Cryptocurrency Q&A
Is converting crypto taxable in Canada?
Is converting crypto taxable in Canada?
CryptoWanderer
Mon Feb 10 2025
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6
answers
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I am a Canadian and recently converted some of my cryptocurrency. I am wondering if converting crypto is taxable in Canada. I would like to know if I need to report this to the tax authorities.
6 answers
Nicola
Wed Feb 12 2025
As with any other property, its value can increase or decrease over time.
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HanbokGlamourQueen
Wed Feb 12 2025
When you sell crypto, you must report the value as capital gains or losses on your tax return.
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CryptoLegend
Wed Feb 12 2025
The same applies if you exchange crypto for another currency.
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Carlo
Wed Feb 12 2025
Crypto is taxable in Canada.
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ethan_lewis_journalist
Wed Feb 12 2025
This is because crypto is considered property in the country.
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