BIT COIN BUST
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Louis Avalos
Mar 26, 2023, 1:00:46 AM3/26/23
to CLIENT WHY
Client was very active in the bitcoin drama and made money in 2021. In 2022 his bitcoin holder went bust thus rendering the holding worthless. Do we a process for reporting these now worthless bitcoins?
thanks
Louis Avalos MBA EA
C.949.322.9094 F.866-381-8240
louis...@yahoo.com
Enrolled to Practice Before the IRS
Effective Planning
www.taxplanningbyla.comC.949.322.9094 F.866-381-8240
louis...@yahoo.com
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Lee Reams
Mar 26, 2023, 1:39:08 AM3/26/23
to 'giraffes5gb' via ClientWhysConnect
Yes, on Schedule D, just like a stock transaction if they truly are worthless.
Lee
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