How Crypto Losses Could Result in Tax Benefits

How Crypto Losses Could Result in Tax Benefits
Even if you suffered losses on your crypto investments this year, there’s still some good news. The IRS allows investors to claim deductions on cryptocurrency losses that can lessen tax liabilities or even result in a tax refund. There are also investment strategies you can use throughout the year to maximize your losses and get the most out of your crypto investments. Offset capital gains Cryptocurrency losses can be used to offset capital gains. A capital gain occurs when you sell, transfer or otherwise dispose of your crypto for a profit. The tax you pay on capital gains depends on…