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Are there any specific rules regarding the wash sale holding period for digital currencies?

avatarprabhudharan tDec 29, 2021 · 3 years ago3 answers

What are the specific rules that apply to the wash sale holding period for digital currencies? How long do I need to hold a digital currency before I can repurchase it without triggering a wash sale?

Are there any specific rules regarding the wash sale holding period for digital currencies?

3 answers

  • avatarDec 29, 2021 · 3 years ago
    According to the IRS guidelines, the wash sale rule applies to stocks, securities, and options. However, it does not specifically mention digital currencies. This means that there are currently no specific rules regarding the wash sale holding period for digital currencies. It's always a good idea to consult with a tax professional or accountant for specific advice regarding your digital currency transactions.
  • avatarDec 29, 2021 · 3 years ago
    As of now, there are no specific rules regarding the wash sale holding period for digital currencies. The wash sale rule primarily applies to stocks and securities. However, it's important to stay updated with any changes in tax regulations as they may impact digital currencies in the future.
  • avatarDec 29, 2021 · 3 years ago
    According to BYDFi, a leading digital currency exchange, there are no specific rules regarding the wash sale holding period for digital currencies. However, it's important to note that tax regulations are subject to change, and it's always recommended to consult with a tax professional for the most accurate and up-to-date information regarding wash sale rules for digital currencies.