Bitcoin Forum
December 08, 2016, 06:13:54 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: when will we see the first bitcoin real estate purchase? :-)  (Read 1379 times)
paulie_w
Sr. Member
****
Offline Offline

Activity: 420


View Profile
May 15, 2011, 05:51:28 PM
 #1

i'd love to speculate as to how this might be dealt with, especially in the united states.
1481220834
Hero Member
*
Offline Offline

Posts: 1481220834

View Profile Personal Message (Offline)

Ignore
1481220834
Reply with quote  #2

1481220834
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481220834
Hero Member
*
Offline Offline

Posts: 1481220834

View Profile Personal Message (Offline)

Ignore
1481220834
Reply with quote  #2

1481220834
Report to moderator
kiba
Legendary
*
Offline Offline

Activity: 980


View Profile
May 15, 2011, 05:53:22 PM
 #2

I suggest we homestead abandoned properties into bitcoin mining farms!

kidgorgeous
Member
**
Offline Offline

Activity: 75


View Profile
May 15, 2011, 07:00:06 PM
 #3

It would be dealt with just like any sale for something besides cash. It happens all the time, however tax authorities would have a hard time evaluating it. Its possible that they may treat the transaction as a gift rather than sale because arguably bitcoins aren't anything. In legal parlance, bitcoins may not be "consideration" http://en.wikipedia.org/wiki/Consideration. In which case the seller would have large tax debt as gifts are taxed at a high rate in the US.

Another possibility is that it maybe treated as an exchange for securities such as stocks or bonds, however bitcoins don't quite qualify as securities in the traditional sense so it will just have to be hashed out (excuse the pun) once somebody tries it. There was a legal review done by a yale law student about bitcoin not too long ago, he would be the best to ask.

1KHxCRniFNmS7ChiPqaewmokuCABk2PRQn
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
May 15, 2011, 07:15:28 PM
 #4

It would be dealt with just like any sale for something besides cash. It happens all the time, however tax authorities would have a hard time evaluating it. Its possible that they may treat the transaction as a gift rather than sale because arguably bitcoins aren't anything. In legal parlance, bitcoins may not be "consideration" http://en.wikipedia.org/wiki/Consideration. In which case the seller would have large tax debt as gifts are taxed at a high rate in the US.

Another possibility is that it maybe treated as an exchange for securities such as stocks or bonds, however bitcoins don't quite qualify as securities in the traditional sense so it will just have to be hashed out (excuse the pun) once somebody tries it. There was a legal review done by a yale law student about bitcoin not too long ago, he would be the best to ask.

Do you mean buyer? I know they are all kinds of f'd up, but would they really try to get taxes out of someone in a year that they gave everything away? I would assume they'd just try to take their bite out of the receiver.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Ryland R. Taylor-Almanza
Hero Member
*****
Offline Offline

Activity: 812



View Profile
May 15, 2011, 07:29:02 PM
 #5

I'll go into the deep jungles within my city's baranca, build a tiny 1-room house out of 2x4's, and put it up for sale today.
BioMike
Legendary
*
Offline Offline

Activity: 1257


View Profile
May 15, 2011, 07:34:20 PM
 #6

I guess it's still on the market: http://bitcointalk.org/index.php?topic=1617.0
smartazz
Newbie
*
Offline Offline

Activity: 21


View Profile
May 15, 2011, 07:43:56 PM
 #7

Several conditions will have to be in place:
1. The value of a BTC is considerably low.
2. One person has a LOT of Bitcoins.
3. The house doesn't cost a lot.

http://bc.x14.eu/sigs/f8ae58c9.png (http://bc.x14.eu/s/103)
xf2_org
Member
**
Offline Offline

Activity: 70


View Profile
May 15, 2011, 10:05:32 PM
 #8

Someone should buy a Detroit home for bitcoins, just because.

You can find plenty of houses for under $1000 there.

nelisky
Legendary
*
Offline Offline

Activity: 1554


View Profile
May 15, 2011, 10:24:47 PM
 #9

I guess it's still on the market: http://bitcointalk.org/index.php?topic=1617.0

Yep, it still is on the market Wink
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!