Cryptocurrency Q&A
How much can I claim as a loss in crypto?
How much can I claim as a loss in crypto?
lucas_lewis_inventor
Mon Oct 21 2024
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7 answers
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I'm wondering about the amount of loss I can claim from my cryptocurrency investments. I want to know the limit or the factors that determine how much I can declare as a loss.
7 answers
CryptoVisionary
Wed Oct 23 2024
Specifically, taxpayers can write off their crypto losses against their gains, even if they do not have any capital gains to offset them.
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Carolina
Wed Oct 23 2024
In the United States, if your total capital losses exceed your total capital gains, you can deduct the difference from your taxable income.
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Carlo
Wed Oct 23 2024
Cryptocurrency investors often face fluctuations in their portfolio values, resulting in both gains and losses.
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Valentino
Wed Oct 23 2024
The deduction is limited to $3,000 per year for individual filers and $1,500 for married individuals filing separately.
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Caterina
Wed Oct 23 2024
However, any excess losses can be carried forward to future tax years to offset future gains or income.
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