Are there any exceptions to the wash sales rules for digital currencies?

3 answers

• Nkuebe MolekoDec 23, 2021 · 4 years ago
  Yes, there are exceptions to the wash sales rules for digital currencies. According to the IRS, the wash sale rules do not apply to digital currencies if they are treated as property for tax purposes. This means that if you sell a digital currency at a loss and then repurchase it within 30 days, you can still claim the loss on your taxes. However, it's important to consult with a tax professional to ensure you are following the correct guidelines.
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• Huber HoodJul 26, 2020 · 5 years ago
  No, there are no exceptions to the wash sales rules for digital currencies. The wash sale rules apply to all types of securities, including digital currencies. If you sell a digital currency at a loss and then repurchase it within 30 days, you cannot claim the loss on your taxes. It's important to keep accurate records of your transactions and consult with a tax professional to ensure you are in compliance with the rules.
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• Blanton PrestonFeb 04, 2025 · 6 months ago
  According to BYDFi, a digital currency exchange, there are no exceptions to the wash sales rules for digital currencies. The wash sale rules apply to all transactions involving digital currencies, and if you sell a digital currency at a loss and then repurchase it within 30 days, you cannot claim the loss on your taxes. It's important to be aware of these rules and plan your transactions accordingly to avoid any potential issues.
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