ST Alpha - "Crypto wash sales are in the bill." (Reading a Post)

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Posts: 153

Crypto wash sales are in the bill.

Posted by spamlet Oct 28 '21, 13:57

Whoo boy, I'm going to stop reading r/tax this time next year.

Responses:

I don't see the mark-to-market tax but there is a surcharge of 5% of income >$10m and 3% of income >$25m -- nm - spamlet Oct 28, 14:02 1
- Yeah, the billionaire tax with mark-to-market was a non-starter. -- nm* - znufrii Oct 28, 14:06
There's no wash rule for crypto right now? -- nm - ty97 Oct 28, 13:57 5
- Nope. It's a thing in the crypto community to sell on drops and rebuy to generate losses. - spamlet Oct 28, 13:58 4
  - "Treat us like a currency! ... No, not like that" -- nm - Reagen Oct 28, 14:00
  - I mean, yeah, if there was no wash rule I'd do it too! - ty97 Oct 28, 13:59 2
    - "no tax, only grow" -- nm - Reagen Oct 28, 14:03
    - 2022 -- nm - spamlet Oct 28, 14:01

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