This year I bought a home. In order to generate the cash for my downpayment, I had to sell some stock at a bad time, resulting in $20,000 capital loss.
I think if I had some other stock that was I could sell at a gain, I could offset the capital gains with the capital loss. But I do now have any stocks that are doing good right now. Instead, I have some BitCoin.
If I sell my BitCoin at a higher value than I bought it, does that count as capital gain? Can I offset $20,000 of that capital gain against my capital loss from stock this year?
i.e. can I sell some BitCoin at $20,000 higher than I originally bought, buy it back again, and not pay tax on the $20,000 of profit I made from BitCoin since I had $20,000 of loss from stock market this year?
