Download or read book Bitcoin Taxes written by Dale Michelson and published by Createspace Independent Publishing Platform. This book was released on 2018-02-22 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bitcoin is a virtual currency that is currently worth, 1 Bitcoin = 10,849.99 USD. It is also a means of making payments across the world and is known as the first decentralized digital currency, since there is no main bank or administrator. With the popularity of Bitcoin across the US, the IRS has imposed taxes on the crypto-currency; and filing the taxes may not be as hard as it sounds. Clients are required to obtain information from sales they have made, including dates purchased and sold and the prices the Bitcoin was sold at. The dates determine if the sale was a short- term or long- term gain which in turn affects the amount of taxes clients will pay.