henry_rose_scientist
Sat Jun 08 2024
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5 answers
567
What is the 30 day rule in crypto?｜The 30-Day (Bed and Breakfast) Rule - When the same type of token is disposed of and subsequently re-acquired within 30 days, the cost basis of the disposal is matched with the re-acquired tokens using the earliest purchased tokens first.
Could you please explain what the 30-day rule in the realm of cryptocurrency entails? I've heard about the Bed and Breakfast Rule, but I'm not entirely clear on its implications. When an individual disposes of a certain type of token and then promptly re-acquires it within a 30-day period, how does this rule affect the cost basis of the transaction? Does it involve matching the cost basis of the disposed tokens with the newly acquired ones, and if so, how does the system prioritize the earliest purchased tokens in this process? Thank you for clarifying this for me.
Elena
Sat Mar 30 2024
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5 answers
1204
What is the bed and breakfast rule in crypto?
Good afternoon, could you please explain what the 'bed and breakfast' rule is in the context of cryptocurrency? I've heard this term mentioned a few times but have yet to understand its exact meaning and application. As a newcomer to the crypto world, I'm eager to learn about the rules and regulations that govern this fascinating field. Could you provide a simple yet comprehensive explanation? Thank you in advance for your assistance.
