The Wash Sale Rule & Cryptocurrency

What is exactly the Wash Sale? Selling at a loss entails disposing of the asset at a fair market value below that of your original cost basis.

The wash sale rule generally disallows tax deductions for losses from the sale or other disposition of stock or securities if you buy the same asset (or a substantially similar one) within 30 days before or after the sale.

Millions of Americans are involved in crypto, whether it be simply buying & selling, or more advance strategies like mining, staking, DeFi, metavenfures, and more. Many have made thousands of dollars with crypto.

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