Is it required to report the purchase of crypto?

halh71562 · ‎March 16, 2024

AnnetteB6 · ‎March 16, 2024

No, if all you have done is purchase and hold a cryptocurrency, then there is nothing that must be reported on your tax return.

If you have spent it, sold it, or exchanged it for another cryptocurrency, then you may have a taxable transaction that must be reported.

To learn more, take a look at the following TurboTax article:

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AnnetteB6 · ‎March 16, 2024

No, if all you have done is purchase and hold a cryptocurrency, then there is nothing that must be reported on your tax return.

If you have spent it, sold it, or exchanged it for another cryptocurrency, then you may have a taxable transaction that must be reported.

To learn more, take a look at the following TurboTax article:

**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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