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RE: Steem Taxes
I'm sorry but you're wrong @ats-david, you DO have to pay taxes on your stocks if you received them as income -- and the same is true of Steem, SBD and Steem Power.
I'm sorry but you're wrong @ats-david, you DO have to pay taxes on your stocks if you received them as income -- and the same is true of Steem, SBD and Steem Power.
STEEM isn't received "as income" and it's not classified as currency.
In any case, I don't even care - as I stated multiple times. I'll just report my Dollar earnings however I choose to report them. I'll let the bureaucrats figure out how to proceed after that. I'm not going to fret over it. I have better things to do.
The IRS clearly states that it considers receiving anything of value in return for performing tasks (aka work) as income. As I've said before, think "stocks".
Does this include receiving food for work performed?
IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply
https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance