Ripple (XRPUSD)

[GreedyAgorist]

Gotcha; my goal is to pay a million in taxes next year. : - )

On the other hand, I like to keep my Schedule D simple; hence my aversion to wash sales. So far, I have only been buying XRP, not selling. If Grayscale had a trust for it, like it does with BTC, ETC, and ETH*, then I could play it, even occasionally day trade it, in my Roth IRA. I did take advantage of Ripple’s interest in Moneygram by buying and selling options on MGI, sometimes even holding the stock; indeed I may get more “put” to me next week. So far that has been the closest I have come to “trading XRP” using a traditional broker. Meanwhile, I earn interest on my XRP, initiating six-month loans every 1st and 15th of the month with CredEarn. That will end up on a Schedule B.

That is another point of government-generated annoyance: the fact that they raise the Social Security threshold every year, but the Schedule B requirement has not been raised from $1500. I would expect to meet that higher threshold—at least I would try—but still, the fact that COLA’s and inflation only apply some places sometimes is a reminder of how arbitrary it all is. They occasionally raise the IRA limits, yet education accounts for your kid are still stuck at 2k, which makes no sense, since inflation impacts higher education as much as anything.

*Glad I did not touch that one when it came out ... ouch!