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How is this any different than selling a house for $1 million, putting that $1 million into a different house, and then the value of that new house falls to $10
by navigatesol 7y ago
How is this any different than selling a house for $1 million, putting that $1 million into a different house, and then the value of that new house falls to $100k?
If you sell the second house for $100k, you're on the hook for the tax on the net capital gains.
- colecut 7y agoI guess it's just more likely in crypto, and with crypto your money was a "currency" the whole time, not an asset.
- cortesoft 7y agoThis is the same thing that all currency traders need to deal with, and there are a ton of rules and regulations already in place with how to file taxes for it. https://www.investopedia.com/articles/forex/09/forex-taxation-basics.asp https://www.investopedia.com/articles/forex/09/forex-taxatio...