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Visitor II

Can Bitcoin realized losses be counted as capital losses?

If I sell my Bitcoin holdings, will my realized losses be counted as capital losses during tax season?

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Tax Expert

Can Bitcoin realized losses be counted as capital losses?

Yes, if you have a net recognized loss. Your recognized loss/gain is treated similarly to stock or investments. It is netted with other capital gain/loss and taxed according to long- or short-term gain loss.   Here is a link with some information about how cryptocurrency is taxed.   At the bottom of that FAQ there are more FAQs with details on how to report it on your tax return. 

Visitor II

Can Bitcoin realized losses be counted as capital losses?

Thanks!

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