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Anonymous Fri Dec 14 14:33:02 2018 No.12118784 [Reply] [Original]

Need tax advice.

So I pulled out 250k last year, paid taxes on that, and also paid taxes on the 100k I left in crypto. So going into 2018 I basically had already paid on that 100k.

I cashed out 120k total (mostly on like Jan 6th or so), and now my remaining crypto is about 40k.

If I trade all my coins I've been holding, then trade back into them (wash sale doesn't apply to crypto because its considered property, right?) then basically my taxable event amount going into 2019 would be

100k-40k=60k in losses on capital investment
120k in cash outs, so 120k-60k = 60k

So I'd only owe taxes on 60k "income"?

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