Tax Guy: How does the IRS ‘wash sale’ rule work — and does it apply to cryptocurrency losses?

This post was originally published on this site

Stocks go up. Stocks go down. While they have mostly gone up so far this year, bull markets don’t last forever. And the price of a particular stock can fluctuate all over the lot regardless of the overall trend line.

When you make what turns out to be an ill-fated stock investment in a taxable brokerage firm account, the saving grace is that you can claim a tax-saving capital loss deduction (within limits) when you sell. Right? Not necessarily. In fact, the dreaded wash sale rule can disallow your tax savings.

Here’s…

Add Comment