Selling Virtual Currency – What Are the Tax Consequences?
The IRS is clear that the sale of virtual currency is a tax realization event. This means that a person selling virtual currency will recognize gain or loss on the…
The Basics of Basis in Virtual Currency
The concept of basis is one of the most fundamental underpinnings of the United States tax system. Basis assigns a value to a taxpayer’s property or investment and is used…
What is Virtual Currency?
In the coming weeks we plan to release a series of articles examining the positions the IRS has taken related to virtual currencies. While the IRS’ view is still evolving…