Let’s start with this: you are not cheating when you use a loophole.
The Merriam-Webster dictionary defines “loophole” as a means of escape.
In its second definition of loophole, Merriam-Webster says it’s a small opening to admit light and air or to permit observation.
When it comes to tax losses on bitcoin and other cryptocurrency, you’ll find in this article an escape from a tax-loss rule that does not allow you to deduct a tax loss. Yes, you read that right! The tax code has rules that don’t allow current deductions for tax losses.
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