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Bitcoin Buyers Have to Take a Wild Guess on Their Taxes

  • Even accountants unclear on how to treat complex transactions
  • Many investors are declaring their holdings for the first time
Bloomberg business news
The Cryptocurrency Debate

If you thought trading Bitcoin was wild, try figuring out how to pay taxes on it.

Cryptocurrency investors are wrestling with spotty records, tangled blockchain addresses and rudimentary guidelines issued back in the ancient days of 2014. After last year’s boom in values, many people are likely disclosing transactions for the first time, adding to confusion.