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Note the FBAR language: United States persons are required to file an FBAR if .. . The aggregate value of all foreign financial accounts exceeded $10,000 at an
by nostromo 14y ago
Note the FBAR language:
United States persons are required to file an FBAR if .. . The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-(FBAR) http://www.irs.gov/Businesses/Small-Businesses-&-Self-Em...
However, if I have my bitcoins here in the US, does that count as a foreign financial account? Or is it more akin to having a local store of gold. I doubt the IRS has any real guidance for these questions yet...
- mahyarm 14y agoSince ownership of bitcoins is having the private key that controls the address on a globally distributed general ledger, what the hell does location mean in this case?