MysticStorm
Thu Aug 29 2024
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6 answers
1462
Is cryptocurrency a wash sale?
Can you clarify for me whether cryptocurrency transactions are considered wash sales? I've heard conflicting opinions on this matter and I'm curious to understand the legal and tax implications of buying and selling cryptocurrency within a short period of time. Is there a specific time frame that defines a wash sale for cryptocurrency, similar to the 30-day rule for stocks? How does the IRS treat such transactions, and what steps should investors take to ensure compliance with tax regulations?
