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(Serious) If someone lost money due to an exchange going bankrupt, can they claim that on their taxes?

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by COINS NEWS 71 Views

With so many exchanges seemingly falling one by one, I am willing to bet someone else out there lost money as well (I started using Voyager around 2021) I had long term assets, and also coins that I bought around Feb-March of this year. I am unable to withdraw anything and seemingly have lost all the money I invested, which is more than $600.

However, since I technically didn’t sell, can I claim this as a loss on my taxes for this year? Or do I have to wait until the auction process ends and hopefully it is purchased and I then get a portion of crypto back, which I would obviously then sell.

Before I talk to a tax professional, I’d appreciate some feedback regarding this.

TLDR: Can I claim a loss on my taxes if my exchange went bankrupt and I didn’t technically sell any assets?

submitted by /u/crownpoly
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