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Originally Posted by Demonpenz
Brokerage is like E-trade right? How do you claim your losses and wins on your taxes. Like if I lost money through bitcoin.
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It only becomes an actual tax consequence if you sell it, making it a realized loss. If you continue to hold onto the losing stock into the new tax year, it means nothing for your taxes.
If you sell, you should receive a 1099-B form with loses and gains.
Your income tax bracket matters. If you are in the 10 or 15% tax bracket, you are not liable for any taxes on capital gains.
Read more: Here's How to Deduct Your Stock Losses From Your Tax Bill |
http://www.investopedia.com/articles...r-tax-bill.asp