Skip to main content
Level 3
Nov 17, 2022 12:50 AM UTC
Solved

Crypto

If you have purchased cryptocurrency, but have not sold any, do you have to report anything about that?

    DoninGA
    DoninGAAnswer
    Level 15
    Nov 17, 2022 12:51 AM UTC

    If nothing has been sold then you do not have anything to report on a tax return.

    2 replies

    DoninGA
    Level 15
    DoninGALevel 15Answer
    Level 15
    Nov 17, 2022 12:51 AM UTC

    If nothing has been sold then you do not have anything to report on a tax return.

    Loretta P
    Employee Tax Expert
    Employee Tax Expert
    Nov 17, 2022 12:53 AM UTC

    Buying cryptocurrency isn’t a taxable event by itself. You can choose to buy and hold cryptocurrency for as long as you’d like without paying taxes on it, even if the value of your position increases.

     

    Your Crypto Tax Guide 

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"