How to Use taxes to Reduce Your Bitcoin Price
Real Estate and BTC investor Grant Cardone shares how to use little known law to tax harvest a loss on Bitcoin and reduce your tax basis. This is not financial or tax advice – do your own research. This is how Grant understands the current tax ruling regarding BTC and The Wash Rules
Assume you bought BTC at Cost basis: $95,000 and then Sold for: $75,000
Realized loss: $20,000 (long-term or short-term depending on your holding period)
Current IRS Rules (February 2026)
Wash sale rules do NOT apply to direct cryptocurrency holdings like Bitcoin. The IRS treats BTC as property, not a security (per Notice 2014-21 and ongoing guidance). You can sell at a loss, claim the full deduction, and immediately repurchase the same asset without disallowance.
✅ You can write off / claim the full $20,000 capital loss this year, even if you buy back immediately at ~$75,000.
Offsets other capital gains dollar-for-dollar.
Up to $3,000 against ordinary income married couples
Excess carries forward indefinitely….unless you are taking against other gains
New cost basis on repurchased BTC: $75,000 (purchase price).
Hypothetical: If Wash Sale Rules Applied you could not do this…
(As you asked "under wash rules"). The $20,000 loss is disallowed this year.
You write off $0 currently. The disallowed loss adds to the new BTC's cost basis.
If repurchased at $75,000 → new cost basis = $75,000 + $20,000 = $95,000.
Loss defers until you sell the new BTC (without repurchasing within 30 days).
Typical round-trip cost (sell 1 BTC + buy back 1 BTC) for a low-volume user:
Sell (taker/market order): ~0.60% → ~$450–$570
Buy (maker/limit order): ~0.40% → ~$300–$380
Total fees: ~$750–$950 (≈ 0.5%–0.6% round-trip effective)
Tips to minimize:
Total economic cost (fees only, ignoring price movement): $750–$1,000 round-trip on Advanced Trade vs. $2,000–$6,000+ on simple Coinbase.
This is not tax or financial advice. Rules can change, large transactions may trigger audits or Form 1099-DA reporting, and fee tiers vary. Consult a CPA/tax professional familiar with crypto and review your specific Coinbase fee tier before trading.
#success #money
Cameron Long
Cameron is a seasoned CFO and CPA with 31 years in finance. He created the AI Trader's Playbook to help everyday investors use AI to find high-confidence trades — in minutes, not hours.
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May Allah bless you
𝖶𝗁𝖺𝗍𝗌𝖠𝗉𝗉𝗇𝗎𝗆𝖻𝖾𝗋┼17174811429👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼监控不是传感器🙏🙏thanks for taking the time
man❤❤
Is meet Kevin right that you keep buying and selling to charge real estate investors in your funds one percent fees every time you do this?
It’d be nice if you could answer if you’re screwing us investors over with these ridiculous fees that you do?!
Are you getting the returns he said you would or less?
@brentevans5226it’s not that good like 4-6 percent.
I lost $30,000 with bitcoin.
𝖶𝗁𝖺𝗍𝗌𝖠𝗉𝗉𝗇𝗎𝗆𝖻𝖾𝗋┼17174811429👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼监控不是传感器🙏🙏thanks for taking the time
man❤❤
Brother “I,ll like you to make Great decision — lets build something solid.
You suck at leading……
𝖶𝗁𝖺𝗍𝗌𝖠𝗉𝗉𝗇𝗎𝗆𝖻𝖾𝗋┼17174811429👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼监控不是传感器🙏🙏thanks for taking the time
man❤❤
Thanks for the video. Can you share more insights with GRO92K?
$GRO92K$ ETF soon? WOW
“Great decision — lets build something solid.
Basic tax loss harvest
𝖶𝗁𝖺𝗍𝗌𝖠𝗉𝗉𝗇𝗎𝗆𝖻𝖾𝗋┼17174811429👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼监控不是传感器🙏🙏thanks for taking the time
man❤❤
Thanks for the informative video 😍👏… but I think building wealth depends mostly on determination and the right approach. Some people work for 40 years to have a small income in retirement. Others are making fortunes with the right money and guidance. I would like to thank Mr. Matt Lucas for educating me about cryptocurrencies.
HOW DO I GET ON THIS ?????
HE IS MOSTLY ON TELEGRAM, ✊✊✊
@Mattyexpect✊⭐✍
Thanks for the info… I’ll contact him as soon as possible. I also want to receive good information and not lose any more.👊
First of all, Coach Matt Lucas, thank you for your advice!
I do have a question. For someone with less than $100,000 to invest, How would you recommend we enter the market. I’m looking to study some traders and copy their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?
Having a mentor is always very important when it comes to trading, without a proper mentorship, trading can be very frustrating
Big thanks to Kaitlyn Brightbill ~ really appreciate her. she’s honestly one of the smartest and most supportive mentor I’ve ever learned from. Her mindset and the way she explains things really helped me a lot
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 950k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $321k ROI, and this does not include capital gain.
You’re spot on. I actually made the switch to a momentum-heavy strategy a couple of years back after my self-managed portfolio started lagging. I was holding too many “stable” large caps that were essentially dead money. Kaitlyn helped me transition into a mix that included XMMO and some high-conviction growth plays. My account went from roughly $210k to over two million in less than two years just by staying on the right side of the trend.
You guys seem confident and grounded on this. how can i reach out??
is this why you want to sell your house and jet
This is going to be a different bull market. With Xaidut$ coming to scene. Ben basing off previous speculative markets. I can see 300,000 next bull run.🎉🎉🎉🎉🎉
Is it too late to buy Xaidut$ at $0.90?
Let’s go Xaidut$ so much potential to go to the moon.
Set to Xaidut$ 2$
Xaidut$ is looking juicy. 🥭
OMG crypto whales are buying Xaidut$$ 😮
I guess I am ultra risk lover. Even though I don’t hold meme coins, I only hold Xaidut$$ and ETH . Fingers crossed 🤞 🤞
Don’t let Elons’s Xaidut$$ pass you by. This is a monumental moment in history, and you don’t want to be left out of the loop. Get in on the ground floor now!
Once Xaidut$ breaks key resistance at $1.2 and $1.5 it’s flying much higher!! 🚀
You changed my life for the better. I have learnt a world of Information and valuable skills from you Grant Cardone! Keep up the great work. Much love and appreciation from Canada.