Quote from: mel2000 on December 25, 2013, 04:28:21 PM

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...if you are looking for a tax deduction keep in mind that using your BTC for a down on a house may be treated for tax purposes like selling the BTC - if you have a large gain it may create taxable income that you are not thinking about..... just a thought.

How could a home down payment from BTC profit be anything other than a taxable gain (in USA)?

This is a good question and one I hadn't fully explained. A down payment (in the US) is NOT eligible for a tax deduction. My main concern was in qualifying for the loan with my BTC as equity.

The reason I wanted to buy a house with my new-found wealth was to get the tax break on the interest throughout the year. I'm sure my tax accountant will have me use a few other tax breaks such as a Roth IRA to help me keep some of my money.