I had bought cryptocurrency in 2017,held them until the end of year without any sales and sold them only in 2018 with losses. Should I still be declaring them in 2018?

I had bought various cryptocurrencies during 2017 and held them all throughout the year without any sales. I sold them only in 2018 with losses.

1. Should I declare them while i file my taxes for 2017 mentioning how much I bought?

2. If not, should I be declaring them in the next year tax returns mentioning the losses?

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1 Best answer

New Member

Jun 6, 2019 11:10:21 AM

1) No, you do not need to record the purchases of your cryptocurrencies that you bought and did not sell.

2) You will need to report the sales of the cryptocurrencies during 2018 on your 2018 tax return as a sale of an investment (capital gains and losses).

New Member

Jun 6, 2019 11:10:21 AM

1) No, you do not need to record the purchases of your cryptocurrencies that you bought and did not sell.

2) You will need to report the sales of the cryptocurrencies during 2018 on your 2018 tax return as a sale of an investment (capital gains and losses).

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I had bought cryptocurrency in 2017,held them until the end of year without any sales and sold them only in 2018 with losses. Should I still be declaring them in 2018?