Bitcoin Forum
May 30, 2024, 06:44:58 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: If I spend the coins I paid too much for I don't owe any taxes on...  (Read 564 times)
Bit_Happy (OP)
Legendary
*
Offline Offline

Activity: 2114
Merit: 1040


A Great Time to Start Something!


View Profile
March 29, 2014, 03:19:52 AM
 #1

If I spend the coins I paid too much for, I don't owe any extra taxes on a $2 cup of coffee.
However, I still need to track the a $2 cup of coffee since I was "selling" a small amount of property at a loss, and that loss will help offset other gains.

So simply using "expensive" coins for daily spending will not help simplify accounting at all.
Welcome to The Brave New World.
Wanna get away?
Galt's Gulch Chile - To your freedoms
http://galtsgulchchile.com

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!