satoshipacioli on Nostr: Year-end tax moves for everyone: 1️⃣ Wash sale exemption for Bitcoin – Unlike ...
Year-end tax moves for everyone:
1️⃣ Wash sale exemption for Bitcoin – Unlike stocks, Bitcoin isn’t subject to wash sale rules. You can sell at a loss to offset gains or claim a deduction, then immediately rebuy to maintain your position while still reaping the tax benefit.
2️⃣ Make tax-efficient gifts – Gift up to $18,000 per person ($36,000 for couples) without affecting lifetime estate tax exemptions.
3️⃣ Roth conversions – Convert traditional IRA funds during low-income years to lock in tax-free growth at a lower tax rate.
4️⃣ Harvest gains/losses – Offset gains with losses or realize gains at the 0% rate to reset your cost basis and minimize future taxes.
1️⃣ Wash sale exemption for Bitcoin – Unlike stocks, Bitcoin isn’t subject to wash sale rules. You can sell at a loss to offset gains or claim a deduction, then immediately rebuy to maintain your position while still reaping the tax benefit.
2️⃣ Make tax-efficient gifts – Gift up to $18,000 per person ($36,000 for couples) without affecting lifetime estate tax exemptions.
3️⃣ Roth conversions – Convert traditional IRA funds during low-income years to lock in tax-free growth at a lower tax rate.
4️⃣ Harvest gains/losses – Offset gains with losses or realize gains at the 0% rate to reset your cost basis and minimize future taxes.