CryptoTaxLossHarvestingStrategies|AvoidNFT TaxFines&MaximizeSavings
Didthebullmarketputyourportfolioin aslump?LetOpenLedgerhelpyou minimizeyourlosseswithtaxloss harvesting.
Justlikewitheverythinginlife,dips inthestockmarket,cryptocurrency, andthefinanciallandscapeare seasonal,andifyouholdonlong enough,they,too,willpass.
Butwhatifthere'salegal strategyyoucanuseto takethestingoffyour losses?It'scalledtaxloss harvestingandOpen Ledgerhasallthe informationyouneed. Taxlossharvesting isataxcodethatis usedtocompensate realizedcapitalgains againstrealized capitallosses.
Thismeansifyourlosses haveovertakenyourgains thisyear,youcanreceive upto$3000againstyour non-tradingincomeasa taxdeduction. NFTshave characteristicsthat makethemabetter optionthanstocks andbonds.
