Law360 (August 23, 2019, 6:46 PM EDT) — The proliferation of cryptocurrency use against a backdrop of limited guidance concerning the tax treatment of related transactions has had practitioners on edge, eagerly awaiting guidance the IRS has said is coming soon after a wait of nearly five years.
An Ethereum ATM in Hong Kong. The only U.S. tax guidance so far for virtual currency disclosures calls for reporting capital gains from transactions the same as those from property sales or exchanges. (AP)
Here, Law360 presents six things practitioners say they hope the forthcoming regulations address.
Whether Cryptocurrency Will Still Be Treated as Property
The only tax guidance for disclosing virtual currencies is…
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