Here's how to report 2022 crypto losses on your tax return
Publishing timestamp: 2023-03-15 13:41:27
Summary
Tax-loss harvesting may offer relief for those who suffered losses in the crypto market in 2022. By using losses to offset gains, investors can trim up to $3000 from their regular income. However, there are concerns about reporting losses on taxes due to bankruptcies and platform collapses. It is important to disclose crypto activity on tax returns, as the IRS has been pursuing customer records from exchanges.
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Keywords: bitcoin/usd bitstamp, business news, personal saving, wealth, taxes, tax planning, personal finance, cryptocurrency exchanges, national taxes, cryptocurrency, government taxation and revenue, bitcoin/usd coin metrics,
Source: https://www.cnbc.com/2023/03/15/heres-how-to-report-2022-crypto-losses-on-your-tax-return.html