Koinly's head of tax says one of the biggest mistakes people make is failing to declare realized losses when filing their tax returns.
occurs when an investor sells at a loss to offset the amount of capital gains tax owed from selling profitable assets.
"A lot of people might think ‘oh, I've not made any money on crypto, so it's not taxable this year,’ but you can actually get that benefit. So that's probably one of the biggest strategies people can use.""The IRS was quite clear that you can't claim a loss on something if its value has gone down and you haven't actually sold out of it."
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