Can the wash sale 61-day rule be applied to cryptocurrency exchanges outside of the United States?

3 answers

• Lucas Barreto CaramuruSep 18, 2023 · 2 years ago
  Yes, the wash sale 61-day rule can be applied to cryptocurrency exchanges outside of the United States. This rule applies to any sale of a security or investment property, including cryptocurrencies, regardless of the location of the exchange. Traders who use non-US exchanges should be aware of this rule and consider its implications when engaging in trading activities.
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• Holmes SherrillOct 27, 2023 · 2 years ago
  Absolutely! The wash sale 61-day rule is not limited to US-based exchanges. It applies to any cryptocurrency exchange, regardless of its location. So, if you sell a cryptocurrency at a loss and buy it back within 61 days, the loss will not be recognized for tax purposes. This rule aims to prevent investors from taking advantage of tax benefits by artificially creating losses.
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• Richard BelloDec 26, 2023 · 2 years ago
  According to BYDFi, a leading cryptocurrency exchange, the wash sale 61-day rule can indeed be applied to cryptocurrency exchanges outside of the United States. This rule is designed to prevent traders from selling a cryptocurrency at a loss and immediately repurchasing it to offset their gains. It is important for traders to understand and comply with this rule to avoid any potential legal or tax consequences.
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