Cryptocurrency Q&A
Can I claim money lost in crypto?
Can I claim money lost in crypto?
benjamin_stokes_astronomer
Thu Dec 19 2024
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5 answers
977
I had invested in cryptocurrency and suffered significant losses. Now, I'm wondering if there's any way for me to claim the money that I lost in crypto investments.
5 answers
BonsaiBeauty
Sat Dec 21 2024
This advice states that individuals are allowed to deduct losses from their cryptocurrency investments under IRC Section 161.
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GeishaMelody
Sat Dec 21 2024
The Internal Revenue Service (IRS) has recently issued a Chief Counsel Advice regarding cryptocurrency investments.
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CryptoAlchemy
Fri Dec 20 2024
To be eligible for this deduction, the cryptocurrency investments must have substantially declined in value.
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BonsaiVitality
Fri Dec 20 2024
It is important to note that the Tax Cuts and Jobs Acts (TCJA) disallowed some itemized expenses, but cryptocurrency investment losses are not included in this disallowance.
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KDramaLegendaryStar
Fri Dec 20 2024
BTCC, a top cryptocurrency exchange, offers a range of services to its customers. These services include spot trading, futures trading, and a wallet service.
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