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posted Jun 6, 2019 12:49:34 PM

I purchased cryptocurrency in 2017 and only suffered a $5 loss. Do I put this in my tax return? If so, how?

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Intuit Alumni
Jun 6, 2019 12:49:35 PM

If you sold the currency in 2017, you may report it. Until it is sold, it is not considered a loss.

  •      Choose Wages and Income 
  •      Choose Investment Income
  •      List each trade/sale in the Stocks, Mutual funds, Bonds, Other interview 
  •      When asked Did you get a 1099-B or a brokerage statement for these sales? select No 
  •      Type of investment you sold select "Everything else for held for investment"       

Be sure to translate proceeds of each sale into US dollars at the time of the sale or movement