Quote from: ataloss on May 22, 2018, 08:27:45 PM

Quote from: yuser_network on May 22, 2018, 07:30:35 PM

Hopefully, you didn't invest too much in it. Investing in any sense will always come with some loss. Even if you're really experienced, you will still have failures.

Heh, not a bad one. Just one thing I couldn't determine with crypto tokens - if I have to sell them to be able to claim the loss on the taxes I file next year. I've seen both yes and no out in the wild.

In most cases you don't have to sell. I advise you to ask an accountant, but most governments want you to report losses and gains based on the current value of your tokens. This means that if you buy a coin, and hold it until the tax year comes to an end, you should check the value of the coin and calculate whether you gained money or lost.
Personally I find it ridiculous because unrealized gains shouldn't count, and on top of that the government doesn't have the means to look into my wallet and know how much i am holding.