Accumulate Losses

The more losses you can rack up, the better it is for the investor in the long run.

“You can harvest an unlimited amount of losses and carry them forward into an unlimited number of tax years”.

Because the wash sale rule doesn’t apply, investors can harvest their crypto losses more aggressively than with stocks, because there’s no baked-in waiting period.

Quickly buying back the crypto is a key part of the equation. If timed correctly, buying the dip enables investors to catch the ride back up, if the price of the digital coin rebounds.

But be caution that thorough bookkeeping is essential.

Be warned, “Without ...