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Title: BTC legalities? Post by: TR4L on November 28, 2013, 03:20:11 AM I have been wondering about the legal side of BTC in America (Oregon to be more specific). Does anyone know where I could find some good info regarding this? I don't want to make a bunch of USD then find out I was supposed to pay taxes or something.
Title: Re: BTC legalities? Post by: PenAndPaper on November 28, 2013, 03:23:04 AM Maybe you should ask an expert. Forums aren't so reliable when it comes to law issues :P
Title: Re: BTC legalities? Post by: successquik on November 28, 2013, 03:27:30 AM Logic would dictate that any profits or losses you generate from buying and selling bitcoins would be treated as capital gains, either long or short term.
Of course, and absolutely, talk to your accountant for exact information but I can not imagine that such gains would not be viewed as a taxable event unless inside a qualified retirement plan. Just my two cents worth. SQ Title: Re: BTC legalities? Post by: MA5H3D on November 28, 2013, 03:37:55 AM Technically, you haven't made any USD gains until you sell. So, don't sell your bitcoins, use them.
Title: Re: BTC legalities? Post by: jojo69 on November 28, 2013, 03:40:59 AM bitcoins do not exist in physical space and therefore there is no terrestrial authority with jurisdiction
make war on any force that attempts to bring under its control realms of the mind |