Post
Topic
Board Legal
Re: Bitcoin startup taxation
by
subwoofer12
on 20/06/2015, 05:22:42 UTC
who in their sane mind has keep track of eeevery single transaction ever?

I don't think anyone does this in practice, its simply not possible and extremely unreasonable. Like ayesha said:

the irs has been pretty vague on the issue leading me to believe that there will be plenty of court cases to come.

Probably for my scenario I'll just get a custom script written up that pulls the btceusd_avg price once daily, and then multiples by the number of bitcoins made as profit. Hopefully the IRS finds this acceptable  Tongue