Tax,
Banking
May 25, 2022
Make lemonade, Crypto loss means IRS tax loss
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
With the crypto market falling off a cliff, there are big losses to claim on your taxes, right? Crypto markets are notoriously volatile, but even so, the recent activity has been unsettling. Whether you are a buy and hold investor or an active trader with high frequency moves, it is nerve-wracking and may not be over. For some, it can be downright devastating, particularly if you had put all your nest eggs in Terra UST or Luna. Yet even those may bounce back, as Luna...
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