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Yes, the IRS can tax bitcoin and other cryptocurrencies. What you need to know

Source: CNN Business

Jeanne Sahadi, CNN Business//September 9, 2021//

Yes, the IRS can tax bitcoin and other cryptocurrencies. What you need to know

Source: CNN Business

Jeanne Sahadi, CNN Business//September 9, 2021//

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El Salvador’s adoption of as legal tender may have been a watershed moment for . But in the United States, even though you can use crypto to buy and sell products or services, don’t think for a minute that makes it just like cash — at least not if you want to avoid trouble with the .

Virtual currencies are taxed as property, or as an investment, when you sell them. To make matters more confusing, using them to buy something technically counts as selling.