Congress Plans to Close This Crypto Tax Loophole
Congress is currently planning some big changes to the tax code to help raise money for President Biden's $3.5 trillion social infrastructure spending plan. Among the changes in the House Ways and Means Committee's proposal is a change to the wash sale rule to include cryptocurrencies.
The wash sale rule prevents investors from selling and rebuying a security in order to show a tax loss on the investment. The proposal extends that rule to "commodities, currencies, and digital assets."
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Source Fool.com
