HallyuHeroine
Fri Jun 07 2024
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5 answers
1152
Can I claim crypto losses on my taxes?
Hello there, I've been dabbling in the cryptocurrency market for a while and, well, let's just say it hasn't been the smoothest ride. I've lost quite a sum in some investments. Now, I'm wondering if there's any way I can recoup some of those losses on my taxes? Is it possible to claim crypto losses for tax purposes? And if so, how does the process work? Do I need to provide any specific documentation or proof? I'm just trying to get a grasp of the tax implications of my crypto dealings and see if there's any way I can benefit from my losses, if that's even a thing. Can you help clarify this for me?
MountFujiView
Thu Jun 06 2024
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5 answers
725
Can I claim crypto losses on taxes in Canada?｜Capital losses from crypto-assets . You cannot deduct your allowable capital losses against income from other sources, such as employment income.You are allowed to deduct half of your capital losses (known as allowable capital losses), but only against your taxable capital gains
Could you please clarify for me the tax regulations in Canada regarding cryptocurrency losses? I'm particularly interested in knowing if it's possible to claim such losses for tax purposes. Furthermore, are these losses deductible against other types of income, such as employment income? And what exactly does it mean by deducting half of the capital losses? Is this deduction limited only to taxable capital gains? Thank you for your assistance in clarifying these matters.
Riccardo
Mon May 13 2024
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7 answers
1569
Can I claim crypto losses on taxes in Canada?
Excuse me, I'm a bit confused about something related to taxes and cryptocurrencies in Canada. Could you possibly explain to me if it's possible to claim losses on cryptocurrencies for tax purposes? I've heard rumors that there might be some sort of tax relief for investors who have incurred losses in the crypto market, but I'm not quite sure how it works or if it's even true. Could you clarify this matter for me? It would be greatly appreciated. Thank you in advance for your time and assistance.
WhisperVoyager
Sat Mar 30 2024
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7 answers
1786
Do I have to declare crypto losses UK?
Good afternoon, I'm a bit confused about the tax regulations regarding cryptocurrency in the UK. I've invested in some cryptocurrencies and unfortunately, I've incurred some losses. My question is, do I need to declare these losses when filing my taxes? I'm not entirely sure how the system works with crypto losses. Could you please clarify this for me? Thank you in advance for your help.
DondaejiDelight
Sat Mar 30 2024
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5 answers
1021
Can I report crypto losses from 2 years ago?
Hello, I am a crypto investor and have been actively trading cryptocurrencies for some time. However, I suffered significant losses in my crypto investments two years ago. I would like to know if I can still report these losses for tax purposes or if there is any way to recoup my losses. Could you please provide me with some guidance on this matter? Thank you very much.
