After a tough year for crypto, you may be looking for ways to turn steep losses into possible tax breaks. The digital currency industry lost nearly $1.4 trillion in 2022 after a slew of bankruptcies and liquidity issues, including the collapse of the digital currency exchange FTX. Selling crypto is generally treated the same as security sales with a few exceptions. One of these exceptions is crypto is not subject to the ‘wash sale’ rules and there are a few others. Make sure that the crypto documentation that you provide to your tax preparer is detailed and includes a summary. If you have a large number of crypto transactions, i.e. more than 25, we recommend taking advantage of a software tool that will gather, calculate, and format your crypto activity for tax reporting. Using such a tool will minimize the fee that your tax preparer charges for crypto compliance. Koinly is a good choice but there are a number of tools available. Note the free plan Koinly offers does not include tax reports. If you choose Koinly, please contact us for a discounted license. https://koinly.io/features/