Virtual currency transactions may be taxable. For federal tax purposes, the IRS has announced that virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency. This includes determining the fair market value of virtual currency in U.S. dollars as of the date of payment or receipt, as well as any gain or loss incurred. For more information, go to https://ift.tt/OX5nhX.
Submitted March 22, 2019 at 11:24AM
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