bitcoins do not exist in physical space and therefore there is no terrestrial authority with jurisdiction
make war on any force that attempts to bring under its control realms of the mind
Topic: BTC legalities? (Read 658 times)
Technically, you haven't made any USD gains until you sell. So, don't sell your bitcoins, use them.
Logic would dictate that any profits or losses you generate from buying and selling bitcoins would be treated as capital gains, either long or short term.
Of course, and absolutely, talk to your accountant for exact information but I can not imagine that such gains would not be viewed as a taxable event unless inside a qualified retirement plan.
Just my two cents worth.
SQ
Of course, and absolutely, talk to your accountant for exact information but I can not imagine that such gains would not be viewed as a taxable event unless inside a qualified retirement plan.
Just my two cents worth.
SQ
Maybe you should ask an expert. Forums aren't so reliable when it comes to law issues 
I have been wondering about the legal side of BTC in America (Oregon to be more specific). Does anyone know where I could find some good info regarding this? I don't want to make a bunch of USD then find out I was supposed to pay taxes or something.
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