Can the wash sale rule be used to offset capital gains from cryptocurrency trading?
Peeyush kumar YadavAug 28, 2020 · 5 years ago1 answers
Is it possible to use the wash sale rule to offset capital gains from cryptocurrency trading? How does the wash sale rule apply to cryptocurrency transactions?
1 answers
- rafel0Oct 21, 2021 · 4 years agoAs an expert in the field of cryptocurrency trading, I can confirm that the wash sale rule can be used to offset capital gains from cryptocurrency trading. The wash sale rule applies to all types of securities, including cryptocurrencies. However, it's important to note that the IRS has not provided specific guidance on the application of the wash sale rule to cryptocurrencies. Therefore, it's advisable to consult with a tax professional or accountant to ensure compliance with tax laws and regulations.
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