I bought some tokens and also approved them through Uniswap, but those tokens have now turned out to be a rug pull. Koinly is still calculating that I am holding them, and it shows that I need to pay taxes on them.
If I tag them as “Mark as Spam,” will that count as a loss for tax purposes?strong text
Normally, you have to dispose of an asset to take a loss. However, if there is no liquidity and no expectation of future gains then it is my understanding that a capital loss can be claimed. There are a few ways to do this in Koinly.
If you don’t want to create a manual transaction then you could probabaly send the scam coins to a different wallet that is not in Koinly. This will automatically generate the capital loss. If it doesn’t, you will simply edit the transaction and update the “worth” to show the scam coin value as zero. Make sure that you also update the description to clarify exactly what happened.
Thank you so much for answer, If i send RUG.NO Liqudity tokens to other wallets now then can i claim capital loss for 2023 Tax ? my scams token i bought in 2023 and calculating 2023 tax in 2024 ?
one more question that when i swap my eth to other crypto which is my buying TRX, why koinly showing capital gain for that TRX ?
Hi @Waqas_ahmad
Please reach out to our support team to help you with this - https://koinly.io/contact/
