Should I report buying $100 worth of Etherium on CoinBase? I didn't sell it or anything, I think this means I'm just holding it? (I know nothing about crypto).

352

Expert Alumni

Mar 17, 2022 8:19:18 PM

No, you do not report the purchase (with no sale) of Etherium, or any other cryptocurrency. You will report it if/when you sell it, or it becomes worthless.

Level 15

Mar 17, 2022 8:38:18 PM

@rlebrun07

only SELL transactions of capital assets are to be reported on your income tax return.

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Should I report buying $100 worth of Etherium on CoinBase? I didn't sell it or anything, I think this means I'm just holding it? (I know nothing about crypto).