Post
Topic
Board Bitcoin Discussion
Re: TurboTax advertises Bitcoin as a tax dodge!
by
Shinobi
on 22/07/2011, 00:17:44 UTC
the real question is how is income from selling them taxed?  long- or short-term capital gain?  which is why i think the client needs to be able to send specific coins - so those bitcoin which were mined more recently, and have a higher cost of production [for miners], can be exchanged.

Interesting idea.

in any case, it's remarkable to see an entity like turbotax deal with Bitcoin - it'll do us good.  i doubt the information they're putting out about it will remain unchanged, however.

I think it's quite irresponsible of Intuit to even recognize Bitcoin, much less comment on its tax implications. Their lawyers should know better.