File for an extension if you need more time

Next Monday, April 18th, is the deadline for filing 2015 US personal tax returns. However, if you don't think you can get everything ready in time, you can always file for an extension that allows you to delay your tax return until October 15th. File for an Extension This is…

Filing your 2015 taxes with Bitcoin for the first time

Filing taxes the first time when you have sold or spent Bitcoins can be a confusing, sometimes daunting, experience. Suddenly you aren't quite sure what goes where. Do I have to report spending? Do I have to report coins I own? What kind of income is it? What about my…

Filing your 2015 Bitcoin Taxes

2015 has been an up-and-down year for the price of Bitcoin and other digital currencies. Bitcoin started at $313 and quickly dropped to nearly $200 then bounced between $210 and $300 till the end of Oct. A resurgence put it up to $450 for the end of year. Anyone that…

Filing your Bitcoin Taxes - In Easy Steps

In the previous two parts of this series we've been through the type of information typically declared on your tax forms. This is often capital gains, in Schedule D, and if you have any income, Schedule C or line 21 of the 1040. In this final part, we're going to…

Filing your Bitcoin Taxes - Losses, Income & Spending

In the first part of this series we looked at how calculating capital gains for Bitcoin gets complicated very quickly. There are a few more specific areas that should be understood and might be relevant when filing taxes. Capital Losses Selling or spending Bitcoins at a lower price than you…