A wash sale is a sale of a security at a loss and repurchase of the same or substantially identical security 30 days before or after. Wash sale regulations prevent people from claiming losses in one tax year and immediately buying back into the stock the following tax year. You can still make the sale, however you will not be able to deduct the capital loss.
Since the IRS regards cryptocurrencies as property rather than stocks and securities, wash sales are not calculated/applied by Lumina. Please consult a tax professional for more information.
Note: Lumina is intended to serve as an informational and assistive tool only. Lumina is not intended to substitute for professional tax, accounting, audit, or legal advice. Information provided on Lumina is subject to change without notice. Lumina is not responsible for the accuracy of your tax, audit, or legal compliance. Please consult a licensed professional for financial, tax, and legal advice.
