The IRS Wants to Tax Your Frozen Crypto
Bloomberg Crypto
How Can I Claim a Section 165 Deduction if My Cryptocurrency Is Tied Up in Bankruptcy Proceedings?
The IRS has made it very clear, at least for now, that there's not a lot of leeway for claiming losses if your assets are tied up in these bankruptcy proceedings. What they have also said is that basically, just because your cryptocurrency has plummeted in value and you've still held onto it, does not mean that you get to claim a Section 165 deduction.
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