Post
Topic
Board Bitcoin Discussion
Re: TurboTax advertises Bitcoin as a tax dodge!
by
LeonGeeste
on 21/07/2011, 17:24:26 UTC
Same in most parts of europe.

...

So, I sell some, to pay and expand, and keep some fo which I dont pay income tax until I sell them and get "real" currencyl.

Real and not currency totally in the definition of the law here Wink

yes.  if you keep them they're not taxable, but if you sell them for the currency of your country, they are.

Are you sure?  The IRS pages linked above suggest that merely receiving bitcoins would count as barter income and so is taxable at its market exchange rate to dollars Sad