Nicola
Sat Jun 08 2024
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7 answers
1789
Do I need to report crypto if I lost money?｜.The IRS requires US taxpayers to report all cryptocurrency transactions, including sales for losses
Do I actually have to inform the IRS about my losses in cryptocurrency? I've heard rumors that even losses in crypto trading are subject to reporting requirements. Is this true? After all, it's not like I've gained any profit from it. Would it still be necessary to declare these losses, given that the IRS demands US taxpayers to disclose all crypto transactions, even those resulting in a loss? I'm a bit confused about this matter, and I'd appreciate some clarification.
