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Level 1
posted Nov 15, 2023 9:43:59 AM

Crypto

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

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1 Replies
Employee Tax Expert
Nov 15, 2023 9:53:37 AM

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