I typically purchase cryptocurrency and then transfer it to an online staking service. I invested around $800 in these assets, but unfortunately, I ended up with a loss. How do the capital gains rules apply in such scenarios? Am I required to report all of my crypto purchase transactions even if I experienced a loss? I’m seeking advice on the correct approach to accounting for cryptocurrency transactions when filing taxes.
hey, even if you lost money, u gotta report each crypto buy/sell. losses can offset gains, but accuracy is key. its best to double-check with a tax pro cause regulations change and small mistakes can catch up on you 
Based on my personal experience, I can say that every transaction, including those with losses, needs to be reported when you file your taxes. This is because the tax system considers each crypto deposit and sale as individual events that can contribute to your overall taxable income. Even if your investment ultimately resulted in a loss, it is essential to keep detailed records for each transaction. I found that organizing these details carefully helped when discussing matters with a tax advisor, ensuring that everything was accurately reported and accounted for.