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12165758 No.12165758 [Reply] [Original]

Selling Dec 31, rebuying Jan 1. Should I be cashing out to USD wallet or all the way to bank account on Coinbase?

>> No.12165774
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12165774

>>12165758
Capital doh

>> No.12166007

>>12165758
if you're american you don't need to cash out to claim capitol losses.

>> No.12166067

>>12166007
this you can just trade alts that are losses in dollar terms for btc or other alts and it will trigger

>> No.12166102

>>12165758
DONT DO THIS! You will trigger free rider tax treatment I.E if you buy within 30 days after selling you will not be able to claim the losses again.
It could lead to a situation where you lost money on the year but you still owe taxes because your losses got disallowed.
T.tax accountant

>> No.12166116

>>12166102
nope. wash trading rules don't apply to crypto. try again

>> No.12166175

>>12166102
Wont be rebuying the same crypto anyways. And yeah nice try faggot but gtfo
T. Dad works at Nintendo