Theory about how US tax rules suppress alts EOY

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Theory about how US tax rules suppress alts EOY Anonymous Thu Dec 31 20:00:47 2020 No.25368385 [Reply] [Original]

Crypto to crypto trades in the US are taxed as if you went Crypto > USD > Crypto. So anyone who's holding BTC would be retarded to trade it for anything before January 1st because the moment they do that would create a big tax liability, especially if they bought this year since it would be short term capital gains. However, anybody who has a loss in alts compared to their cost basis would be smart to sell out of it before the end of the year in order to be able to deduct it.

This artificial selling pressure would be removed exactly on January 1st.

>>	Anonymous Thu Dec 31 20:01:59 2020 No.25368405 alt season was a once in a lifetime thing kiddo, sorry.

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