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Will this mean we can treat cryptocurrencies like fiat currencies when tax season comes?
by toastal 5y ago
Will this mean we can treat cryptocurrencies like fiat currencies when tax season comes?
- mjburgess 5y agocryptocurrencies arent currencies, so i'd guess not
- imglorp 5y agoThey are treated as commodities for tax purposes: when you sell them or use them to buy something, there is a tax consequence because you saw a gain or loss. https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies https://www.irs.gov/businesses/small-businesses-self-employe...
- UncleMeat 5y agoNo. The IRS doesn't operate on "well it seems like these are the same thing." And further, you have to pay capital gains on forex transactions anyway.