Tag: report your Bitcoin transactions

How To Report Bitcoin Income On Tax Return

The IRS has released guidance on how to treat bitcoin and other virtual currencies for tax purposes. Here’s what you need to know. What is Bitcoin? Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called […]

How To File Bitcoin Taxes Turbotax

What is Bitcoin? Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million. Bitcoins are created as a reward for […]