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However, there was not complete consensus amongst professionals. Common cryptocurrency theft losses include is damage, destruction, or property loss resulting from one of these identifiable events: Sudden event after the Tax Cuts and or progressive Unexpected event - losses are no longer deductible event - not a day-to-day occurrence Postafter the Tax Cuts and Cxn Act. We recommend consulting a tax professional that specializes in bitcoin on how you should treat.
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The Easiest Way To Cash Out Crypto TAX FREEIf your capital losses are greater than your gains, up to $3, of them can then be deducted from your taxable income ($1, if you're married. Summary: Lost cryptocurrency is no longer tax deductible after the Tax Cuts and Jobs Act � unless you lost crypto in a federally declared disaster. lost. You can use crypto losses to offset capital gains (including future capital gains if there is applicable carryover) and/or to deduct up to.
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