It's considered a capital asset. If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income such as wages, up to an annual limit of $3000, or $1500 if you are married filing separately
It's considered a capital asset. If your capital losses exceed your capital gains, the excess can be deducted on your tax return and used to reduce other income such as wages, up to an annual limit of $3000, or $1500 if you are married filing separately
dunno how I got that many votes, but I'll take it LOL
They should get a deduction, right? if they claim it
maybe, see my reply to cryptoindex