I.R.S. declares Bitcoin/crypto as property and taxable.
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Found this as an interesting read today over at Gizmodo. Thought I would pass this along to all here in the U.S.
http://gizmodo.com/irs-declares-bitcoin-is-property-and-must-be-taxed-as-s-1551321725
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Seems legit, however, i forsee a massive headache for the irs surrounding this, since most people will not ask for the tax id number it will be impossible for them to prove anything beyond a reasonable doubt in court
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Headache is the least of it. They now just opened up the opportunity that we can now write off all of our losses, depreciation, expenses, as a legitimate business. What tax loopholes might this leave open. I have yet to transfer anything physically into my possession. Well except for the stuff I traded with Bongo…