What is the wash sale time frame for cryptocurrency investors?

1 answers

• May 11, 2022 · 3 years ago
  At BYDFi, we recommend cryptocurrency investors to be cautious of the wash sale time frame, which is typically 30 days. This means that if you sell a cryptocurrency at a loss and repurchase the same or a substantially identical cryptocurrency within 30 days, the loss will be disallowed for tax purposes. It's important to consult with a tax professional or accountant to ensure compliance with tax regulations and to understand the specific rules that apply to your jurisdiction. Remember, tax laws can vary, so it's always best to seek professional advice.
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