Cryptocurrency Could Quickly Be Topic To Wash Sale Guidelines

The extremely controversial Infrastructure invoice is being checked out by the Methods and Means Committee. The Committee of Methods and Means is the chief tax-writing committee of america Home of Representatives. The Committee has jurisdiction over all taxation, tariffs, and different revenue-raising measures and quite a few different revenue-generating applications.

Methods and Means abstract report revealed on September 13, 2021 talks about subjecting cryptocurrency to the wash sale rule. Cryptocurrencies are usually not topic to the wash sale rule in the meanwhile. This loophole has allowed crypto holders to generate tax losses (with out economically

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