Bitcoin Looks Like a Tech Startup to the IRS
The Internal Revenue Service has decided that Bitcoins are more like shares of a tech company than the money in your checking account, at least when it comes to taxes. Anyone who spends Bitcoins (or Dogecoins, for that matter) will now need to pay capital-gains taxes based on the difference between the value of the coins at the time they were acquired and their value at the time of the transaction.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Who Has the World's No. 1 Economy? Not the U.S.
- Trump Falls on Ceremony. He Should Stop Trying.
- Sorry, President Trump. You're No Chester A. Arthur.
- Russia Is Using Marxist Strategies, and So Is Trump
- Trump's Numbers Are Really, Really Bad
- Nafta Gets a Welcome Reprieve
- Goodbye and Good Riddance to the Islamic State