Hey Twitter, asking for a friend, if you get paid 10k in bitcoin but now that amount if bitcoin is 5k (these are fake numbers), how much do you claim on taxes?
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Ok so I can use the loss in finance invest to offset some?
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Your mileage may vary by country, but generally, this is how it works. If the BTC had doubled, that would have been taxable income, so only fair to deduct losses.
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You can claim the loss only when you sell it, right? IANACPA...
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Again, might vary by country. Usually, for the personal case, you're right. Case is different for companies with obligations for balance sheets.
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