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Tax tips 2023: How to tackle crypto losses on your 2022 tax returnTypically, you can't deduct losses for lost or stolen crypto on your return. The IRS states two types of losses exist for capital assets. They are now no longer tax deductible. So if you've lost your crypto due to a hack or scam, you cannot claim it as a loss and offset it against your gains. Unless they are earning interest from staking or other scenarios, cryptocurrencies are not subject to IRS taxes when you hold them in your.
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