Bitcoin Taxes: 61% of Holders Won’t Report Losses to IRS38.4

The US tax season has begun, and this might finally be the year to declare your bitcoin and crypto-assets. Sure, bitcoin taxes can be complicated, but research suggests that 61% of holders don’t realize they can write off last years losses as a tax deduction.

3 years of solid (53 percent in 2015) to phenomenal (1245 percent in 2017) growth, have seen bitcoin gains conveniently overlooked on many tax returns. But with bitcoin losing over 70 percent of its value last year, many investors will have sold at a loss.

Original source
https://bitcoinist.com/bitcoin-taxes-report-losses-irs/

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