Name: Crypto Tax Play - Wash Sale rules do not apply!
Uploaded: 2021-07-15T14:38:18+00:00
Duration: 3 min 19 s
Description: There’s a tax play with crypto that you can use to your advantage right now. Do you know about it? It has to do with a concept called the Wash-Sale Rule. This states that if an investment is sold at a

2 years ago

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There’s a tax play with crypto that you can use to your advantage right now. Do you know about it?

It has to do with a concept called the Wash-Sale Rule. This states that if an investment is sold at a loss and then repurchased within 30 days, that loss cannot be claimed for tax purposes. HOWEVER cryptocurrency isn’t considered a security by the SEC or the IRS, so Wash Sales Rules do not apply!

That means you can sell now, offset your gains, and buy right back in.

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