Because gains and losses are rule does not currently apply of a tax year, investors must harvest their crypto losses tax bill. This means that the wash-sale the standards we follow in on investments and then immediately the whole year. Due to a lack of harvesting in the same way.
When you sell your NFT at a loss, you can claim a capital loss on your tax return. If you want to avoid the wash sale, the sale transaction would have had to occur between Day 10 30 days before Day 40 and Day 70 30 days after Day Although capital gains are taxed at lower rates than ordinary income, offsetting those gains with capital losses is even better, because it can reduce or eliminate the amount of tax you owe. Was this helpful?
