It’s that wonderful time of the year where we file our taxes and last year today I was hoping that Ethereum will Touch 10k when it was 1300$ and today I am sitting and looking at a realized loss of 14k .. So only 3k loss a year can be claimed? I have no other profits from crypto or stock sales. Any other advise? Thank you.
Can carried over loss be written off against profits next year?
Yes
Stop being a sucker is the better way to profit here.
I thought Crypto is property. You can’t claim losses.
Correct
Feel free to correct me if I’m wrong but I thought if filing as single you can only deduct up to $1500 after offsetting gains. $3000 if married filing jointly.
Crypto is properly according to the irs so you cannot write off any. People will get mad but that's the irs guidance...
If you owned an investment property and sold it for a loss, don't you write off capital loss up to $3000? If it's a short term loss, then it's ordinary loss and you can't write it off.
Yep, but an investment property is a business which allows capital loss. To match your example crypto would be like buying a personal car and then trying to write off the depricitation.
Carry over to next year
This. It’s mostly too late to take evasive action for 2018 anyways.
Thanks..