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Level 5
March 12, 2025
Question

crypto testnet token enquiry

For the crypto, there is one called testnet token, which has no real value and  it is used to test the blockchain and help develop/optimize the program. Do I need to report the transactions on it to IRS? 

 

Thanks,

 

Helen

5 replies

DawnC
Employee Tax Expert
Employee Tax Expert
March 12, 2025

No, you can ignore the testnet token transactions; those are not real transactions and do not affect your tax return.   

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Helen123Author
Level 5
March 13, 2025
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