USA Crypto Currency question


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Hi Everyone,

In regards to crypto currency for 2019, I purchased about $3,000 USD worth of crypto to hold on to for long term. It was my first time doing so. I did not do any trades or sales. At the end of the year, it lost value, so it isn't worth $3,000 USD anymore. I was wondering if I am supposed to report this on my IRS tax return? I see tax articles mentioning trades and sales, but not for those who just hold. And again, it did not go up in value. It went down. Do I need to report anything? If yes, which form?

Thank you
 
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Drmdcpa

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Only report trades and sales. They are viewed no differently than other stock market investments for this purpose.
 

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