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How transactions using Bitcoin treated under US tax law

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Reference no: EM132448883

Question 1: How are transactions using Bitcoin (or another virtual currency) treated under U.S. tax law? Some background on Bitcoin can be found at Locate the current IRS guidance on this question. In addition, locate the American Institute of CPAs Comment Letter on virtual currency (issued in May 2018). After reading these materials, provide a one-page written summary for your instructor.

Reference no: EM132448883

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