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Star168
November 15, 2023
Question

I didn’t make any money with crypto in the year, do I have to report it?

  • November 15, 2023
  • 1 reply
  • 0 views

I didn’t make any money with crypto in the year. In fact I lost some money. Do I have to report it?

1 reply

TeriH
TeriH
November 15, 2023

Great question!

 

If you sold any crypto or earned any income, it is reportable.  That being said, if your losses exceed your gains, you can write off up to $3000 per year.  Any excess is carried-forward.

 

Here's a great article on how cryptocurrency is taxed.

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    S
    Star168Author
    November 15, 2023

    If I didn't report my crypto trade loss in 2022, can I still report it for my filing for 2023?

    TeriH
    TeriH
    November 15, 2023

    You would need to go back and amend 2022.

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