How are transactions using Bitcoin (or another virtual currency) treated under U.S. tax law?

    Research Problem 4. How are transactions using Bitcoin (or another virtual currency) treated under U.S. tax law? Some background on Bitcoin can be found at bitcoin.org/en/faq. Locate the current IRS guidance on this question. In addition, locate the American Institute of CPAs Comment Letter on virtual currency (issued in May 2018). After reading these materials, provide a one-page written summary for your instructor.

     

    use this website: bitcoin.org/en/faq

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