Getting started

Yes, you could claim the loss next year because the loss (transaction) mainly happened in 2022.

 

If you have a gain/loss in your cryptocurrency trading, you don't have to cash out but still have the responsibility to report it. 

 

(For example, if you bought stocks and then sold them for a gain, it’s a taxable event. Just because you haven’t withdrawn any physical cash from your accounts doesn’t change that fact. This is no different from selling stocks and not withdrawing the money from your account. Make sure you keep records of your cryptocurrency transaction in case the Canada Revenue Agency(CRA) asks to see them.)

 

For more information on how to report gain/loss in TurboTax, please click:

TurboTax  How do I report the sale of cryptocurrency on my taxes?

 

 

Thank you for choosing TurboTax.

View solution in original post