Apologies in advance if this is a dumb question but if I only BOUGHT crypto this year (spring 2021 - brutal timing) and didn’t sell anything yet (portfolio in the red) do I still have to file taxes?

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You only report when you sell. Keep records when you purchase and the value/amount for when you do need to report if you are doing cold storage or transferring between online wallets.

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I reported the interest I earned on some crypto and stablecoins but didn't sell anything.

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Yes to echo KPMG1 you need a taxable event. If you bought crypto but haven’t sold whether it’s trading up or down doesn’t matter bc the fed can’t tax on “unrealized” gains. Once you sell if you make a profit you pay taxes (higher taxes if you hold for less than a year vs if you don’t sell your cryptos for over a year).

Use koinly app. It helps connecting different wallets and provide tax documents(paid version).

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