Friday, April 15, 2022

Capital gains/losses with ethereum

I’m using taxbit and koinly.

My situation: used bitcoin to buy eth: $16k capital gain on Crypto.com = taxable gain. Then I Immediately bought a NFT on opensea for 18 eth ~ $56700 a month ago = taxable event but little to no gain since I used it immediately to buy the NFT.

Sold the NFT and got back 17 ethereum after fees a month later, got back less in dollar value as well.

Question: since in dollar value I experienced a loss on paper, then I cash out of this ethereum into US dollars (taxable event), can I claim a loss?


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