Tax loss harvesting deadline extension?

Discussion in 'Taxes and Accounting' started by Cuddles, Dec 27, 2018.

  1. Cuddles

    Cuddles

    I'm trying to dump some assets but unfortunately may not be able to do so by end of year (document I need expires today and holder won't let me sell). Is there a way to extend the deadline past end of year?
     
  2. Robert Morse

    Robert Morse Sponsor

    What type of asset?
    Is the asset owned by an entity like an LLC?
     
  3. Cuddles

    Cuddles

    crypto, and no
     
  4. Robert Morse

    Robert Morse Sponsor

    Can't help with that one,
     
  5. Overnight

    Overnight

  6. Cuddles

    Cuddles

    They appear to be treated as stocks for tax purposes. What is the answer if it were stocks?
     
  7. Robert Morse

    Robert Morse Sponsor

    I expect equity trades a based on trade date. You should try these guys. https://greentradertax.com/
     
  8. Jack1960

    Jack1960

    There is no way to extend
     
  9. newwurldmn

    newwurldmn

    There might be a way to sell and amend you 2018 return to account for the loss. This works for foreign currency only. It happend to a friend of mine who lost a lot of money on an fx trade and was able to apply the loss against previous year gains.

    You will need to consult a competent accountant. Bob’s recommendation is probably the best.
     
  10. Robert Morse

    Robert Morse Sponsor

    I was once told an LLC can go back a few years with losses, but was not able to find that. That would not help him, as the asset was not owned by an LLC. If true for others, it would allow them to take the loss in 2019, but go back and get a refund if all of 2019 is a loss.
     
    #10     Dec 28, 2018