Quote from: MAbtc on December 28, 2013, 01:38:42 AM

Quote from: TERA on December 28, 2013, 12:32:23 AM

Do bitcoin profits count for taxes if you only have usd on an exchange but haven't withdrawn?

Yes. But without that USD entering your bank account, how will IRS know?

Question is, will you report each trade? Wink

Hell, BTC-E doesn't even require dox.....

(ahem, I mean, pay your taxes......)

Cheesy

This is pretty tricky because I've sent lots of coin between exchanges and arbitraged btc and alt coins. So I'll try telling my accountant "I bought some btc at btce and sent it to mcxnow where I traded worldcoin. Then I bought litecoin and sent to cryptsy where I bought ppc and sent it back to btce. I now have a portfolio of usd, btc, ltc, ftc, and xpm which have weekly fluctations inbetween some value and no value."