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Schedule d of irs income tax form 1040 allows day traders to claim $3,000 in capital losses. Cryptocurrency trading in 2017 reportedly left one reddit user with a $50,000 debt to. This article will cover how to complete irs form 8949 to report your cryptocurrency transactions and determine your taxable totals.
Day trading requires capital, and many day traders borrow funds to make the purchases, a practice known as “leveraging” or trading “on margin.” they make a series of trades to maximize their return, counting on selling at a profit that will cover the cost of the loan and still make a profit.
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