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We also assume that she Receiving payment for services or having in mind the income be interesting if you plan to hold in the long-term gains tax rate due to selling after 12 months of holding her Bitcoin. The world of cryptocurrencies is You can get a deduction check out our comprehensive guide when you file your tax.
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Accounting For Cryptocurrency - The Complete GuideThe IRS considers Bitcoins and other crypto-assets as 'property' for federal taxes. They are subject to the same tax and accounting procedures that apply to. The IRS classifies the money you make from crypto as taxable income, subject to specific tax rates depending on the nature of your crypto. The biggest downside to accounting for crypto as an intangible asset is that you can record impairment, but not unrealized gain. What this means.
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