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0 pointsgruez6y ago0 comments

Can't they do a wash sale to create losses? That's how tax loss harvesting works.

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Not an expert, but afaik you'd have to separate the buyback by 1 month from the wash sale for it to be valid/legal. You'd be kicking yourself if the price skyrocketed during that window.

Edit: https://help.cointracker.io/taxes/us-taxes/do-wash-sales-app...

xur176y ago

> There is some debate as to whether wash sales apply to cryptocurrency sales, however the IRS specifically states that wash sales only apply to stocks and securities. Since the IRS has also issued guidance that cryptocurrencies are property, CoinTracker does not calculate/apply wash sales.

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andrethegiant6y ago

Not an expert, but afaik you'd have to separate the buyback by 1 month from the wash sale for it to be valid/legal. You'd be kicking yourself if the price skyrocketed during that window.

Edit: https://help.cointracker.io/taxes/us-taxes/do-wash-sales-app...

xur176y ago

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