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I think the more important question is, “Can I deduct losses?” I would assume the answer is no.

• krembanan 4y ago
  Why is it more important? Anyone would take no tax on gains over loss deduction any day
  • altdataseller 4y ago
    No taxes on gains are more important in a bull market. Loss deduction is more important in a bear market (which crypto is in right now)
    • krembanan 4y ago
      No, the loss deduction is capped at 100% of your investment, no tax benefit can go infinite. And also assuming the market over time goes up...
      • altdataseller 4y ago
        I don’t know what point you are trying to make, but if you invested $100,000 on a crypto and it dropped 100% and you couldn’t deduct that $100k, then you would be fine with it? Over time, you have no clue whatsoever how the crypto market will do. It could go to $0 for all you know
• informalo 4y ago
  No words on this in the document unfortunately