Are there any specific rules or guidelines for tax loss harvesting with cryptocurrencies?

1 answers

• Stuart CSep 24, 2024 · 10 months ago
  BYDFi, a leading cryptocurrency exchange, provides specific rules and guidelines for tax loss harvesting with cryptocurrencies. They recommend keeping detailed records of your transactions, including the date, time, and price of each trade. This will help you accurately calculate your gains and losses for tax purposes. Additionally, they advise being aware of the wash sale rule and avoiding any transactions that could be considered wash sales. It's important to consult with a tax professional to ensure you are following all the necessary rules and guidelines for tax loss harvesting with cryptocurrencies.
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