How Cryptocurrency is Taxed / Jun20

IRS reminded that virtual currency transactions are taxable by law just like transactions in any other property.

Forbes.com clarifies: The bitcoin and other crypto assets have just about the best possible tax treatment available for long-term investors. According to the IRS’ official guidance on crypto taxation, crypto is taxed as “property,” which is just a fancy way to say it’s taxed like a stock. If you buy bitcoin and hold it for more than a year, you pay long-term capital gains when you sell.

IMPORTANT: Do not use this article to make tax or investment decisions, this information may not apply to your situation. Consult your tax expert.)