Bitcoin taxes: Understanding the rules and how to report cryptocurrency on your return

Author: External Author | | Categories: Accounting Services , Business Consulting , Cryptocurrency , Virtual Currency Taxation

Bitcoin seems to be everywhere these days. From its mysterious origins in 2008, it has grown into a widely accepted currency, used for everything from investing to shopping to employees' wages.

But many Bitcoin users don't realize that buying/selling, exchanging, and even using Bitcoin to pay for things has tax implications. Yes, you read that last phrase right. In some cases, just spending your Bitcoin could be considered a profitable investment - and taxable.

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Original Article Source Credits:  Business Insider  ,

Article Written By:  JANET BERRY-JOHNSON

Original Article Posted on:  DEC 10, 2020

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