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Title: IRS treatment of Capital Gains Post by: Happy Hodler on December 18, 2013, 09:41:08 PM If I set up 2 different accounts on Coinbase, 1 for Hodling and 1 for Trading, will the IRS consider it the same "pool" for Capital Gains computations?
How do other folks deal with the "First-In First-Out" rules for computing capital gains? Thanks! Title: Re: IRS treatment of Capital Gains Post by: francisp on December 18, 2013, 09:53:28 PM To my knowledge, the IRS has not yet determined if Bitcoins will be considered currency or commodity, so it is not known if capital gains taxes will apply to Bitcoins that appreciate (or depreciate).
More information: https://en.bitcoin.it/wiki/Tax_compliance (https://en.bitcoin.it/wiki/Tax_compliance) Title: Re: IRS treatment of Capital Gains Post by: Jcw188 on December 18, 2013, 10:08:47 PM Man this is tough since there is no guidance yet. The safest thing to do is pay income tax on all your income. I would probably not treat it like a stock either, but that's just me being conservative.
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