Only when you sell it at a profit because of the capital gains. If you have a loss, they could care less and probably prefer you DON'T report it. Same thing with gold or any other investment you sell at a profit.Wonder how many know that cryptocurrency is considered property that must be filed with the IRS?
You may be able to deduct capital losses up to the amount of your capital gains plus $3,000 ($1,500 if married filing separately). You may be able to use capital losses that exceed this limit in future years.
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