If you have purchased cryptocurrency, but have not sold any, do you have to report anything about that?
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2 Best answers
DoninGA
Level 15
Nov 16, 2022 4:51:29 PM
If nothing has been sold then you do not have anything to report on a tax return.
Loretta P
Employee Tax Expert
Nov 16, 2022 4:53:37 PM
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.
If nothing has been sold then you do not have anything to report on a tax return.
Loretta P
Employee Tax Expert
Nov 16, 2022 4:53:37 PM
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.