does anyone know if we could use the gas fees (of moving coins from my hardware wallet to an exchange before selling my crypto for stablecoins or fiat) as part of the “cost” of selling my crypto and deduct those fees from my gains (tax purposes)? thanx

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does anyone know if we could use the gas fees (of moving coins from my hardware wallet to an exchange before selling my crypto for stablecoins or fiat) as part of the “cost” of selling my crypto and deduct those fees from my gains (tax purposes)? thanx

what i mean is that for example lets say i move 10000 MATIC from my hardaware wallet to binance (to sell them) then there is gonna 0.001 ETH in gas fees. Can I use this gas fees to reduce my capital gains? My guess is yes, after all these gas fees are costs I have to incur in order to actually materialize my gains (the difference between the value of each MATIC token when i first bought them compared to the higher value that I am selling now). I am reviewing all my transactions and i am gonna track the movements (with the fees in tokens incurred per move) from my ledger/trezos to CEX if we can use them as cost-expenses. I am a noob (been doing crypto for only 5 months now) so hopefully this is not a terrible question.

submitted by /u/swindle8686
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