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Are cryptocurrency ransom payments tax deductible?

July 4, 2021 by DIGIT
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Any ransom payments made in cryptocurrency are taxed as property rather than currency, so be aware of the U.S. tax implications.

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  • bitcoinBitcoin(BTC)$89,627.00-2.50%
  • ethereumEthereum(ETH)$3,038.96-3.67%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.04-1.85%
  • binancecoinBNB(BNB)$883.91-1.74%
  • usd-coinUSDC(USDC)$1.000.01%
  • solanaSolana(SOL)$133.20-3.46%
  • tronTRON(TRX)$0.2874810.51%
  • staked-etherLido Staked Ether(STETH)$3,039.56-3.66%
  • dogecoinDogecoin(DOGE)$0.139394-4.80%
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  • bitcoinBitcoin(BTC)$89,627.00-2.50%
  • ethereumEthereum(ETH)$3,038.96-3.67%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.04-1.85%
  • binancecoinBNB(BNB)$883.91-1.74%
  • usd-coinUSDC(USDC)$1.000.01%
  • solanaSolana(SOL)$133.20-3.46%
  • tronTRON(TRX)$0.2874810.51%
  • staked-etherLido Staked Ether(STETH)$3,039.56-3.66%
  • dogecoinDogecoin(DOGE)$0.139394-4.80%