Do you have experience with tax loss harvesting? Should I do it? Should I not? Assume I have all losses in my portfolio, as I will continue to hodl my gains.For Reference:I initially purchased a good amount of various crypto in 2017. Let’s say $5k worth, for ease of numbers.Now let’s say through various losses, some gains, other losses, I now have a portfolio worth about $2000.Should I harvest these losses? Will it do me any good? I am not reporting any gains, as I do not have any. Is there any value to reporting these losses? Will this lower my federal/state tax implication, or does it simply reduce the amount owed on capital gains?Thank you in advance, hopefully this post helps others.
Submitted December 21, 2019 at 10:13AM
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