[Originally Published on October 17, 2017]
By Michele Ferri and Jonathan Lurie
To learn more about the investment implications of cryptocurrencies, you can refer to Bitcoin: The Op, a Solari Report with Harry Blazer.
The only certainties in life are death and taxes, and while you can’t take your bitcoin to your grave, the taxman certainly wants to take a cut every year before that. Cryptocurrency is a new enough concept that much of the tax treatment is either not fully formed or not widely understood. Over the course of this article, we hope to cover some general rules and trends regarding the United States’ federal tax treatment of cryptocurrencies. This article will give you step by step guidelines for how to handle the taxation of your, or your clients’, cryptocurrency.