You still have to report it, but won't pay any taxes on it because it can be deducted from the cost of the asset.

TAX IN ITALY
Hi everyone, I understand that I pay taxes only if I withdraw from binance. But if let's say I invested 1000 euros, won 500 and then lost 200. If I withdraw 200 euros do I have to pay taxes on them? Even if they were the ones I put in at the beginning?