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sashabiruk11
Level 1

I bougt a cryptocurrency but didn't sell it. Do I need to report it somewhere ?

 
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DavidS127
Expert Alumni

I bougt a cryptocurrency but didn't sell it. Do I need to report it somewhere ?

No, you don't need to report the purchase of cryptocurrency if you did not sell it, exchange it, or buy something with it.

 

Be sure to keep track of what you paid for your cryptocurrency in U.S. dollars, so that you'll have the information you need to report future transactions for tax purposes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
DavidS127
Expert Alumni

I bougt a cryptocurrency but didn't sell it. Do I need to report it somewhere ?

No, you don't need to report the purchase of cryptocurrency if you did not sell it, exchange it, or buy something with it.

 

Be sure to keep track of what you paid for your cryptocurrency in U.S. dollars, so that you'll have the information you need to report future transactions for tax purposes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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