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#88 - Tax attorney Andrew Gordon answers the most common crypto tax questions.

Law of Code

CHAPTER

How to Achieve a Tax Deduction on Your Capital Gains

Say you bought into a project, spent thousands of dollars, now it's dead. How do you get your loss? We talked about how abandonment is kind of a gray area. With crypto, if you have a token that's dropped a lot in value, most tokens at least, you can jump on an exchange and sell it usually within minutes. And so it's typically possible with NFTs because they're non fungible.

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