2

Do I pay any taxes to purchase or sell bitcoin? If I use a Bitcoin debit card and withdraw USD from an ATM, is it a taxable event?

user25300
  • 21
  • 1

1 Answers1

1

In the United States, Bitcoins are treated like a commodity asset, not like cash. So when you buy something with Bitcoins or exchange Bitcoins for dollars, you have a taxable capital gain on the difference between your basis in the Bitcoins and the value you got for the Bitcoins.

David Schwartz
  • 51,554
  • 6
  • 106
  • 178