The Taxation of Bitcoin: How the IRS Views Cryptocurrencies Article (Faculty180)

cited authors

  • Liedel, Deidre A


  • Cryptocurrencies such as Bitcoin have gained prominence since they were first introduced in 2008. While cryptocurrencies have grown in use by consumers and business, government regulators such as the Internal Revenue Service have been slower to respond to this technological creation. It is important to understand how the IRS views cryptocurrencies, so individuals and businesses can properly report their use of cryptocurrencies in transactions. The IRS has determined that cryptocurrencies will be treated as property, with all that entails including tracking basis, determining market value of transactions, and reporting gains or losses.

publication date

  • 2018

published in

start page

  • 107

end page

  • 145


  • 66