I will like your input, if it is a good decision to claim crypto losses made from 2020-2024. I am an American citizen, just started my first job in the US, was a student not earning money was why i never filed, The address used to open brokerage accounts was my family address in US, but i lived mostly in puerto rico and traveled to Baltimore, Georgia state and Florida for schooling, had a Florida license for a short while, it is a complicated situation, can i claim losses or start afresh now I am working and living in US mainland
Posted by John-zel
1 Comment
losses from sales of crypto can only be claimed on taxes for the year you sold and incurred the losses. It’s not too late to file for some of those years, but it might be for others. Once “logged” by filing for, say, 2023, you can then carry forward the losses
I thought Puerto Rico was part of the US and was subject to the US federal income tax system… but if I’m wrong, then you probably cannot claim losses on US federal income tax for those years that you lived in Puerto Rico exclusively.