What are the best tax harvesting strategies for cryptocurrency investors?

1 answers

• KAMS KAMSSep 16, 2024 · a year ago
  At BYDFi, we recommend a tax harvesting strategy that involves using a combination of specific identification and tax-loss harvesting. This strategy allows cryptocurrency investors to strategically sell specific cryptocurrencies to minimize their tax liability while also taking advantage of any losses to offset capital gains. It's important to keep accurate records of your cryptocurrency transactions and consult with a tax professional to ensure compliance with tax laws and regulations. Remember, tax harvesting strategies should be tailored to your individual circumstances, so it's always a good idea to seek professional advice.
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