Thread: can BITCOIN put an end to the FEDERAL RESERVE
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Old 03-22-2013, 11:01 AM  
L-Pink
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Quote:
Originally Posted by mayabong View Post
I haven't seen a real answer from the IRS regarding Bitcoin. Do you have an official document? I don't cash out when I'm in Bitcions and probably never will.
You don't owe taxes just when you cash out. You also need to reconcile profit/loss on bitcoin value for anything you purchase with bitcoins as well.

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