Bitcoin Taxes 2016: Accurately Reporting Bitcoin Usage

Taxes and Bitcoin BitcoinistTaxes and Bitcoin Bitcoinist

While tax law has not changed since last year, it’s still important to review how Bitcoin works for taxes because it’s required by law in the U.S. Accurately reporting taxes for Bitcoin can be tricky since it involves calculations which treat it as a currency as well as capital asset which can have either capital gains or losses over time depending on when you acquired the Bitcoin. The number of Bitcoin users has grown significantly since 2015 so it’s very important that the community is educated on how to treat their Bitcoin taxes.  This year the tax filing deadline is April 18 th.

Also read: Bitcoin Taxes: The Professionals, The Digital Currency Council


Daniel Winters, MS Taxation, MBA

Global Tax Accountants is owned by Daniel Winters, who has over 12 years of tax experience and holds both a Masters of Taxation and an MBA.  Daniel has written a course for accountants about Bitcoin and has been interviewed by Bloomberg and Thomson Reuters.  He has presented at the San Francisco Blockchain

Read more ... source: TheBitcoinNews

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