/biz/ - Business & Finance

wash sale rule does not apply to crypto!!!

you can deduct losses up to $3000 a year until total losses is met

so if when you sold you had a realized 9000 loss then for 3 years you would get a 3000 tax deduction

how can you use this?
>you regret buying a shitcoin or got in ATH
just sell and buy something more stable/promising because you would get the tax deduction and the gains from holding a better coin

any anon care to chime in or am I being autistic because this could be a huge advantage with the IRS on our side

>>5365283
Me too OP, I was sleeping during that spike down to the low 500s

Lesson learned, never going to sleep during a blowout sale again

>>2623894
There's clearly a giant organized effort to spread panic and make people sell, it's making me hold my bags tighter. The only thing I don't know is why - whether a group is trying to crash the market so they can buy in cheap, or if they hate certain cryptos enough to try and destroy the projects.

90% of biz this week is just FUD shitposting about ETH especially, someone wants to crash it with no survivors, question is why?

Literally me since I started to invest in Crypto

How do you cope with all the missed opportunity and the feeling that fortunes are made and you are maybe missing the good train?