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Get your taxes done using TurboTax
No, it is an investment and as such, no gain is realized until its sale.
Bitcoin held as capital assets is taxed as property:
If you hold Bitcoin as a capital asset, you must treat it as property for tax purposes. General tax principles applicable to property transactions apply. In other words, just like stocks or bonds, any gain or loss from the sale or exchange of the asset is taxed as a capital gain or loss. Otherwise, the investor realizes ordinary gain or loss on an exchange.
‎June 6, 2019
8:23 AM