IRS is planning to extend "wash sale" rule to Bitcoin and all crypto. The "wash sale" rule disallows claiming losses on any asset sold and re-bought within 31 days. It will kill day trading through new and substantial tax liability for active traders of Bitcoin and other crypto.

IRS is planning to extend "wash sale" rule to Bitcoin and all crypto. The "wash sale" rule disallows claiming losses on any asset sold and re-bought within 31 days. It will kill day trading through new and substantial tax liability for active traders of Bitcoin and other crypto.

on September 17, 2021

https://www.forbes.com/sites/shehanchandrasekera/2021/09/13/cryptocurrency-may-soon-be-subject-to-wash-sale-rules/?sh=35d5a17159d3

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