Maintenance - We're currently working on things and you might experience some issues. Should be wrapped up soon!

This post has been de-listed

It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.

0
Do wash trade rules apply to crypto? Are we sure?
Post Body

As the year approaches an end, I'm beginning to worry about wash trade rules (US).

I had substantial gains in January that were realized. Then I bought back in and have since experienced substantial losses. I've been trading all along the way. If wash trade rules don't apply, I'll be able to say I had losses this year at current prices. If wash trade rules do apply, I'll have major gains that I won't be able to pay taxes on.

The people I've asked and the articles I've read seem to be in agreement that wash trade rules don't apply to crypto. Am I safe? Has anyone heard anything else? Are there professionals out there who do think the wash trade rule applies?

To be clear, I did ask my accountant, and he said the wash trade rule doesn't apply to crypto. But I'm still afraid that the IRS might say it does, and then I'll be screwed. So I'm asking if there are differing opinions out there I should be aware of.

Author
Account Strength
100%
Account Age
10 years
Verified Email
No
Verified Flair
No
Total Karma
39,538
Link Karma
7,684
Comment Karma
31,854
Profile updated: 1 day ago
Posts updated: 7 months ago
Crypto God | QC: ETH 597

Subreddit

Post Details

We try to extract some basic information from the post title. This is not always successful or accurate, please use your best judgement and compare these values to the post title and body for confirmation.
Posted
6 years ago