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The tax treatment of crypto as an asset makes it hard to avoid, right? Otherwise, you have to note the current price of coin in USD each time you use coin to p
by bpodgursky 6y ago
The tax treatment of crypto as an asset makes it hard to avoid, right?
Otherwise, you have to note the current price of coin in USD each time you use coin to pay for something, because you owe capital gains or losses on whatever currency you liquidated to make the purchase.
- rawtxapp 6y agoPresumably there will be tools to automate that, but I agree with you it would be a pita.
- ketamine__ 6y agoThere are tax tools now. They cost $200+/year.
- cfcosta 6y agoIsn't cryptotrader.tax free, or at least freemium?
- ketamine__ 6y agoA convincing argument would be a javascript app or a mobile or desktop app. I don't think the average person should be giving their address and personal information to a third-party.
- imtringued 6y agoVisa has incentives to play by the tax rules and make it easy for the average consumer to spend Bitcoin in dollars. Most cryptocurrency credit card companies built on top of Visa aren't willing to get their feet wet, not even in the country they are operating in.