I saved 42.5% on Capital Gains taxes owed by doing a wash sale.

Today I spent hours and hours optimizing my taxes. I generated statements from Coinbase and Kraken then transferred the info to Excel. I sorted the purchases by cost basis, and sold every Satoshi that I had purchased after June 2021 above the current price. Then I instantly rebought, and at a slightly lower price even.

The result was 42.5% lower net gains, so 42.5% lower taxes on the gains.

Now, what am I going to do with the $20 I saved? Probably buy more BTC.

Submitted December 31, 2021 at 05:11AM by semajessej https://ift.tt/3eDddeR