Do you pay taxes on crypto losses

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IF YOU HAVE CRYPTO LOSSES IN 2022 DO THIS BEFORE DEC. 31st!
Do you pay taxes on crypto losses? The short answer is no. If you have an asset that you hold at a loss, you need to realize the loss or sell. They are now no longer tax deductible. So if you've lost your crypto due to a hack or scam, you cannot claim it as a loss and offset it against your gains. Cryptocurrencies such as Bitcoin are treated as property by the IRS, and they are subject to capital gains and losses rules.