Considering Bitcoin from a tax perspective
You need to track the price you bought in and your exit to calculate capital gains. This includes exiting your bitcoin position in an exchange like Poloniex or Bitfinex - as well as 'exiting' your bitcoin trade by purchasing something.
And you may ask... I bought some things with Bitcoins directly, do I owe taxes?
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https://www.youtube.com/watch?v=EqUbdAl_5Os
I’m excited about maximum leverage trading of commodities markets with Bitcoin.
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