AzurePulseStar
Sun Jun 09 2024
|
6 answers
1574
Can I claim crypto losses on my taxes?｜. If your total capital losses exceed your total capital gains, US taxpayers can deduct the difference as a loss on your tax return, up to $3,000 per year ($1,500 if married filing separately).Yes , you can write off crypto losses on taxes even if you have no gains
Can I actually claim my losses in cryptocurrency on my taxes? I've heard that if my total capital losses outweigh my gains, there's a possibility of deducting the difference. Is this accurate? Also, would this deduction be limited to a certain amount per year? And another thing, what if I haven't had any gains? Would I still be able to write off my losses? I'm really curious about this, so could you please clarify?
SsangyongSpirit
Sat Jun 08 2024
|
7 answers
1823
Do I have to pay taxes if I lost money on crypto?｜. If your total capital losses exceed your total capital gains, US taxpayers can deduct the difference as a loss on your tax return, up to $3,000 per year ($1,500 if married filing separately).Yes, you can write off crypto losses on taxes even if you have no gains
Hello there, I have a question regarding cryptocurrency and taxes. So, do I actually need to pay taxes if I've lost money investing in crypto? I've heard that if my total losses are greater than my gains, I might be able to deduct some of that loss on my tax return. Is that true? And if so, how much can I deduct? Also, can I still write off my crypto losses even if I haven't made any gains this year? I'm just trying to get a clearer understanding of the tax implications of investing in crypto. Could you help me with that?
Tommaso
Sat Jun 08 2024
|
5 answers
1669
Do you pay taxes if you lose money on crypto?｜. If your total capital losses exceed your total capital gains, US taxpayers can deduct the difference as a loss on your tax return, up to $3,000 per year ($1,500 if married filing separately).Yes, you can write off crypto losses on taxes even if you have no gains
Could you please clarify, in the context of cryptocurrency investments, whether tax obligations still apply if one experiences losses? If my losses in crypto investments outweigh my gains, am I allowed to deduct the difference from my tax return? I've heard that there's a limit of $3,000 per year for individuals and $1,500 for married couples filing separately. But is it true that even if I haven't realized any gains, I can still write off my crypto losses on taxes? I'd appreciate a detailed explanation of this matter.
HallyuHeroine
Fri Jun 07 2024
|
5 answers
1152
Can I claim crypto losses on my taxes?
Hello there, I've been dabbling in the cryptocurrency market for a while and, well, let's just say it hasn't been the smoothest ride. I've lost quite a sum in some investments. Now, I'm wondering if there's any way I can recoup some of those losses on my taxes? Is it possible to claim crypto losses for tax purposes? And if so, how does the process work? Do I need to provide any specific documentation or proof? I'm just trying to get a grasp of the tax implications of my crypto dealings and see if there's any way I can benefit from my losses, if that's even a thing. Can you help clarify this for me?
MountFujiView
Thu Jun 06 2024
|
5 answers
725
Can I claim crypto losses on taxes in Canada?｜Capital losses from crypto-assets . You cannot deduct your allowable capital losses against income from other sources, such as employment income.You are allowed to deduct half of your capital losses (known as allowable capital losses), but only against your taxable capital gains
Could you please clarify for me the tax regulations in Canada regarding cryptocurrency losses? I'm particularly interested in knowing if it's possible to claim such losses for tax purposes. Furthermore, are these losses deductible against other types of income, such as employment income? And what exactly does it mean by deducting half of the capital losses? Is this deduction limited only to taxable capital gains? Thank you for your assistance in clarifying these matters.
