Are there any exceptions to the wash sale 61-day rule for cryptocurrency investors?

3 answers

• Mathieu Bertrand-CollinMay 17, 2021 · 4 years ago
  Unfortunately, there are currently no exceptions or special provisions for cryptocurrency investors when it comes to the wash sale 61-day rule. This rule applies to all types of investments, including cryptocurrencies. It is important for cryptocurrency investors to be aware of this rule and carefully consider the tax implications of their trading activities.
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• Bjerg VinsonJul 25, 2021 · 4 years ago
  Nope, the wash sale 61-day rule applies to all investors, including cryptocurrency investors. So, if you sell a cryptocurrency at a loss and repurchase it within 61 days, you won't be able to claim the loss for tax purposes. It's a rule that aims to prevent investors from artificially creating losses to reduce their tax liability. Make sure to keep this in mind when planning your cryptocurrency trades.
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• Paramanathan ThushanthanJan 18, 2023 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, there are no exceptions to the wash sale 61-day rule for cryptocurrency investors. This rule is designed to prevent investors from taking advantage of artificial losses for tax purposes. It's important for cryptocurrency investors to understand and comply with this rule to avoid any potential tax issues. Remember to consult with a tax professional for personalized advice based on your specific situation.
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