3 ms·

My initial thought is that they'd be able to deduct the loss since the bitcoin is being treated as property and not currency. The trade of property for property

by jstalin 13y ago

My initial thought is that they'd be able to deduct the loss since the bitcoin is being treated as property and not currency. The trade of property for property is done at market value and any subsequent trade is as well, leading to a loss.

uptown 13y ago
Wouldn't it be treated as depreciation, which typically has limits?
- jstalin 13y ago
  Unlikely, bitcoin isn't something you'd capitalize (and depreciate) because there's no clear "lifetime" to the asset.