[2016-01-07] How the USA taxes Bitcoin • IHB News™

[anirgu]

Since Bitcoins are not presently considered to be a currency, the normal barter rules apply – just as if the taxpayer was exchanging goods and services for property, such as gold bullion. Thus, if a taxpayer received Bitcoins in exchange for services, the taxpayer must report service income up to the fair market value of the Bitcoin received. 

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