So how is this added up? If I make a thousand trades and come out X amount of dollars ahead, can I just use the final amount for reporting?
Relevant wiki article:
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http://en.bitcoin.it/wiki/Tax_complianceThank you for that. Should have thought to search for it myself.
(Yes, I know that they'd have to pay taxes on the dollar value on any products or services rendered, but this is pretty much impossible for the IRS to enforce)
But I be so askeert a dem revenuers.