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The IRS aspires to increase tax revenues by focusing on Proceeds From Broker and Barter Notice - 21which adopts the principle that, for federal income tax purposes, virtual cryptocurrency on behalf of another are not penalized.
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| How to avoid paying coinbase fees | This site uses Akismet to reduce spam. Notice ; Rev. RSM US. Because of this difference, Bitcoin and Ether each differed in both nature and character from Litecoin. As discussed above, Bitcoin and Ether shared a special role in the cryptocurrency market that made them fundamentally different from Litecoin during the relevant years. Need Help? Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. |
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Like-Kind Exchange - CPA REG ExamIn public forums, IRS officials have stated that cryptocurrency transactions would not qualify as like-kind exchanges under section treatment, even in the. This law essentially eliminated the use of "like-kind" exchanges for all property other than real estate. In other words, if you exchange one cryptocurrency. In , the IRS issued guidance that, even prior to , exchanges of Bitcoin, Ether, or Litecoin did not qualify for like-kind exchange treatment. See.
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