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What if I buy something with appreciated Bitcoin? Is this a taxable event? If the IRS considers Bitcoin property, am I just bartering with Dell when I buy a lap
by hnburnsy 10y ago
What if I buy something with appreciated Bitcoin? Is this a taxable event? If the IRS considers Bitcoin property, am I just bartering with Dell when I buy a laptop with Bitcoin?
- pc86 10y ago> Is [buy[ing] something with appreciated Bitcoin] a taxable event? According to the IRS, yes. > If the IRS considers Bitcoin property, am I just bartering with Dell when I buy a laptop with Bitcoin? Yes, so if you buy 1 BTC for $750, the price increase dramatically and you buy a top-end gaming system from Dell (lol) then you're bartering and the excess value is taxable.