Does the IRS expect people to pay capital gains if you acquired BTC as payment for goods / services rather than buying? #asknostr #bitcoin
Discussion
I believe they expect you to pay if you sell that Bitcoin, so you should note the price you received it at so you know your cost basis if you sell them or send them to someone else. The person who purchased goods or services from you with btc triggers a taxable event on their end and pays taxes on the coat basis of the btc they paid to you. If you zap a lot, best of luck keeping track of it all, lol
Don’t know, don’t care tbh. One of the biggest benefits of accepting #bitcoin as payment for goods or services (MOE) is that it’s completely p2p. We can create our own #circulareconomy without third parties, why should we ask permission?
The IRS wants you to claim anything you receive (even if it has no value).
Not doing so is a violation of The Patriot Act too.
It's a good thing that none of those are lawful.
The next trick is educating others the difference between legal and lawful.
Would that be the "black robe" pill? Power Pill? Sovereignty Soluable? 🤔
