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You mean like so? > Loss: 1 BAT > Profit: viewed a website Surely its only when you change one currency for another, right? I enjoyed a banana earlier today
by __MatrixMan__ 4y ago
You mean like so?
> Loss: 1 BAT
> Profit: viewed a website
Surely its only when you change one currency for another, right? I enjoyed a banana earlier today and didn't have to pay capital gains on its ripeness...
- TheDong 4y agoA banana is not a security, so the IRS does not care about the banana gaining value due to ripeness. Most cryptocurrency tokens are. If you buy a banana by selling some penny stocks, then you have to take notes on that sale to be able to pay taxes correctly. The parent commenter is claiming that, due to how cryptocurrencies are currently regulated, viewing websites would automatically trigger selling a "penny stock" like thing (a security), which is an event the IRS cares about.
- __MatrixMan__ 4y agoAh, well that's kind of dumb but you've described the dumb thing clearly, thank you.