Replying to Avatar Sahil Chaturvedi

Example:

2020 I took 20k loss. I can offset 3k against income

2021 I took 10k cap gain. I can offset 3k against income, and then I can “consume” 10k of my cap losses (out of 20k) to offset the 10k gain

Simple
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plebiANON 1y ago

You are missing the point here. Your capital losses are capped at $3k per year against your income. Your capital gains are infinity. Waiting for “next year” to maybe get a chance at offsetting losses you took in the current year is preposterous.

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Sahil Chaturvedi 1y ago

Ok I hear you. We’re both right, I was just missing your original point.

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Sahil Chaturvedi 1y ago

I’m “right” in the sense that I was arguing with a strawman, someone who was saying you should be worried about selling bitcoin / not holding zero dollars, which wasn’t your original post

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plebiANON 1y ago

Fair enough. And I get your point about washing capital gains and losses to any amount. 🤝