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Level 3
November 17, 2022
Solved

Crypto

  • November 17, 2022
  • 2 replies
  • 4 views

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

    Best answer by DoninGA

    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
    November 17, 2022

    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
    November 17, 2022

    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 

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