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New Member
posted Feb 12, 2020 3:11:03 PM

I have a loss from cryptocurrency, but it is fairly small and I really don't care about claiming the loss against my income, can I just ignore the loss?

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1 Replies
Expert Alumni
Feb 12, 2020 3:35:46 PM

You can choose not to claim your small capital loss. However, there has been case where the IRS will question you about your sales of cryptocurrencies and will try on tax you on the gross proceeds as they may have no report of cost bases.