So back in 2021 I bought ethereum crypto via coinbase and I transferred that eth and used to buy random crypto projects via crypto wallets.. I have not traded bought or sold any crypto since.. I'm overall way down (at a loss) since my initial investment across several projects.. My questions are as follows:
1. If I'm at a loss and report a loss, does the irs allow that loss to reduce my tax obligations on my w2 income or schedule c small business income?
2. I have never reported anything on my return as a buy or sell because the way I read it, I only report if I actually sell that position(s). Was that correct?
3. I never received any tax forms from coinbase, does that sound OK considering I never brought ethereum or never converted to usd to move money back to my bank account?
Let me know
