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Question

Crypto

Forum|Forum|2 years ago
November 15, 2023
1 reply
2 views

If I sell my crypto and use some of it to put a downpayment on a home, what exactly is getting taxed?

Ask the Experts - Crypto - Nov 2023

Employee Tax Expert

Employee Tax Expert

Hi @Kassel311 ,

Congratulations on the purchase of a new home!

If you sell your crypto to purchase a home the gain or loss on the entire sale of the crypto would need to be reported on your tax return as a capital gain or loss on Schedule D. The purchase of the home is not relevant in determining gains or losses.

Thank you!

MelanieCPA