Transactions made at Bitcoin ATMs are taxable in the same way other trades between legal tender and cryptocurrency are.
- In your desired manual Depot, click the button Add Transaction.
- Under "Transaction Type", choose "ATM Deposit" or "ATM Withdrawal".
If you bought Bitcoin for legal tender, this qualifies as a deposit.
If you sold Bitcoin for legal tender, on the other hand, this should be entered as a withdrawal. - Enter the date and time of the transaction.
- For deposits: "From currency" refers to the legal tender you used to buy cryptocurrency. Enter the currency you used for the payment as well as its quantity. In addition, you’ll need to state the cryptocurrency you bought under "To currency" as well as its quantity.
For withdrawals: "From currency" refers to the cryptocurrency you exchanged for legal tender at the ATM. Enter the currency you used for the payment as well as its quantity. In addition, you’ll need to state the legal tender you received under "To currency" as well as its quantity.
In the input field for the currency, you can either choose from the drop-down list or enter a currency manually if it does not appear in the list. - You can choose to add a note. Notes can be helpful to sort trades into categories. You can also indicate that the transaction is to be ignored in the balance.
- Click Save to display the transaction in the Depot.