Post
Topic
Board Legal
Re: Bitcoin Is Property Not Currency
by
amspir
on 05/04/2014, 18:33:47 UTC
I am 99.9% sure the IRS has no system in place for crawling the blockchain, linking addresses to real people, or linking transaction times / amounts to bitcoin prices at that time.  Hell i doubt they even have a division formed for this.  In fact, given their reticence with virtual currencies as a whole, they are at basement level at best.

It doesn't need to.  That's why you need to keep tax records for 7 years.   You provide the records if they challenge your claims on the return.