Bit Coin and Virtual Currency Tax Issues

Laurie Frederiksen on

Hi Everyone,

The IRS just released guidance on taxation of transactions involving BitCoin and other types of virtual currency.

Ira and I thought it was interesting. We thought some of you might find it interesting also:

IRS Guidance on Taxation of Bitcoin and Virtual Currency Transactions

Note that it is treated as property which has a basis.

But no, we have no way of automatically tracking the fair market value if you decide to hold it in your investment clubs.

Laurie Frederiksen
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