in crypto i said "yes" and they never asked how much.... I WANT TO PAY MY TAXES but no one has the next step as to where exactly and what form you need

[@BrieKirbyson]

You'll need to attaching a Schedule 3 capital gains form

[@camieshapavlovic4111]

What happens if you sold it at a loss?

[@BrieKirbyson]

Then it would be a capital loss, which can be used to offset your taxable income :)

[@camieshapavlovic4111]

@@BrieKirbyson So still need to input the loss as a negative in the tax system?

[@boicutt]

So they want a cut of the risk I take with my money - do they also assume my losses as a tax deduction?

[@allanderenowsky8970]

Is it possible to put Crypto in a TFSA

[@mbraucht]

Imagine having sold your crypto at ATH... two years ago!!! Ok, good advice.

[@alphabrakovo9122]

You should make a video on how to avoid paying the CRA taxes on our hard earned gains. They're sending all our money to Ukraine and Philippines, so it's not like they're injecting back into our economy.

[@mikem6611]

Are the two softwares not free ?

[@franciscocordova5472]

Excellent video, very helpful. Thank you.

[@BrieKirbyson]

Glad it was helpful!

[@cherieharbour9122]

How do I find the codes? 🐞

[@user-hq6mk6ng7v]

🔥🔥🔥⬆️⬆️For CRYPTO profitable investment

[@theresagrace7023]

BTC for $75K by end of this year& Control of The Currency is already Decentralised And now the China disruption would simply Decentralise the Mining setup for the better

[@chrisfraser1806]

This video was all great and dandy when you are making profits and the CRA wants their share - what about if you lose a ton of money can you claim depreciation on your crypto and use that against your gross income to pay less taxes on say your 9-5 grind.

[@TruthSlayer11]

Great channel.. How does a B.C resident or Canadian in general buy XDC

[@cakeismtrader4227]

Awesome thanks

[@mrvh1953]

Don't forget that the 50% of your Capital Gains is ADDED to your Taxable Income so that will most likely increase your marginal tax rate. For instance if your taxable income was $75,000 and 50% of your Capital Gains was $50,000, your marginal tax rate will be based on a Taxable Income of $125,000, NOT $75,000.

[@shawnbergman8674]

Is it normal to be taxed on a crypto trading platform in advance prior to releasing you gains? I know with stocks they will withhold from your gain and release immediately.

[@coreyboone7769]

I thought about trying Bitcoin loophole it says you can put down a minimum payment off 250& when you sign up Then it automatically generates everything for you so say if I sign up invest money and the program starts doing its thing a week later i check my account I made 1000$ I decide I want to put that money into my bank account do I have to pay taxes on that or claim it? I live in Ontario Canada

[@abdulamankwah2114]

If you connect your wallet is that safe ?

[@kuldipchavda3918]

Which Broker is legal and giving good leverage for crypto trading in canada?🇨🇦

[@SOULSIGHT14]

Thank you !