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03-25-2014, 11:50 PM
IRS: Bitcoin Is Property, **t Currency
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Are you struggling with how to deal with bitcoin on your tax return? Well, struggle ** more. The Internal Revenue Service on Tuesday an**unced that bitcoin (http://mashable.com/category/bitcoin/?utm_medium=feed&utm_source=rss) and other virtual currencies are treated as property, **t currency, for federal tax purposes.
The an**uncement, which was released as **tice 2014-21 (http://www.irs.gov/pub/irs-drop/n-14-21.pdf) [PDF], is the first official clarification on behalf of the U.S. government for dealing with bitcoin and other virtual currencies, at least from a tax perspective
See also: Everything You Need to K**w About Bitcoin in 2 Minutes (http://mashable.com/2014/02/11/mashable-explains-bitcoin/?utm_medium=feed&utm_source=rss)
The IRS previously classified issuing guidance to assist users of digital currency as one of its most serious problems in its 2013 Annual Report to Congress (http://www.irs.gov/pub/irs-pdf/p2104.pdf) Read more... (http://mashable.com/2014/03/25/irs-bitcoin-rules/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)
More about Tax (http://mashable.com/category/tax/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Virtual Currency (http://mashable.com/category/virtual-currency/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Irs (http://mashable.com/category/irs/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Startups (http://mashable.com/startups/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), and Apps Software (http://mashable.com/apps-software/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)http://feeds.feedburner.com/~r/Mashable/~4/Bk-qUBGzpz8
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Are you struggling with how to deal with bitcoin on your tax return? Well, struggle ** more. The Internal Revenue Service on Tuesday an**unced that bitcoin (http://mashable.com/category/bitcoin/?utm_medium=feed&utm_source=rss) and other virtual currencies are treated as property, **t currency, for federal tax purposes.
The an**uncement, which was released as **tice 2014-21 (http://www.irs.gov/pub/irs-drop/n-14-21.pdf) [PDF], is the first official clarification on behalf of the U.S. government for dealing with bitcoin and other virtual currencies, at least from a tax perspective
See also: Everything You Need to K**w About Bitcoin in 2 Minutes (http://mashable.com/2014/02/11/mashable-explains-bitcoin/?utm_medium=feed&utm_source=rss)
The IRS previously classified issuing guidance to assist users of digital currency as one of its most serious problems in its 2013 Annual Report to Congress (http://www.irs.gov/pub/irs-pdf/p2104.pdf) Read more... (http://mashable.com/2014/03/25/irs-bitcoin-rules/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)
More about Tax (http://mashable.com/category/tax/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Virtual Currency (http://mashable.com/category/virtual-currency/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Irs (http://mashable.com/category/irs/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Startups (http://mashable.com/startups/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), and Apps Software (http://mashable.com/apps-software/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)http://feeds.feedburner.com/~r/Mashable/~4/Bk-qUBGzpz8