Should I report taxes for my crypto delisting?
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Hi, I am in a very difficult situation. Crypto.com delisted some of my low-value cryptocurrencies, which I can't move or transfer. So what can I do now? Do I need to report these on my taxes?
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Your tokens are frozen now so you can't transfer or trade them. So in this case your options are very limited:
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Check the withdrawal deadlines again, as they usually provide the deadline to withdraw.
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Check if you can manually withdraw the coins, as some exchanges offer some time window to withdraw the delisted coins and transfer them to a compatible wallet.
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If the above options will not work, then consider it as a capital loss and report this on Form 8949 and Schedule D (Form 1040).
And about the reporting, definitely you need to report such events, and for the next time, try to avoid dependence on exchange decisions.
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