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/biz/ - Business & Finance

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11908702 No.11908702 [Reply] [Original]

>lose in crypto beyond recovery
>pretend you did not lose anything at all
>start all over again like if you're new to crypto
>start tracking profit from scratch
How many of you have actually done that?

>> No.11908711

>>11908702
*knock knock*
hello mr.neetman, IRS here

>> No.11908723

>>11908711
hello mr IRS
I lost everything
I am deducting this from my taxes

>> No.11908727

>>11908702
>beyond recovery
>start all over again
so you recovered.

>> No.11908736

>>11908723
that is fine, mr. neetman thank you for reporting. remember only 3k of losses deductible per year.

>> No.11908749

>>11908723
only get to claim 3k max per year

>> No.11908868

>>11908736
>>11908749
It can be carried over into following years to offset any future capital gains though.