Cryptocurrency Q&A
Who pays taxes on Bitcoin?
Who pays taxes on Bitcoin?
Andrea
Sun Dec 01 2024
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7
answers
976
I'm wondering who is responsible for paying taxes on Bitcoin transactions. Is it the buyer, the seller, or both? And how does the government even keep track of these transactions for tax purposes?
7 answers
Tommaso
Mon Dec 02 2024
The IRS applies the same principles to cryptocurrency as it does to other forms of property.
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CryptoNinja
Mon Dec 02 2024
Cryptocurrency is considered property by the IRS.
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Riccardo
Mon Dec 02 2024
This implies that any transaction involving buying, selling, or exchanging it is taxable.
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Alessandro
Mon Dec 02 2024
This means that cryptocurrency owners must report any gains or losses on their tax returns.
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ethan_lewis_journalist
Mon Dec 02 2024
Such events are usually treated as capital gains or losses.
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