IRS Declares Bitcoin Is Property and Must Be Taxed As Such

IRS Declares Bitcoin Is Property and Must Be Taxed As Such

With April 15 looming, plenty of bitcoin barons have been wondering how to treat their newfound crypto-fortunes. Does it count as capital gains? Is it taxed like a currency? Is it taxed at all? Well, on Tuesday, the Internal Revenue Service announced definitively that Bitcoin is property and much be taxed as such.

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