You'll need to sign in or create an account to connect with an expert.
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.
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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
chazzsmith2002
New Member
cparke3
Level 4
grannysue1996
Level 1
JFAnSC
Level 2
praxisknight
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.