Questions tagged [crypto losses]

Riccardo Mon May 13 2024 | 7 answers 1569

Excuse me, I'm a bit confused about something related to taxes and cryptocurrencies in Canada. Could you possibly explain to me if it's possible to claim losses on cryptocurrencies for tax purposes? I've heard rumors that there might be some sort of tax relief for investors who have incurred losses in the crypto market, but I'm not quite sure how it works or if it's even true. Could you clarify this matter for me? It would be greatly appreciated. Thank you in advance for your time and assistance.

WhisperVoyager Sat Mar 30 2024 | 7 answers 1786

Good afternoon, I'm a bit confused about the tax regulations regarding cryptocurrency in the UK. I've invested in some cryptocurrencies and unfortunately, I've incurred some losses. My question is, do I need to declare these losses when filing my taxes? I'm not entirely sure how the system works with crypto losses. Could you please clarify this for me? Thank you in advance for your help.

DondaejiDelight Sat Mar 30 2024 | 5 answers 1021

Hello, I am a crypto investor and have been actively trading cryptocurrencies for some time. However, I suffered significant losses in my crypto investments two years ago. I would like to know if I can still report these losses for tax purposes or if there is any way to recoup my losses. Could you please provide me with some guidance on this matter? Thank you very much.

SsangyongSpiritedStrengthCourageBravery Sat Mar 30 2024 | 6 answers 1057

Good day, I am a cryptocurrency investor in the UK. I have recently encountered some losses in my crypto investments and was wondering if there is a way to write these losses off? I understand that the tax regulations in the UK can be quite complex, so I am hoping for some clarification on this matter. Could you please advise me on whether I am able to deduct these crypto losses from my taxable income? If so, what are the specific requirements and procedures I need to follow? Thank you for your time and assistance.

GeishaMelodious Sat Mar 30 2024 | 7 answers 1236

Excuse me, I'm somewhat new to the world of cryptocurrency investing. Could you please enlighten me on a matter related to taxation? I understand that crypto investments can be volatile, and I've unfortunately incurred some losses. My question is, how far back in time can I claim these losses when it comes to tax filings? I'm aware that there are specific rules and regulations, but I'd appreciate a more detailed explanation. Thank you for your time.