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Can you explain how you chose land as the equivalent asset class? That doesn't even seem close to the ETH situation.
by pbiggar 9y ago
Can you explain how you chose land as the equivalent asset class? That doesn't even seem close to the ETH situation.
- rargulati 9y agoFor federal tax purposes, virtual currency is treated as property: https://www.irs.gov/pub/irs-drop/n-14-21.pdf https://www.irs.gov/pub/irs-drop/n-14-21.pdf
- mdorazio 9y agoYou seem to be misinterpreting what the IRS means by "property". It is equivalent to "asset", not to "land". It can mean land, but can also mean a stock, bond, capital good, etc. that you own. See [1] for example usage. [1] https://www.irs.gov/taxtopics/tc703 https://www.irs.gov/taxtopics/tc703