IRS: Bitcoin Is Property, **t Currency

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IRS: Bitcoin Is Property, **t Currency

IRS: Bitcoin Is Property, **t Currency

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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