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Investors & landlords
@Opus 17 - my understanding is that the IRS considers cryptcurrency as an asset, so any sale of that asset is reportable as either a gain or loss (depending on the cost basis). Can you please help me understand why you can't report a loss when selling crypto at a loss ( when using it to buy a good or service) ? I can't find that documented anywhere. if the crypto is traded for another asset, it is a sale (and a reportable gain / loss) and no different than trading that crypto for a good or service (and also having to report the gain / loss) is my understanding.
thanks in advance
‎July 29, 2022
1:47 PM