Do I have to file $50 worth of Crypto purchase & $200 Dodgecoin?

[krslnguyen]

Hello there,

In the year of 2021, I only bought $50 worth of shina ibu on crypto.com and $200 worth of Dogecoin on Robinhood.  I haven't sold or make any changes on these transactions, it's been sitting there since I purchased them and loosing money.

 Do I need to claim these  purchases on my tax , not sure what was the threshold requirement as I live in the state of WA.

Thank You so much for your help,

Rose

[Critter-3]

Purchases are NEVER reported on an income tax return ... only the sales when you finally sell them. 

[Vanessa A]

No, if you haven't sold or bought anything with the Crypto, you do not need to report anything.  If you sell or otherwise dispose of the Crypto and Dodgecoin, then you will need to report the transaction. 

[krslnguyen]

Thank you so much, I appreciated the help !

[krslnguyen]

Thank you for your guidance , appreciated it !