Do I report cryptocurrency on my 2020 tax return if I only sold it in 2021?

taneumx · ‎March 21, 2021

I am confused by the "aquired" term in the reporting question, I bought crypto in 2020, but only realized the gains in 2021

AnnetteB6 · ‎March 22, 2021

No, if you did not sell, trade, or spend any cryptocurrency in a transaction during 2020, then there is nothing required to be reported on your 2020 tax return.

Simply purchasing and holding a cryptocurrency is not a taxable or reportable transaction.

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fanfare · ‎March 22, 2021

acquired means received, gifted, vested, inherited, stole or bought.

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Do I report cryptocurrency on my 2020 tax return if I only sold it in 2021?