It's been a tough year for crypto investors as they've watched the price of their digital assets plummet.
Bitcoin, for example, is trading about 65% off its all-time high, which it hit only nine months ago.
If you bought a cryptocurrency when it was on the rise and sold your holding this year -- or are considering doing so -- there are at least a couple of ways you may be able to reduce the sting of your loss.
You can use a capital loss in crypto to offset any capital gain you've realized this year -- even if it comes from the sale of another security or another property, such as a stock or a house.
For example, say you bought bitcoin at $50,000 in February 2021, then sold it recently at $24,000, which is roughly where it is trading today. You'd have a long-term capital loss of $26,000, because you held the investment for at least a year.
Then say you also booked a $10,000 capital gain by selling a long-held stock in a taxable brokerage account (i.e., not a tax-deferred account like...
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