Is there a wash rule for crypto

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I believe this argument is elsewhere in the Code, they both law and fact. Two things about the Gantner taxpayers from harvesting losses while maintaining their economic interest in changes the future may bring.

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The IRS classifies virtual currency.

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What are the Wash Sale Rules for Crypto?
The IRS wash sale rule does not currently apply to cryptocurrency because it considers virtual currencies to be property rather than securities. The wash sale rule prevents a taxpayer from deducting losses relating to a wash sale. Digital assets (such as cryptocurrency) are currently. Cryptocurrency is exempt from wash sale rules. The IRS classifies virtual currency as property. This means crypto follows the same rules as.

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Does It Apply to Crypto? The accounting methods you use to determine cost basis could also impact your tax loss harvesting strategy. Helpful Resources. If the wash sale rule is introduced to cryptocurrency, investors will need to carefully track the dates they bought and sold their coins if they wish to re-enter the market while still claiming their capital losses.