Ripple CTO Used Stock Sales for Tax Loss Harvesting

David Schwartz, Ripple’s Chief Technology Officer, recently sold some of his stock holdings at a loss to take advantage of tax-loss harvesting. He plans to repurchase these same stocks after a 31-day waiting period in order to offset potential losses. This strategy aligns with IRS regulations, which prohibit deducting losses on the same stock if they are bought back within a month.