I've been trying to figure out how Bitcoin is taxed before I trade. Does anyone know?
As per tax is concerned i don't think that the bitcoin is a currency on which tax is applicable. Unless someone converts the bitcoin into the real money the money is tax free. You need to understand that if the trading is between bitcoins then there is no way you could be charged tax instead you have to pay fees so that the transaction is being processed successfully and smoothly. I think this would help you to know the difference.