Sentences with phrase «property for tax purposes»

There is something extraordinarily cruel, crazy even, in the IRS's approach of treating virtual currencies as property for tax purposes.

You'll have a capital gain or a capital loss when you dispose of bitcoin because virtual currencies are considered property for tax purposes.

The CFTC is regulating cryptocurrency as if it's a commodity; the IRS calls cryptocurrency property for tax purposes; and the SEC sees some cryptocurrencies as securities.

The IRS says Bitcoin and other digital currencies are considered property for tax purposes.

One thing, however, is clear: Although both the public and the crypto community refer to bitcoin and altcoins as virtual currencies, the IRS treats them as property for tax purposes.

can be converted into traditional currency are property for tax purposes, and a taxpayer can have a gain

The political sway of homeowners when it comes to contesting appraisals of their property for tax purposes may be stronger than the egos reflected in what they tell the BLS.

The IRS said that bitcoin and similar convertible virtual currencies are property for tax purposes.

Since 2014, the IRS considers bitcoin or other cryptocurrencies as a capital asset and must be treated as property for tax purposes.

The same release, though, sets a few questions, as the tax collector explains that virtual currencies (not just Bitcoin) function in the same manner as traditional currencies while, at the same time, treating it as property for tax purposes.

The ACB isn't necessarily just the original purchase price — it may be that you have made capital improvements or renovations over the years that have increased the cost of the property for tax purposes.

Also, the IRS has categorized the currency as property for tax purposes.

The guidance, published Tuesday, sets Germany apart from the U.S., where the Internal Revenue Service treats bitcoin as property for tax purposes - which means that if an American buys a cup of coffee with bitcoin, it's technically considered a sale of property and potentially subject to capital gains tax.

The following year you don't know for certain what the county will appraise the property for tax purposes so you have to estimate it.

The market value of your home multiplied by the assessment ratio in your area equals the assessed value of your property for tax purposes.