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

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.

Where did I lose money?

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

If you only take capital losses, you are capped at subtracting $3k from your total AGI. I’m not sure what you’re missing here. If you took a $50k capital loss, it would take 17 years to recognize it. Most people have income and capital gains/losses, and that’s why you want the losses to be subtracted from your income. You lost money.

Yes. If you only took losses, you are capped at $3k. That is the problem.

The IRS caps your capital losses at $3k. That is absolutely nothing for any real investment portfolio in a down year. They don’t even let you take your actual losses when you have them, but they will get every nickel out of the inflation boosted gains when you have them. The system is so broken and absurd.

I’m a big zapper. Some people are spreading bad rumors.

Nostr is never down 😎 (zap me u fucks)

Yep

jack ü

nostr:note1wcfktxkj00qcshggq6pte32qcmlwsudp5rkh8h88d4e0k5nwamgqnywvs2

GM! Go to the gym.

If you've added the Bitcoin Atlantis federation during the conference, you should get your funds off there now that it's over. They typically shut down when they're conference specific.

Luckily we built a handy swap to self custodial lightning button for that. Just swap then delete.