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- Nov 30, 2023
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if this one has already peaked and i start bleeding out... that's fine. you win some, you lose some. 

I owe the IRS 40k on crypto trades but I have only lost money. What can I do?the thing about this is... if you make multiple trades, technically you cashed out at your peak and then everything after that is just you losing your money. and you owe taxes on the cashout at ur peak even if you lose all your money after that. (cashout = converting to USD to swap coins)
by u/RealDwolfe in tax