All of these questions and more are answered in depth in this video. The regulatory environment is complex by its very nature, but you will have a solid understanding after watching this half hour video. In this video I pull directly from IRS guidance to inform you of how it views cryptocurrency, helping you to "know your enemy" and build strategies around that knowledge.
Join the best cryptocurrency community on the planet: https://cryptoanswers.net
Main IRS Doc: https://www.irs.gov/pub/irs-drop/n-14...
$600 Bill Proposal: https://coincenter.org/pdf/CTFA.pdf
bitcoin.tax resource: https://bitcoin.tax/
E-commerce Taxation: http://www.investopedia.com/universit...
Donation taxation: http://www.investopedia.com/universit...
Gift taxation: http://www.investopedia.com/universit...
Taxing Lost/stolen coins: http://www.investopedia.com/universit...
Tax fraud: http://www.successtaxrelief.com/blog/...
My initial video on the bill protecting Bitcoin transactions:
https://www.youtube.com/watch?v=8x8QR...
-=Donation Wallets=-
Ether: 0x2580e51643897d7f217E7850B66C88e630212693
Bitcoin: 1Bn8o4HQof19LM7t2667J7SU9LXfKqFgEd
This should not be taken as investment, tax, or legal advice. We do not represent any government nor are we agents of any government. Be sure to discuss your options with a qualified advisor and CPA before filing your taxes for FY 2017.
