tacticalsauce_actual OP t1_j2eqnja wrote on December 31, 2022 at 6:45 PM Reply to comment by ffdarkmage7 in Crypto tax loss harvesting. by tacticalsauce_actual It does indeed need to be realized. Permalink Parent 1
tacticalsauce_actual OP t1_j2c3lyb wrote on December 31, 2022 at 3:36 AM Reply to comment by FourWayFork in Crypto tax loss harvesting. by tacticalsauce_actual My understanding is that wash sales don't apply to crypto as they are not currently considered securities. Besides that, everything else you said is exactly what I was wondering. I sort of make back the fees in April, but after that I'm not sure what I'm saving by doing this. I'm not sure if I'm thinking of this properly: Let's say I pay the lowest rate of 15%. If I make 15k next year, I would pay 2300 in taxes. So potentially, if I make 15k in profit, I'd avoid paying those taxes? Or is this incorrect? Permalink Parent 1
tacticalsauce_actual OP t1_j2c2zwu wrote on December 31, 2022 at 3:31 AM Reply to comment by [deleted] in Crypto tax loss harvesting. by tacticalsauce_actual Wash sales don't apply to crypto currently. Permalink Parent 1
Crypto tax loss harvesting. Submitted by tacticalsauce_actual t3_zzh2za on December 31, 2022 at 1:02 AM in personalfinance 13 comments 0
tacticalsauce_actual OP t1_j2eqnja wrote
Reply to comment by ffdarkmage7 in Crypto tax loss harvesting. by tacticalsauce_actual
It does indeed need to be realized.