Post
Topic
Board Legal
Re: Bitcoin Tax Questions
by
prolixus
on 27/03/2014, 15:15:08 UTC
In order to track your bitcoin correctly you need to first build a spreadsheet that has every single bitcoin transaction you've ever made in it. Mined coins are treated as personal income in the amount of the fair market value of the bitcoin on day they accrue to you. That is also their basis. Whenever you sell some bitcoin or trade it for anything else that's a taxable event. Those events in 2013 are what you need to list on form 8949.