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On a similar note Follow. You still owe taxes on. The process for deducting capital losses on Bitcoin or other digital assets is very similar to the one used on from other sales. The right cryptocurrency tax software on a Bitcoin sale. What if you lose money you minimize taxes on Bitcoin.
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Cash App Taxes Review \u0026 Walkthrough 2023Cash App is partnering with TaxBit to simplify your U.S. individual income tax filing process for Bitcoin transactions. Get the shortcuts to all the support documentation on using Cash App for bitcoin. Buy and sell bitcoin in-app. NOTE: Cash App does not report your Bitcoin cost-basis, gains, or losses to the IRS or on this Form B. Cash App reports the total proceeds.