IRS: Bitcoin Is Property, **t Currency
 

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 and other virtual currencies are treated as property, **t currency, for federal tax purposes.

The an**uncement, which was released as **tice 2014-21 [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


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 Read more...

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