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1) How do you deal with wash sales tax rules? http://www.investopedia.com/university/definitive-bitcoin-tax-guide-dont-let-irs-snow-you/definitive-bitcoin-tax-
by imaginenore 12y ago
1) How do you deal with wash sales tax rules?
http://www.investopedia.com/university/definitive-bitcoin-tax-guide-dont-let-irs-snow-you/definitive-bitcoin-tax-guide-chapter-1-trading-gains-and-losses-d-wash-sales-impossible-track.asp http://www.investopedia.com/university/definitive-bitcoin-ta...
2) How much % do you make a month from it?
- harryh 12y agoI'm not the OP but it doesn't sound like he's holding bitcoins for long periods of time so wash sale rules wouldn't apply.
- toast0 12y agoNot the OP, but the best way to deal with wash sale rules is to never sell at a loss. :) Other options would be 1) close out all positions around december and wait 31 days (and until the next year) to open positions again. 2) There's a mark-to-market election you could use to be not subject to wash sale rules, this seems like a complicated topic, but is probably worth investigating. 3) In line with always sell for a gain, you may be able to structure bitcoin lots like you would stock lots, and sell specific lots to avoid many wash sales.
- Legogris 12y agoNot the OP, but those specific rules are US-based and OP didn't state their nationality.
- deleted 12y ago[deleted]
- scintill76 12y agoYour link says "Bitcoin traders may be off the hook for now". Do you have a solid source saying that wash sale rules apply to Bitcoin?