04-30-2020, 08:37 PM
Just learned how claiming losses on crypto works and it is pure evil.
<!-- SC_OFF --><div class="md"><p>If you lose 100% of an asset because it is lost or stolen, the latest tax law disallows you from claiming any loss whatsoever. But if you still have the coins and they have 90% of their value, you can sell them and claim a loss.</p> <p>What in the actual fuck? I guess I am going to go restock whatever worthless shitcoins I used to have so I can pretend that I never lost them and then sell them so I can show the IRS how I lost money on the coins that I lost. Fucking crazy.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>If you lose 100% of an asset because it is lost or stolen, the latest tax law disallows you from claiming any loss whatsoever. But if you still have the coins and they have 90% of their value, you can sell them and claim a loss.</p> <p>What in the actual fuck? I guess I am going to go restock whatever worthless shitcoins I used to have so I can pretend that I never lost them and then sell them so I can show the IRS how I lost money on the coins that I lost. Fucking crazy.</p> </div><!-- SC_ON --> Kind Regards R