/Sorry, America, but you have to pay taxes on your bitcoin — here's how

Sorry, America, but you have to pay taxes on your bitcoin — here's how



Because bitcoin BTC, -7.92% and other cryptocurrencies are seen as property by the U.S. government, capital-gains taxes apply to every transaction made. “It can be very tedious,” Phillips said. “I call it the coffee problem: Even if you were just buying a cup of coffee in bitcoin you would have to report …

Source: Sorry, America, but you have to pay taxes on your bitcoin — here’s how