Crypto Investors Facing Losses Could Get IRS Guidance to Help

The IRS so far has offered limited help for investors claiming losses tied to cryptocurrency, but the agency is considering issuing broader guidance in the future, officials said Friday.

If taxpayers have facts similar to those at issue in a recent chief counsel advice on crypto loss claims, they will be considered but aren’t necessarily dispositive, said Christopher Wrobel, special counsel to the associate chief counsel at the Internal Revenue Service.

• For example, the IRS would consider if the crypto is no longer traded on an exchange or the taxpayer is locked out of accessing the currency due to ...