Taxpayers are allowed to deduct losses up to $3,000 if married filing jointly, or $1,500 if single, in the year that the loss was incurred, and then they can also carry forward any losses above those limits into future tax years to offset future gains. TaxBit produces the tax forms necessary to claim the capital loss deduction if users lost money on their cryptocurrency transactions.
What if I Have Net Capital Losses for the Year?
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