How can I deduct capital losses from my cryptocurrency investments on my taxes?

1 answers

• Drew HackettJul 13, 2024 · a year ago
  At BYDFi, we understand the importance of deducting capital losses from your cryptocurrency investments on your taxes. To do this, you will need to report your losses on Schedule D of your tax return form. Make sure to include all the necessary details of your cryptocurrency transactions, such as the purchase and sale dates, cost basis, and proceeds. By properly reporting your capital losses, you can offset them against any capital gains and potentially reduce your tax liability. If you have any further questions, feel free to reach out to our team for assistance.
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