475 (f) tax election

475 (f) tax election, Bitcoin taxation, Coin Tracker, Commodity Futures Trading Commission, Internal Revenue Service (IRS), Shehan Chandrasekera, US tax law

Loophole in U.S. Tax Law Could Allow Bitcoin Traders to Write off Unlimited Losses

A loophole in the U.S. tax law could allow qualified bitcoin traders to write off unlimited losses from their trading activities, according to an expert from crypto tax platform Coin Tracker. Traders, defined by U.S tax collection agency Internal Revenue Service (IRS) as people who trade substantially, regularly and continuously, are allowed a maximum capital […]

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