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RE: US Tax Considerations – Crypto to Crypto Trades: Trading Bitcoin and Altcoins
I am not US resident reading your post I have a question. Why cryprocurrencies are treated different from stock markets. Why tax is not charged as per stock markets? Nice post, got some knowledge about US taxation. Thanks.
@shirish5 thanks for the read and the comment. I appreciate it.
Currently cryptocurrencies are broadly defined as property, but no guidance has been issued regarding how the tax treatment should be. As a result, they fall into a very broad category for US Tax purposes. I would imagine with the way ICOs are exploding and with bigger businesses and banks (Microsoft, JP Morgan Chase, etc.) moving into the space, the issue will be forced in the very near future.
Maybe the people should force the issue of ending the IRS.
Thanks for the clarification.
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