I bought SOL with a cost basis of 200 two years ago. It’s sitting in Solflare. If I stake it, it becomes a taxable event. I’m down 70%. So would those losses carry over $3,000 per year until gone? I haven’t made any trades this year so I don’t have any profits to deduct the loss from.
Tax is a scamm but is better than the cactus rape you will get if you get audit. Regulations are coming and with this you best believe all the crypto wallet address will be audited. We wanted this,we can’t hide our addresses the moment you move your money to a kyc exchange they know who you are. People have been getting away with paying no taxes for a while , if regulations come that’s gonna end. Best to pay up than get screwed later.