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RE: Tax efficient portfolio switch on market slumps
Interesting issue. But if I sell some crypto with loss, then it wont really reduce my taxes. So how could your solution help?
Im a bit confused to tell you the truth.
ps.
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Yours
Piotr
You offset the loss from any capital gains you have made in the tax year. That's how it works in most countries.
In the scenario when you swap crypto when the price is high, you make a high price transaction and may be liable for capital gains tax. It's always better to swap coins around when the price is low (assuming the relative price between 2 coins you're swapping is the same....)
thank you for your valuable explanation @voluntary-io
yours
Piotr