Questions regarding use of Bitcoin

[mesapsa]

If I have used a business to pay for items on the internet and the payment being sent is in bitcoin do I have to report this even though I never had actual control of bitcoin? Very vague however have never profited or received payments in any sort of cryptocurreny. 

[MaryK4]

Yes you must report the "trades"- essentially you purchased the bit coin at cost.  When you buy something, you are trading in the bitcoin for the amount of the item you are buying- the value of the bitcoin when that transaction occurs determines if you have a gain or loss.  You should receive a statement from your cryptocurrency company.