Sentences with phrase «virtual currency holdings»

However, if there are particular factors that distinguish one virtual currency as like - kind to another virtual currency for section 1031 purposes, the IRS should clarify these details (e.g., allowing the treatment of virtual currency held for investment or business as like - kind to another virtual currency) in the form of published guidance.

I began investing in Bitcoin in 2011, as I believed that Virtual Currency held significant promise.

First, a donor giving virtual currency held short term (ie: less than one year) as a capital asset will be able to deduct the lesser of cost basis or fair market value up to 50 % of adjusted gross income.

Before you submit your tax return to the IRS, ask yourself: What's the cost basis of your virtual currency holdings?

Others, frustrated with their inability to access their virtual currency holdings on the online marketplace, are planning a lawsuit.

«Members of Congress and covered employees are already required to report certain asset holdings over certain amounts, including reporting any commodities holding over $ 1,000, a Member or covered employee should report any virtual currency holding as they would report any other commodity, such as gold.»

«The user can pay in a virtual currency held in their Bithumb account when booking a hotel, resort, or motel.

Such ATM's shall allow Bitcoin holders to gain instant cash by exchanging their virtual currency holding.

According to Maeil Business, the Ministry of Personnel Management issued a document entitled «Virtual currency holdings and transaction - related information for civil servants» stating that officials who are found to be involved in cryptocurrency trading are «in violation of the prohibition of forbearance obligations under the civil servants» law» and are subject to disciplinary actions, especially if the banned activities occur during work hours.

South Korea has reportedly «issued a ban on virtual currency holdings and transactions to all government officials,» Maeil Business Newspaper reported.

According to the document entitled «Virtual currency holdings and transaction - related information for civil servants,» the publication elaborated:

The government of South Korea is reported to have issued a ban on virtual currency holdings and transactions to all government officials.

The published document, entitled «Virtual currency holdings and transaction - related information for civil servants,» explained: