Learn how to use Crypto Tax Loss Harvesting to save on your IRS bill with Zac McClure, founder of TokenTax [www.tokentax.co].
We hope you are enjoying the extra time with family and we know taxes are the last thing you want to think about, but we have to remind you that you have only 3 days left to harvest your Crypto Losses.
The only benefit to 2018 Crypto Losses is that you can take these losses and use them to offset your tax liability. With that said, you cannot do this just by looking at the negative signs in your crypto portfolio tracker. While those losses may feel real, they are not real until you exit the position. In fact, no loss or gain is realized until you trade out of it. Until then, you are only looking at Unrealized Losses.
Once the ball drops on December 31, 2018, you lose the opportunity to make these unrealized losses real in the eyes of the IRS.
On this episode, we break down what Tax Loss Harvesting is, how it works, and why 2018 is the best time for Crypto Investors to use this strategy.
Use the code "COINGAMMA" to get 10% off any TokenTax plan.
Visit tokentax.co for more information.
Connect with Zac and TokenTax
- Website - www.tokentax.co
- Twitter - https://twitter.com/TokenTax
- Zac on Twitter - https://twitter.com/ZacharyMcClure