{"id":11026,"date":"2022-10-14T08:30:42","date_gmt":"2022-10-14T13:30:42","guid":{"rendered":"https:\/\/www.cainwatters.com\/digitalblogs\/?p=11026"},"modified":"2022-10-18T15:03:12","modified_gmt":"2022-10-18T20:03:12","slug":"cryptocurrency-loss-irs-tax-return","status":"publish","type":"post","link":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/","title":{"rendered":"Dealing with Cryptocurrency Losses"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"11026\" class=\"elementor elementor-11026\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-6d0aae6f elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"6d0aae6f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4234d99d ae-bg-gallery-type-default\" data-id=\"4234d99d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3dc09b50 elementor-widget elementor-widget-heading\" data-id=\"3dc09b50\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to strategically handle losses on your tax return<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b8cf37d elementor-widget elementor-widget-text-editor\" data-id=\"1b8cf37d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Cryptocurrency has been a more volatile investment than the stock market over the past few years. For example, in November 2021, the cryptocurrency market hit its peak at $3 trillion, and then two months later, plummeted 40%. It still hasn\u2019t recovered its market capitalization, and as of Aug. 18, 2022, it\u2019s at a little over $1 trillion.<\/p><p>If you\u2019ve been riding the cryptocurrency wave and bought\/sold any this year, you will have to pay the taxes on it if you made a profit or on the other hand, strategically harvest the capital losses.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-52b9a355 blue-box elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"52b9a355\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-55230a12 ae-bg-gallery-type-default\" data-id=\"55230a12\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-43cce26c elementor-widget elementor-widget-text-editor\" data-id=\"43cce26c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Capital losses are the losses investors assume when selling an investment for less than they paid for it. In down years, you may be able to use your loss to lower your tax liability and better position your portfolio going forward. This strategy is called tax-loss harvesting.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-6ccb8e8d elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"6ccb8e8d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-45d9e85f ae-bg-gallery-type-default\" data-id=\"45d9e85f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-73e9f2f5 elementor-widget elementor-widget-text-editor\" data-id=\"73e9f2f5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u00a0The taxpayers\u2019 capital losses can offset up to $3,000 of their ordinary income, and additional losses can offset capital gains. Unfortunately for cryptocurrency investments, this process isn\u2019t so easy.<\/p><p>The problem cryptocurrency investors are running into right now is most companies do not have a good reporting mechanism to provide accurate documentation to taxpayers, says Senior Tax Research Manager Yunnice Chang.<\/p><p>\u201cStock is heavily regulated, and there is an industry standard in reporting transactions, including profit and losses,\u201d Yunnice said. \u201cThe challenge we are seeing is the cryptocurrency market isn\u2019t really regulated in the U.S., so the mining companies that are supposed to keep track of and report transactions aren\u2019t keeping track very accurately, if at all.\u201d<\/p><p>Investors who are used to getting the typical 1099 with a report of all their transactions are not seeing those from cryptocurrency providers. Some have to rely on their own notes they took in an excel sheet about their transaction history.<\/p><p>Recordkeeping is essential to keep track of the cost basis, or purchase price, of your prior investments. Third parties like Koinly allow taxpayers to keep track of their cryptocurrency investment transactions. Services like this one claim to create tax forms in a matter of minutes for a fee.<\/p><p>Although the IRS hasn\u2019t issued much guidance on handling cryptocurrency, it has determined that it is a property and not a security for federal tax purposes.<\/p><p>\u201cCryptocurrency is a virtual currency that is categorized as a property, unlike stock investments, which the IRS considers a security,\u201d Yunnice said. \u201cThis means it has similar tax implications, but are not the same.\u201d<\/p><p>Importantly, the wash-sale rules that normally apply to stock purchases don\u2019t apply to cryptocurrency purchases. The wash-sale rule \u00a0disallows your loss if you acquire substantially identical securities within the 61-day period beginning 30 days before the date of the loss sale and ending 30 days after that date.<\/p><p>So, investors can sell their cryptocurrency for a loss, lock in the loss amount to apply to the taxpayer\u2019s other capital gains, and then purchase the same cryptocurrency at a reduced rate sooner than 30 days.<\/p><p>\u201cThis may be an opportunity for some taxpayers,\u201d Yunnice said. \u201cBut, with the market volatility right now, it\u2019s still a gamble. You may sell your crypto and lock in a loss, then a few days later go to purchase it back, and it be a much different price.\u201d<\/p><p>Once you\u2019ve sold and locked in your loss, the investor needs to determine if it\u2019s a short-term or long-term capital loss.<\/p><p>\u201cYour tax preparer or CPA can help you determine which cost basis method would be best to use to harvest your losses,\u201d Yunnice said. \u201cThere are different tax implications for short-term and long-term capital losses and other factors to consider as with any investment.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-275f141 elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"275f141\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-48cf1500 blue-box ae-bg-gallery-type-default\" data-id=\"48cf1500\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1bf4266 elementor-widget elementor-widget-text-editor\" data-id=\"1bf4266\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Our advisors can help you not only with your financial planning but also with your investment strategy. <strong><a href=\"https:\/\/www.cainwatters.com\/contact\/\"><span style=\"text-decoration: underline; color: #33cccc;\">Contact a member of our team<\/span><\/a> <\/strong>today for a complimentary consultation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>How to strategically handle losses on your tax return Cryptocurrency has been a more volatile investment than the stock market over the past few years. For example, in November 2021, the cryptocurrency market hit its peak at $3 trillion, and then two months later, plummeted 40%. It still hasn\u2019t recovered its market capitalization, and as [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":11051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_ppma_block_editor_authors":""},"categories":[16,21],"tags":[],"ppma_author":[48],"class_list":["post-11026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-news-feature","category-tax-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dealing with Cryptocurrency Losses<\/title>\n<meta name=\"description\" content=\"If you\u2019ve been riding the cryptocurrency wave and bought\/sold any this year, you will have to pay the taxes on it if you made a profit or on the other hand, strategically harvest the capital losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dealing with Cryptocurrency Losses\" \/>\n<meta property=\"og:description\" content=\"If you\u2019ve been riding the cryptocurrency wave and bought\/sold any this year, you will have to pay the taxes on it if you made a profit or on the other hand, strategically harvest the capital losses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/\" \/>\n<meta property=\"og:site_name\" content=\"Cain Watters Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-14T13:30:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-18T20:03:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cainwatters.com\/digitalblogs\/wp-content\/uploads\/sites\/2\/2022\/09\/crypto_1200x628-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"CWA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CWA\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/\"},\"author\":{\"name\":\"CWA\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/#\\\/schema\\\/person\\\/5377defb92fcf06c1ff8504bf9880267\"},\"headline\":\"Dealing with Cryptocurrency Losses\",\"datePublished\":\"2022-10-14T13:30:42+00:00\",\"dateModified\":\"2022-10-18T20:03:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/\"},\"wordCount\":647,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/09\\\/crypto_1200x628-1.jpg\",\"articleSection\":[\"Digital News Feature\",\"Tax News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/\",\"url\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/\",\"name\":\"Dealing with Cryptocurrency Losses\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/09\\\/crypto_1200x628-1.jpg\",\"datePublished\":\"2022-10-14T13:30:42+00:00\",\"dateModified\":\"2022-10-18T20:03:12+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/#\\\/schema\\\/person\\\/5377defb92fcf06c1ff8504bf9880267\"},\"description\":\"If you\u2019ve been riding the cryptocurrency wave and bought\\\/sold any this year, you will have to pay the taxes on it if you made a profit or on the other hand, strategically harvest the capital losses.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/09\\\/crypto_1200x628-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2022\\\/09\\\/crypto_1200x628-1.jpg\",\"width\":1200,\"height\":628},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/cryptocurrency-loss-irs-tax-return\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dealing with Cryptocurrency Losses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/#website\",\"url\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/\",\"name\":\"Cain Watters Blog\",\"description\":\"Long Term Solutions for Financial Independence\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/#\\\/schema\\\/person\\\/5377defb92fcf06c1ff8504bf9880267\",\"name\":\"CWA\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7cd3f0890490030e268fd26d8201e65299246a9877bf0580593351d6e7b2d23b?s=96&d=mm&r=g6624cf3b6f65cf286af28a8c7bd86693\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7cd3f0890490030e268fd26d8201e65299246a9877bf0580593351d6e7b2d23b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/7cd3f0890490030e268fd26d8201e65299246a9877bf0580593351d6e7b2d23b?s=96&d=mm&r=g\",\"caption\":\"CWA\"},\"url\":\"https:\\\/\\\/www.cainwatters.com\\\/digitalblogs\\\/author\\\/paigeworley\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dealing with Cryptocurrency Losses","description":"If you\u2019ve been riding the cryptocurrency wave and bought\/sold any this year, you will have to pay the taxes on it if you made a profit or on the other hand, strategically harvest the capital losses.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/","og_locale":"en_US","og_type":"article","og_title":"Dealing with Cryptocurrency Losses","og_description":"If you\u2019ve been riding the cryptocurrency wave and bought\/sold any this year, you will have to pay the taxes on it if you made a profit or on the other hand, strategically harvest the capital losses.","og_url":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/","og_site_name":"Cain Watters Blog","article_published_time":"2022-10-14T13:30:42+00:00","article_modified_time":"2022-10-18T20:03:12+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-content\/uploads\/sites\/2\/2022\/09\/crypto_1200x628-1.jpg","type":"image\/jpeg"}],"author":"CWA","twitter_card":"summary_large_image","twitter_misc":{"Written by":"CWA","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#article","isPartOf":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/"},"author":{"name":"CWA","@id":"https:\/\/www.cainwatters.com\/digitalblogs\/#\/schema\/person\/5377defb92fcf06c1ff8504bf9880267"},"headline":"Dealing with Cryptocurrency Losses","datePublished":"2022-10-14T13:30:42+00:00","dateModified":"2022-10-18T20:03:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/"},"wordCount":647,"commentCount":0,"image":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-content\/uploads\/sites\/2\/2022\/09\/crypto_1200x628-1.jpg","articleSection":["Digital News Feature","Tax News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/","url":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/","name":"Dealing with Cryptocurrency Losses","isPartOf":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#primaryimage"},"image":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-content\/uploads\/sites\/2\/2022\/09\/crypto_1200x628-1.jpg","datePublished":"2022-10-14T13:30:42+00:00","dateModified":"2022-10-18T20:03:12+00:00","author":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/#\/schema\/person\/5377defb92fcf06c1ff8504bf9880267"},"description":"If you\u2019ve been riding the cryptocurrency wave and bought\/sold any this year, you will have to pay the taxes on it if you made a profit or on the other hand, strategically harvest the capital losses.","breadcrumb":{"@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#primaryimage","url":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-content\/uploads\/sites\/2\/2022\/09\/crypto_1200x628-1.jpg","contentUrl":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-content\/uploads\/sites\/2\/2022\/09\/crypto_1200x628-1.jpg","width":1200,"height":628},{"@type":"BreadcrumbList","@id":"https:\/\/www.cainwatters.com\/digitalblogs\/cryptocurrency-loss-irs-tax-return\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cainwatters.com\/digitalblogs\/"},{"@type":"ListItem","position":2,"name":"Dealing with Cryptocurrency Losses"}]},{"@type":"WebSite","@id":"https:\/\/www.cainwatters.com\/digitalblogs\/#website","url":"https:\/\/www.cainwatters.com\/digitalblogs\/","name":"Cain Watters Blog","description":"Long Term Solutions for Financial Independence","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cainwatters.com\/digitalblogs\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.cainwatters.com\/digitalblogs\/#\/schema\/person\/5377defb92fcf06c1ff8504bf9880267","name":"CWA","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/7cd3f0890490030e268fd26d8201e65299246a9877bf0580593351d6e7b2d23b?s=96&d=mm&r=g6624cf3b6f65cf286af28a8c7bd86693","url":"https:\/\/secure.gravatar.com\/avatar\/7cd3f0890490030e268fd26d8201e65299246a9877bf0580593351d6e7b2d23b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7cd3f0890490030e268fd26d8201e65299246a9877bf0580593351d6e7b2d23b?s=96&d=mm&r=g","caption":"CWA"},"url":"https:\/\/www.cainwatters.com\/digitalblogs\/author\/paigeworley\/"}]}},"authors":[{"term_id":48,"user_id":7,"is_guest":0,"slug":"paigeworley","display_name":"CWA","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/7cd3f0890490030e268fd26d8201e65299246a9877bf0580593351d6e7b2d23b?s=96&d=mm&r=g","author_category":"","first_name":"Paige","last_name":"Worley","user_url":"","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/posts\/11026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/comments?post=11026"}],"version-history":[{"count":0,"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/posts\/11026\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/media\/11051"}],"wp:attachment":[{"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/media?parent=11026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/categories?post=11026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/tags?post=11026"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.cainwatters.com\/digitalblogs\/wp-json\/wp\/v2\/ppma_author?post=11026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}