Apparently the IRS will be treating BTC as property versus currency. Luckily, there will be an app for that. What, exactly, does that mean though?
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Apparently the IRS will be treating BTC as property versus currency. Luckily, there will be an app for that. What, exactly, does that mean though?
Comments are closed.
It means that Bitcoins are just like anything else. You have to pay taxes on that shit. It’s actually a pretty favorable treatment for Bitcoin. The alternative was to treat it as a currency, which would mean that long term gains would be considered regular income. This way, they will be taxed at the lower, cap gains rate.