Stroock Special Bulletin
“Three Key Federal Income Tax Issues Raised by Cryptocurrencies”
By: Brian J. Senie
Cryptocurrencies – the original, and most famous of which is Bitcoin – give rise to a number of tax issues, three of which we discuss in this Stroock Special Bulletin:
- the effect of using Bitcoin to buy a good or service,
- the treatment of mining Bitcoins, and
- what happens from a tax perspective when there is a so-called hard fork of a cryptocurrency into two cryptocurrencies.