Bitcoin : Question about taxes
Now I understand that (in the US) the IRS wants to tax your gains on Bitcoins. So here is my question, let’s say I bought $1000 worth of Bitcoins and over a year’s time the value has gone up significantly. Instead of selling them like a stock or a currency trader, I have made numerous small purchases with it and spend it all over the course of 1 year. Every purchase is done on a different day with a different Bitcoin value. Does the IRS seriously want me to itemize every single transaction? How does this work?
Bitcoin
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority.
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