Bitcoins Ruled As Taxable Property by the IRS | Tax Stories of the Jacksonsville Princess
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The US Government has recognized Bitcoins which is good in a way but at the same time they have decided to view them as property, making them taxable. If they had decided that the virtual currency actually was a currency then a tax could not be placed on them when they gain in value. Some view this as making the currency legitimate, and a good thing.
The fact that they can now be taxed reduces the interest for some who see the risk in the fluctuations in value and don’t want to take on the additional tax risk. Spending them … Read the rest
The post Bitcoins Ruled As Taxable Property by the IRS appeared first on 2010 Taxes to 2014 Taxes.

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