Paying #taxes On #bitcoin — Everything You Need to Know
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Paying Taxes On Bitcoin — Everything You Need to KnowPaying taxes on Bitcoin is becoming a priority for individuals in the US after the IRS announced on July 2nd, 2018 that one of their core campaigns and focuses for the year is the taxation of virtual currencies.Because Bitcoin and other cryptocurrencies are treated as property in the eyes of the law, they are subject to capital gains and losses rules just like other forms of property — stocks, bonds, real estate etc.This guide walks through the fundamentals and the things you need to keep in mind when paying taxes on Bitcoin.What is a Capital Gain / Capital Loss?A capital gain is simply the rise in value of a capital asset. In the world of Bitcoin and crypto, you incur a capital gain when you sell or trade a coin for more than you acquired it (...)