Don’t Forget Bitcoin At Tax Time

“And losses are really losses: capital losses can be netted against capital gains and excess losses can be deducted from ordinary income (up to $3,000 each year).”

via Don’t Forget Bitcoin At Tax Time.

Have you discussed Bitcoin with your accountant? That might be a strange conversation, like investing in Alex Hope. But why are you really interested in Bitcoin? Because of the blockchain. Because it allows you to make direct transactions. Forget the security weaknesses that the exchanges have brought to light now that Bitcoin has become popular, and definitely forget all the illegal activity that has made the news recently. Bitcoin is a valid currency. Whether it increases or decreases in value this year is irrelevant, right now, it is usable and affordable.

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