When you do a hard reset on iphone 5, do you lose text data and photos?

When you do a hard reset on iphone 5, do you lose text data and photos?

If you do a full "hard reset" and this will remove everything and restore your iPhone to its factory settings.

So unless your data and photos were on you phone when you first took it out of the box, the answer is, Yes it will wipe your phone to the state it was, when it was first turned on.

If you mean holding the power and home buttons until it restarts then no. If you mean erasing the thing and setting it up as a new phone then yes.