Bitcoin Forum
April 25, 2024, 07:04:30 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Bitcoin Forum > Economy > Marketplace > Services > Using Bitcoin to Buy Things Could Trigger IRS Tax Bill
Pages: [1]
« previous topic next topic »
  Print  
Author Topic: Using Bitcoin to Buy Things Could Trigger IRS Tax Bill  (Read 160 times)
ihnattm (OP)
Sr. Member
****
Offline Offline

Activity: 616
Merit: 269


A decentralized registry for unique assets


View Profile
October 22, 2017, 01:58:04 PM
 #1
Hi !
Using Bitcoin to buy everyday things, such as a burger, could trigger a tax bill from the IRS due to cryptocurrency being considered property. However, there is potential relief on the way in the form of new legislation.
 Shocked Shocked Shocked
http://bitcoinist.com/using-bitcoin-buy-things-trigger-irs-tax-bill/

  ▄▄█████████                                                                                   
 ██▀       ██                                                                                   
██         ██                                                                                   
██         ██                                                                                   
██         ██▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄   
██         ██▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀██▄
██         ██                                                                                ▀█▄
██         ██                                                                                 ██
██         ██                                                                                 ██
██         ██         ▄██████▄    ▄██████▄     ████████▄     █████████   ▀██▄  ▄██▀           ██
██         ██       ▄██▀    ▀▀   ▄██▀  ▀██▄    ██     ▀██▄   ██            ██████             ██
██         ██       ██▀          ██      ██    ██      ▀██   ██▄▄▄▄▄▄       ▀██▀              ██
██         ██       ███          ██▄    ▄██    ██      ▄██   ██            ▄████▄             ██
██         ██        ▀██▄▄▄▄██    ▀██▄▄██▀     ██▄▄▄▄▄██▀    ██▄▄▄▄▄▄▄    ██▀  ▀██            ██
██▄██████████          ▀▀▀▀▀▀      ▀▀▀▀▀▀      ▀▀▀▀▀▀▀▀      ▀▀▀▀▀▀▀▀▀   ▀▀▀    ▀▀▀           ██
███▀                                                                                          ██
██                                                                                            ██
▀█▄                                                                                           ██
 ▀██▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ██
   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀██▀▀▀▀▀▀████
                                                                                    ██       ▀██
                                                                                    ██       ▄██
                                                                                    ██      ▄██
                                                                                    ███████▀▀   
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █
█ █ █
█ █
█ █
█
█
*   Collect with Trust   *
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █ █
█ █ █
█ █ █
 █ █
 █ █
█
█
1714028670
Hero Member
*
Offline Offline

Posts: 1714028670

View Profile Personal Message (Offline)

Ignore
1714028670
1714028670
Reply with quote  #2
1714028670
Report to moderator
1714028670
Hero Member
*
Offline Offline

Posts: 1714028670

View Profile Personal Message (Offline)

Ignore
1714028670
1714028670
Reply with quote  #2
1714028670
Report to moderator
1714028670
Hero Member
*
Offline Offline

Posts: 1714028670

View Profile Personal Message (Offline)

Ignore
1714028670
1714028670
Reply with quote  #2
1714028670
Report to moderator
Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714028670
Hero Member
*
Offline Offline

Posts: 1714028670

View Profile Personal Message (Offline)

Ignore
1714028670
1714028670
Reply with quote  #2
1714028670
Report to moderator
1714028670
Hero Member
*
Offline Offline

Posts: 1714028670

View Profile Personal Message (Offline)

Ignore
1714028670
1714028670
Reply with quote  #2
1714028670
Report to moderator
1714028670
Hero Member
*
Offline Offline

Posts: 1714028670

View Profile Personal Message (Offline)

Ignore
1714028670
1714028670
Reply with quote  #2
1714028670
Report to moderator
eckmar
Legendary
*
Offline Offline

Activity: 1878
Merit: 1038


Telegram: https://t.me/eckmar


View Profile
October 22, 2017, 03:40:26 PM
 #2
Quote from: ihnattm on October 22, 2017, 01:58:04 PM
Hi !
Using Bitcoin to buy everyday things, such as a burger, could trigger a tax bill from the IRS due to cryptocurrency being considered property. However, there is potential relief on the way in the form of new legislation.
 Shocked Shocked Shocked
http://bitcoinist.com/using-bitcoin-buy-things-trigger-irs-tax-bill/

Don't withdraw btc to bank and then buy a burger with a card. Use BTC atm or find guy on localbitcoins.com, get cash, buy burger. Problem fixed.
Pages: [1]
  Print  
Bitcoin Forum > Economy > Marketplace > Services > Using Bitcoin to Buy Things Could Trigger IRS Tax Bill
 « previous topic next topic »
 
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!