4 ms·
Is there any definitive source on this? I get lots of conflicting information from my brief google search. Equities and Cryptocurrencies are not treated the sam
by rank0 6y ago
Is there any definitive source on this? I get lots of conflicting information from my brief google search. Equities and Cryptocurrencies are not treated the same for tax purposes by the IRS. It seems like they are treated as property and do not qualify as a "fungible" asset like stock or USD.
- DennisP 6y agoI don't know and I haven't consulted a CPA, which is why I described it as an "idea" instead of a fact. I know technically how it works, but not how the IRS will view it. But to my amateur mind, treating it as property doesn't seem like a problem for this view. If you get a loan from a pawn shop, you're not selling them your property, you're just putting it up for collateral while you pay back the loan.