Quote:
Originally Posted by WarChild
You really are very confused. Cash is not an investment tool. $1USD is still worth $1USD. There's no gain to be taxed.
That being said, that chances of the IRS busting you over a few bitcoins spent at a bar is pretty much slim to none.
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I meant that when you gained that 1$ it was taxed before in some way. If you gained it via employment paycheck it means it was taxed, if you gained it by profiting from shares it was taxed and so on. So if you declare your bitcoins and pay taxes you don't have disadvantage vs paying in cash, because both times your "gain" was taxed.