I'll offer you my 2 cents from what I know. Anytime you earn money whether it be through another form of currency and convert it to USD, the IRS wants their share. YOU are responsible for reporting that income. I'm new to it as well but I'm only using very small amounts of my money to learn with. Put it this way, look at how the government would know you were making tons of money on the stock market. And if you got filthy rich, you'd better believe they'd want to know how you got there. I would suggest seeking a tax professional to answer your questions.
I was kind of thinking the same thing. Once you make money, everyone wants a piece of it. I just don't understand if that's how it works or not. Seems like you'd have to pay tax right away?
For instance of stocks. You pay capital gains tax, and you pay to trade. The bitcoin sites you don't generally pay anything it's all free flowing.
Interested to hear any other points of views or experiences with more experienced cryptos.
Here's a good post for your answers.
https://steemit.com/money/@cryptotax/is-bitcoin-gold-is-taxable-in-the-u-s
Thank you!